Kazakh President
Kassym-Jomart Tokayev signed the law on returning to the state illegally
acquired assets. The document outlines the return mechanisms that will be
applied to oligopolistic groups and entities involved in major corruption. The
work on the return of assets will be carried out by an authorized body, based
on data monitoring and analysis. If the authorized body has reasonable doubts
regarding the legality of acquired assets, it will submit proposals to the
Commission on Asset Recovery to include such entities in the relevant Register.
If they cannot confirm the legality of the acquisitions, their assets will be
recognized as of unexplained origin. The provisions of the law will apply to
those with aggregate assets exceeding 44 billion tenge. The return of illegally
acquired assets may be carried out voluntarily or compulsorily - on the basis
of the country’s judicial acts. The assets returned to the state will be
transferred to the Special State Fund.
