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Article 87. The Foundation Documents of a Joint-stock Company

amended by (11) Law of 11th July 1997 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan Concerning Issues of Banking Activity; and

(12) Law of No. 211 of 2nd March 1998 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to the Civil Code of the Republic of Kazakhstan (General Part), and to the Decree of the Supreme Soviet of the Republic of Kazakhstan "Concerning the Implementation of the Civil Code of the Republic of Kazakhstan (General Part)"; and

(15) Law No. 282 of 10th July 1998 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan Concerning Issues of Joint-Stock Companies.

1. The Foundation documents of a joint-stock company are the foundation agreement and the charter. The charter shall be foundation document of a joint-stock company which is founded by a sole participant.

The foundation documents of a joint-stock company shall be subject to notarisation.

2. The foundation agreement of a joint-stock company shall be concluded by the foundation parties. The foundation documents of a joint stock company must contain information as defined by this Code and other legislative acts.

3. The charter of a joint-stock company shall be approved by the general meeting of the foundation parties.

Article 88. The Charter Fund Charter Capital of a Joint-stock

Company

amended by (11) Law of 11th July 1997 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan Concerning Issues of Banking Activity; and

replaced by (15) Law No. 282 of 10th July 1998 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan Concerning Issues of Joint-Stock Companies.

Article 88. The Announced and the Issued (Paid-Up) Authorised Capital of Joint-Stock Companies

1. The announced authorised capital of a joint-stock company shall consist of the aggregate nominal value of all the shares announced to be issued and it shall be expressed in a single currency. A joint-stock company shall have the right to issue all or part of shares announced to be issued. Incomplete allotment of shares from an announced volume of an issue of a joint-stock company in the case of the closed-type allotment, shall not lead to reduction of the announced authorised capital.

2. Issued (paid-up) authorised capital of a joint-stock company shall consist of the aggregate nominal value of the issued shares.

3. The procedure for the formation of the announced and the issued (paid-up) authorised capital of a joint-stock company shall be defined in legislative acts.

Article 89. The Increase of the Charter Fund Charter Capital

amended by (11) Law of 11th July 1997 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan Concerning Issues of Banking Activity; and

replaced by (15) Law No. 282 of 10th July 1998 of the Republic of Kazakhstan. Concerning the Introduction of Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan Concerning Issues of Joint-Stock Companies.

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