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Article 233. Consortium

as amended by (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)".

1. The consortium shall be a temporary voluntary equal-rights union (association) on the basis of an agreement on joint business activities in which legal entities unite certain resources and co-ordinate efforts to solve specific business issues.

2. The participants of a consortium shall retain their business independence and may take part in the activities of any other consortia or associations.

Relations between the members of a consortium shall be built on a contractual basis.

3. Managing a consortium shall be carried out in accordance with the consortium agreement between the members of the consortium.

4. The participants of a consortium shall be jointly liable for the obligations related to the activities of the consortium, unless it is otherwise stipulated in the agreement on consortium.

5. A consortium shall cease its activities after the execution of the task set to it, upon the decision of its participants.

Article 234. The Rules for Certain Types of Joint Activities

Certain types of business activities shall be regulated by the legislation of the Republic of Kazakhstan in accordance with this Code.

Chapter 13. The Acquisition of the Right to Own and

of Other Material Rights

Article 235. The Bases for the Acquisition of the Right to Own

1. The right to own a new object shall belong to the person who manufactured or created it, unless it is otherwise stipulated in an agreement or legislation.

The right to own fruit, production, or income received as a result of the use of the assets, shall be acquired in accordance with Article 123 of this Code.

2. The right to own the property which has an owner may be acquired by any other person on the basis of a purchase and sale agreement, exchange agreement, a gift agreement, or any other transaction to alienate that property.

In the case of demise of a citizen, the right to own the assets which belong to him shall be transferred by inheritance to other persons in accordance with the will or law.

In the case of reorganising a legal entity, the right to own the assets which belong to it shall be transferred to the legal entities which are legal successors of the reorganised legal entity (Article 46 of this Code).

The alienation of the assets from an owner to another person past the approval of the owner shall not be allowed, except for the cases stipulated in this Code.

3. In the cases and in accordance with the procedure stipulated in this Code, a person may acquire the right of ownership of the property which does not have an owner, or the property of which the owner is not known, or the property of which the owner refused it or lost the right to own it for other reasons.

4. Members of a consumer co-operative (housing, housing construction co-operative, dacha co-operative, garage and any other co-operative), and other persons who have the right to accumulate share-units, who fully paid their unit-share contribution for the apartment, dacha, garage or any other premises granted to those persons by the co-operative for their use, shall acquire the right to own the indicated assets.

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