On Valuation Activity in the Republic of Kazakhstan

Updated Unofficial translation

The Law of the Republic of Kazakhstan dated January 10, 2018 № 133-VІ.

      Unofficial translation

      This Law shall regulate social relations associated with implementation of valuation activity in the Republic of Kazakhstan, as well as determine the legal bases for regulation of valuation activity.

Chapter 1. GENERAL PROVISIONS

Article 1. Basic definitions used in this Law

      The following basic definitions shall be used in this Law:

      1) evaluation – determination of possible market or other value of the appraisal object in accordance with the legislation of the Republic of Kazakhstan;

      2) approach to the evaluation – a method for determining a possible market or other value of the appraisal object using one or more methods of evaluation;

      3) evaluation method – a set of actions of legal, financial and economic, organizational and technical nature committed in the appraisal;

      4) evaluation date – day or period of time for which the possible market or other value of the appraisal object shall be determined;

      5) evaluation activity – professional activity of subjects of evaluation activity aimed at establishing in relation to the appraisal object of the market or other value provided for by this Law, other laws of the Republic of Kazakhstan and evaluation standards for a certain date;

      6) authorized body in the field of evaluation activity – central executive body, carrying out management and inter-sectoral coordination in the field of evaluation activity;

      7) appraisal standard - a regulatory legal act, in which the authorized body in the field of appraisal activity shall establish unified requirements for the subjects of appraisal activity to determine the market or other value of the appraised object;

      8) unreliable evaluation report – a written document drawn up in violation of the requirements of the legislation of the Republic of Kazakhstan on evaluation activity, using unreliable data leading to distortion of the market or other value of the appraisal object, except for the case provided for in paragraph 2 of Article 14 of this Law;

      9) evaluation report – a written document drawn up in accordance with the legislation of the Republic of Kazakhstan on evaluation activity based on the results of conducted appraisal;

      10) examination of the evaluation report – a study conducted by the expert Council of the chamber of appraisers in order to check the evaluation report for compliance with the requirements of the legislation of the Republic of Kazakhstan on evaluation activity and standards of the chamber of appraisers;

      11) appraiser – an individual, carrying out professional activity on the basis of a certificate of qualification "appraiser" issued by the chamber of appraisers, and being a member of one of the chambers of appraisers;

      12) certificate on assignment of a qualification "appraiser" – a document confirming the person's compliance with the requirements for possession of special theoretical knowledge, practical skills and work experience;

      13) a chamber of appraisers - a self-regulating organization in the field of professional activity, created in order to control the quality of evaluation activities of its members, protect the rights and legitimate interests of appraisers;

      14) rules of the chamber of appraisers – a document developed and approved by the chamber of appraisers, determining the procedure for organization the activities of the chamber of appraisers and its members;

      15) standard of the chamber of appraisers – a document developed and approved by the chamber of appraisers, establishing the requirements for repeated use by the members of the chamber of appraisers of unified and obligatory principles, characteristics to their services;

      16) qualification commission - a specialized body of the chamber of appraisers, created for conducting a qualification examination for the persons applying for certificates of qualification as an "appraiser", "expert";

      16-1) register of unscrupulous appraisers - a list of appraisers compiled on information from the chamber of appraisers on suspension of the certificate and (or) deprivation of the certificate and (or) termination of the certificate of "appraiser" qualification;

      17) conflict of interest – a situation in which the interest of an appraiser, a legal entity with whom the appraiser concluded an employment contract, or an expert may affect the reliability of the evaluation report or expert opinion;

      18) market value - the estimated monetary amount for which the asset would be exchanged on the evaluation date between the interested person and the seller as a result of commercial transaction after proper marketing has been carried out, in which each party would act being well informed, prudently and without coercion;

      19) other value – other than the market value of the appraisal object, the types of which are established the evaluation standards;

      20) expert – a member of the expert council of the chamber of appraisers, having a certificate on assignment of qualification "expert";

      21) certificate on assignment of qualification "expert" – a document confirming the compliance of the appraiser with the requirements for the level of professional knowledge of the expert established by the chamber of appraisers;

      22) customer – an individual and (or) legal entity who has concluded a contract on carrying out an evaluation;

      23) affiliated persons – individuals and (or) legal entities capable of influencing the activities of the appraiser, having the ability to directly and (or) indirectly make decisions on determining the possible market or other value of the appraisal object and (or) influence the decisions made by each other (one of the persons), including by virtue of the transaction;

      24) third parties – persons who are not included in the number of appraisers, experts and customers having a certain relationship to the appraisal object, evaluation activities;

      25) international evaluation standards – evaluation standards adopted by the International evaluation standards board.

      Footnote. Article 1 as amended by the Law of the Republic of Kazakhstan dated 31.12. 2021 № 100 (shall be enforced sixty calendar days after the date of its first official publication); dated 01.07.2024 № 107-VIII (shall enter into force upon expiry of sixty calendar days after the day of its first official publication).

Article 2. Legislation of the Republic of Kazakhstan on evaluation activity

      1. The legislation of the Republic of Kazakhstan on evaluation activity is based on the Constitution of the Republic of Kazakhstan, consists of this Law and other regulatory legal acts of the Republic of Kazakhstan.

      2. The specifics of organization of state property evaluation, cases and peculiarities of property evaluation when it enters the state property, the transfer of state property for use to individuals and (or) non-state legal entities, as well as the alienation of state property shall be established by Chapter 16 of the Law of the Republic of Kazakhstan "On State Property".

      The specifics of determining the amount of damage caused to a vehicle shall be established by the Law of the Republic of Kazakhstan "On Compulsory Insurance of Civil Liability of Vehicle Owners".

      3. If an international treaty ratified by the Republic of Kazakhstan establishes rules other than those provided for by this Law, the rules of the international treaty shall apply.

Article 3: Purpose, objectives and principles of regulation in the field of evaluation activities

      1. The purpose of regulation in the field of appraisal activity shall be the development of appraisal activity in the Republic of Kazakhstan.

      2. The tasks of regulation in the field of appraisal activity shall be:

      1) establishment of legal foundations of appraisal activity;

      2) determination of the basic principles and directions of realization of appraisal activity;

      3) creation of conditions for raising the professional level of members of the Chamber of Appraisers;

      4) strengthening confidence in the institute of appraisal in the Republic of Kazakhstan.

      3. The principles of regulation in the field of appraisal activity shall be:

      1) legality in the implementation of appraisal activities;

      2) objectivity in carrying out appraisal activities;

      3) credibility in carrying out appraisal;

      4) independence in carrying out appraisal activities;

      5) Confidentiality in fulfillment of the obligation by the subjects of appraisal activity to preserve the information received or compiled by them as a result of appraisal without the right to transfer them to third parties or verbal disclosure of the information contained therein, except for cases stipulated by the legislation of the Republic of Kazakhstan.

      Footnote. Article 3 in the wording of the Law of the RK dated 01.07.2024 № 107-VIII (shall enter into force upon expiry of sixty calendar days after the day of its first official publication).

Article 4. Subjects of evaluation activity

      1. Appraisers and legal entities with whom the appraisers have concluded an employment contract shall be recognized as subjects of evaluation activity.

      2. The appraiser shall have the right to carry out an evaluation activity independently, engaging in private practice, as well as on the basis of an employment contract between the appraiser and a legal entity.

Article 5. Appraisal objects

      The appraisal objects shall include:

      1) separate material objects (things), a set of things that make up the property of a person, property of a certain type (movable or immovable), including ownerless, extinct property;

      2) the right of ownership and other real rights to property or separate things from the property, the right to claim, obligations (debts), works, services, information, as well as objects of intellectual property rights, other objects of civil rights, including ownerless and extinct, with the exception of objects of taxation of individuals (housing, cottage construction, economic (office) construction, ground floor, basement housing, garage) in determining the tax base, land plots in determining the cadastral (estimated) value, which are conducted by the State Corporation "Government for Citizens".

Article 6. Types of evaluation

      1. Types of evaluation shall be mandatory and initiative evaluation.

      2. Mandatory evaluation in accordance with the legislative acts of the Republic of Kazakhstan shall be carried out:

      1) for property taxation in accordance with the tax legislation of the Republic of Kazakhstan;

      2) for privatization, transfer to trust management or lease (lease with the subsequent purchase) of state property.

      The provisions of this subparagraph shall not apply to the cases of transfer to trust management or lease of property assigned to the National Bank of the Republic of Kazakhstan, subsidiaries of the National Bank of the Republic of Kazakhstan;

      3) for a mortgage loan: in provision of a mortgage loan, as well as, if necessary, the sale of a collateral property;

      4) for redemption and seizure of property for state needs;

      5) for determining the value of the debtor's property, when the debtor or the claimant objects to the evaluation made by the bailiff;

      6) for determining the value of property received by the state;

      7) in other cases established by the laws of the Republic of Kazakhstan.

      3. Initiative evaluation shall be carried out on the basis of the will of the customer for carrying out an evaluation by the appraiser in accordance with this Law and other regulatory legal acts of the Republic of Kazakhstan.

      The right to carrying out an evaluation shall be unconditional.

Chapter 2. THE GROUNDS AND CONDITIONS FOR EVALUATION

Article 7. Grounds for evaluation

      The ground for evaluation shall be a contract for evaluation concluded between the appraiser or a legal entity with whom the appraiser has concluded an employment contract, and the customer in accordance with this Law and the civil legislation of the Republic of Kazakhstan.

      Under the contract for evaluation, the appraiser or a legal entity with whom the appraiser has concluded an employment contract shall be obliged to perform services on determining a market or other value of the appraisal object, and the customer shall be obliged to pay for these services.

Article 8. Mandatory requirements to the contract for evaluation

      1. The provisions of the Civil code of the Republic of Kazakhstan (Special part) on the contract for rendering paid services shall be applied to the contract for evaluation.

      2. The contract for evaluation shall include:

      1) details of the parties:

      for an individual – name, surname, patronymic (if it is specified in the identity document), individual identification number, place of residence (postal address);

      for a legal entity, including the one with whom the appraiser has concluded an employment contract - name, location (legal address), business identification number, bank details;

      2) the name and (or) the location of the appraisal object, type of the appraisal object;

      3) description of the appraisal object;

      4) the date of determining the value of the appraisal object;

      5) purpose of evaluation;

      6) type of evaluation;

      7) type of the determined value;

      8) timing of evaluation;

      9) an indication of the evaluation standard to be applied in the evaluation;

      10) conditions, procedure and amount of payment for services rendered;

      11) rights, duties and responsibilities of the parties;

      12) requisites of the document confirming the right of ownership of the customer to the appraisal object, or other grounds, giving the customer the right to conclude a contract for evaluation;

      13) requisites of the certificate on assignment of qualification "appraiser" (number and date of issue with indication of the chamber of appraisers which issued it);

      14) the right of the customer to pre-trial regulation of issues on property responsibility of the appraiser or a legal entity with whom the appraiser has concluded an employment contract;

      15) data on ensuring property responsibility of the appraiser or a legal entity with whom the appraiser has concluded an employment contract;

      16) other conditions not provided for by this Law.

      3. The date of evaluation shall be the day on which the value of the appraisal object is determined.

      4. The amount of payment for evaluation may not be expressed as a percentage of the determined value of the appraisal object.

Article 9. Requirements for the evaluation report

      1. Based on the results of evaluation, an evaluation report shall be made in at least two copies, one of which shall be transferred to the customer, the second one shall be kept by the appraiser or a legal entity with whom the appraiser has concluded an employment contract, in the procedure determined by the chamber of appraisers.

      2. The evaluation report shall be numbered, laced, signed by the appraiser and stamped by his (her) seal (if any), and in the case of concluding an employment contract with a legal entity, the evaluation report shall be approved by the head of a legal entity and stamped by the seal of legal entity (if any).

      3. The total value of the market or other value of the appraisal object specified in the evaluation report, drawn up on the grounds and in the procedure provided for by this Law, shall be recognized as recommended for the purposes of transaction with the appraisal object, unless otherwise established by the legislation of the Republic of Kazakhstan.

      Footnote. Article 9 as amended by the Law of the RK dated 01.07.2024 № 107-VIII (shall enter into force upon expiry of sixty calendar days after the day of its first official publication).

Article 10. Independence of the appraiser

      No intervention of the customer or other interested persons in the appraiser’s activity shall be allowed, if this may adversely affect the accuracy of the evaluation result, including limiting the range of issues to be clarified during the evaluation.

Article 11. Examination of the evaluation report

      1. In case of a dispute about the accuracy of the market value or other value of the appraisal object established in the evaluation report, including in connection with the other evaluation report of the same object, an examination of the evaluation report may be carried out.

      Expert examination of the valuation report shall be conducted in accordance with the legislation of the Republic of Kazakhstan on valuation activities by the Expert Council of the Chamber of Appraisers, of which the appraiser who conducted the valuation shall be a member.

      Examination of the evaluation report shall be carried out at the initiative of the customer and (or) the third party challenging the evaluation report.

      Examination of the evaluation report shall be carried out at the expense of the party initiating the examination of the evaluation report.

      Examination of the evaluation report shall be carried out on the basis of the contract between the person challenging the evaluation report and the chamber of appraisers.

      2. The result of the examination of the evaluation report shall be a positive or negative expert opinion prepared by the expert council of the chamber of appraisers.

      An expert opinion containing conclusion on compliance of the evaluation report with the requirements of the legislation of the Republic of Kazakhstan on evaluation activity and (or) on confirmation of the value of the appraisal object determined in the evaluation report shall be recognized as a positive conclusion of the expert council.

      An expert opinion containing conclusion on non-compliance of the evaluation report with the requirements of the legislation of the Republic of Kazakhstan on evaluation activity and (or) on the refutation of the value of the appraisal object determined in the evaluation report shall be recognized as a negative conclusion of the expert council.

      3. In case of issue of the negative conclusion by the expert council, the payment made by the customer for examination of the evaluation report shall be compensated by the appraiser who made the evaluation report or a legal entity with whom the appraiser has concluded an employment contract.

      4. Examination of the evaluation report shall not be entitled to carry out an expert:

      1) whose evaluation report is disputed;

      2) in cases provided for by part 1 of paragraph 2 of Article 15 of this Law.

      5. Excluded by the Law of the RK dated 01.07.2024 № 107-VIII (shall enter into force upon expiry of sixty calendar days after the day of its first official publication).

      6. In cases when the examination of the evaluation report requires special knowledge in a particular field of science, technology, art or craft, the expert council shall have the right to involve scientists and specialists in the profile of the conducted evaluation.

      7. Disputes arising between the person challenging the evaluation report and the chamber of appraisers that issued the expert opinion shall be considered by the court.

      In case of recognition in the court of the conclusion of the expert council as unreliable, the members of the expert council and the chamber of appraisers shall be liable in accordance with this Law and other laws of the Republic of Kazakhstan.

      Footnote. Article 11 as amended by the Law of the RK dated 01.07.2024 № 107-VIII (shall enter into force upon expiry of sixty calendar days after the day of its first official publication).

Article 12. Expert council

      1. The expert council is a body of the chamber of appraisers, which purpose of creation and activity is examination of the evaluation report.

      The regulation on the activities of the expert council shall be approved by the general meeting of the members of the chamber of appraisers.

      2. The expert council of the chamber of appraisers shall be formed from the number of appraisers who have a certificate of qualification "expert".

      The expert council of the chamber of appraisers shall be composed of at least five experts.

      A member of the expert council shall be elected as the Chairman of the expert council a by a simple majority of votes of experts at the meeting of the expert council for a period of two years. The same person may not be elected as the Chairman twice in a row.

      3. Members of the expert council shall be elected by the general meeting of members of the chamber of appraisers for a period of two years.

      Members of the expert council may be re-elected for a new term, as well as excluded from the expert council pre-term on the grounds provided for by this Law.

Article 13. Standards of evaluation activity

      1. The standards of evaluation activity shall include evaluation standards and standards of the chamber of appraisers.

      2. The assessment standard, affecting the sphere, regulation of which shall be within the competence of another state body, shall be subject to coordination with the authorized body in the relevant sphere.

      3. Evaluation standards shall be developed on the basis of international evaluation standards and must comply with the legislation of the Republic of Kazakhstan on evaluation activities.

      4. The chamber of appraisers shall have the right to develop and approve in coordination with the authorized body in the field of evaluation activity and the authorized body in the field of self-regulation the standards and rules of the chamber of appraisers, mandatory for all its members.

      5. Evaluation standards do not apply to the documents on standardization, the adoption of which is carried out in accordance with the legislation of the Republic of Kazakhstan in the field of standardization.

      Footnote. Article 13 as amended by the Law of the Republic of Kazakhstan dated 05.10.2018 № 184-VI (shall be enforced upon expiry of six months after its first official publication); dated 01.07.2024 № 107-VIII (shall enter into force upon expiry of sixty calendar days after the day of its first official publication).

Chapter 3. RIGHTS AND DUTIES OF THE APPRAISER

Article 14. Rights of the appraiser

      1. The appraiser shall have the right to:

      1) independently apply evaluation methods and approaches to evaluation in accordance with the evaluation standards and (or) international standards of evaluation with indication of the source;

      2) demand from the customer during the evaluation providing access to the appraisal object as well as to the documentation in full, necessary for carrying out the evaluation;

      3) receive explanations of the customer, as well as additional information necessary for carrying out the evaluation;

      4) involve as necessary on a contractual basis to participate in the evaluation of a specialist (specialists);

      5) refuse to carry out the evaluation in cases, if the customer has violated the terms of the contract for evaluation and did not provide the necessary information about the appraisal object;

      6) request in writing or orally from third parties the information necessary for the evaluation, except for information constituting state secrets, commercial and other secrets protected by the law.

      2. In case of refusal to provide the information specified in subparagraphs 2), 3) and 6) of paragraph 1 of this Article, significantly affecting the accuracy of the evaluation results, the appraiser shall indicate this in the evaluation report.

      3. Within three months from the date of exclusion of the chamber of appraisers from the register of self-regulating organizations of appraisers, the appraisers who are the members and have not entered into other chamber of appraisers, shall have the right to carry out evaluation activity under the contracts concluded before the date of exclusion of the chamber of appraisers from the register of self-regulating organizations of appraisers.

      4. The provisions of subparagraphs 2), 3), 4), 5) and 6) of paragraph 1 and paragraph 3 of this Article shall apply to the legal entity with whom the appraiser has concluded the employment contract.

Article 15. The responsibilities of the appraiser

      1. The appraiser shall be obliged to:

      1) comply with the requirements of this Law, other regulatory legal acts of the Republic of Kazakhstan and standards of valuation activities in the implementation of valuation activities;

      2) comply with the code of business and professional ethics of appraisers;

      3) prevent the preparation of an inaccurate evaluation report;

      4) be a member of only one chamber of appraisers;

      5) pay the fees established by the chamber of appraisers;

      6) inform the customer or a legal entity with whom the appraiser has concluded an employment contract about the impossibility of his (her) participation in the evaluation in the event of circumstances that prevent conducting an objective evaluation;

      7) ensure the safety and confidentiality of documents, information received from the customer and third parties during the evaluation;

      8) provide information on membership in the chamber of appraisers upon request of the customer;

      9) keep the compiled evaluation reports for five years;

      10) carry out a direct examination of the appraisal object, as well as study the documentation on it without the trust of their right;

      11) provide information on the legal entity with whom the appraiser has concluded an employment contract, and also data on any changes of this information within ten calendar days from the date of conclusion of the employment contract and (or) occurrence of changes to the chamber of appraisers of which the appraiser is a member;

      12) provide on a quarterly basis in the manner prescribed by the chamber of appraisers, information about signed in the specified period evaluation reports with indication the date of this report and its sequence number, the appraisal object, type of a determined value;

      12-1) submit monthly, no later than the 5th day of the month following the reporting period, to the chamber of appraisers, of which he is a member, copies of reports on valuation of the property that is collateral in concluding a mortgage agreement, and also when selling mortgaged property;

      13) in cases stipulated by the legislation of the Republic of Kazakhstan, provide copies of the stored evaluation reports or information to state bodies, other organizations, officials, the chamber of appraisers, of which he is a member, upon their request;

      14) take a course in upgrading appraiser qualification every three years;

      15) familiarize the customer with the register of unscrupulous appraisers.

      The requirements of subparagraphs 8), 9), 12) and 13) of part one of this paragraph shall not apply to the appraisers who have concluded an employment contract with a legal entity.

      The legal entity with which the appraiser has concluded an employment contract is obliged to comply with the requirements provided for in subparagraphs 1), 3), 6), 7), 8), 9), 12), 12-1) and 13) of the first part of this paragraph

      2. The appraiser may not conduct an evaluation if:

      1) in respect to the appraisal object, the appraiser has or acquires real or obligatory rights outside the contract;

      2) the appraiser has a property interest in the appraisal object;

      3) the appraiser is an affiliate of the customer;

      4) the legal entity- customer is a creditor or insurer of the appraiser;

      5) the appraiser is a shareholder, founder, employee, owner, participant, creditor, debtor, sponsor of the legal entity-customer or the appraiser is a close relative or relative-in –law of the customer – an individual;

      6) the appraiser is an employee of a legal entity in which the head or the person authorized by him (her) is in close kindred or –in-law relations with the customer – an individual and (or) the head or an authorized person of the legal entity;

      7) this entails the occurrence of a conflict of interests or creates the threat of such a conflict, except for obligations arising from concluded public contracts.

      The requirements of this paragraph shall apply to the legal entity with whom the appraiser has concluded an employment contract.

      Footnote. Article 15 as amended by the Law of the Republic of Kazakhstan dated 31.12. 2021 № 100 (shall be enforced sixty calendar days after the date of its first official publication).

Chapter 4. CHAMBER OF APPRAISERS

Article 16. Chamber of appraisers

      1. The chamber of appraisers shall be created in the form of a non-profit organization and is a self-regulatory organization based on mandatory membership, uniting at least three hundred appraisers on the terms of membership.

      2. The activities of the chamber of appraisers shall be regulated by this Law, other laws, the charter, the standard and the rules of the chamber of appraisers.

      3. The status of the chamber of appraisers shall be acquired from the date of its introduction by the authorized body in the field of evaluation activities in the register of self-regulatory organizations of appraisers.

      4. Reorganization and liquidation of the chamber of appraisers shall be carried out in accordance with this Law, other laws of the Republic of Kazakhstan.

      5. The chamber of appraisers shall be liquidated:

      1) by the decision of the general meeting of members of the chamber of appraisers;

      2) by the court decision.

      6. The chamber of appraisers shall be subject to liquidation on the grounds:

      1) of non-compliance with the requirements of this Law, the Law of the Republic of Kazakhstan "On Self-regulation";

      2) of violations more than twice within twelve consecutive calendar months of the charter of the chamber of appraisers and the rules and standards adopted by it;

      3) of bringing to administrative responsibility more than twice within twelve consecutive calendar months for violation of the legislation of the Republic of Kazakhstan on evaluation activities;

      4) provided by Article 49 of the Civil code of the Republic of Kazakhstan (General part).

      In case of liquidation of the chamber of appraisers, appraisers shall be obliged to join other chambers of appraisers within three months without paying the entry fee.

      7. The authorized body in the field of evaluation activity on the basis of the decision of the general meeting of the members of the chamber of appraisers or the court decision on liquidation of the chamber of appraisers entered into force excludes it from the register of self-regulatory organizations of appraisers.

Article 17. Rights and obligations of the chamber of appraisers

      1. The chamber of appraisers shall have the right to:

      1) on its own behalf dispute in accordance with the legislation of the Republic of Kazakhstan the acts, decisions and (or) actions (inaction) of state and local self-government bodies and their officials, legal entities, violating the rights and legitimate interests of the chamber of appraisers, its members or creating the threat of such violation;

      2) request and receive information from the state and local self-government bodies necessary for the performance by the chamber of appraisers of the functions assigned to it by the laws of the Republic of Kazakhstan, in accordance with the legislation of the Republic of Kazakhstan, with the exception of information constituting state secrets, commercial and other secrets protected by the law;

      3) join international organizations of appraisers;

      4) approve the rules and standards of the chamber of appraisers in coordination with the authorized body in the field of evaluation activities and the authorized body in the field of self-regulation;

      5) collect entrance, annual membership fees and form the property of the chambers of appraisers from other sources not prohibited by the laws of the Republic of Kazakhstan;

      6) refuse to become a member of the chamber of appraisers in the cases established by paragraph 3 of Article 18 of this Law;

      7) with the written permission of the International council on evaluation standards, translate international evaluation standards, as well as post them on its Internet resource;

      8) exercise other rights provided by this Law, other laws of the Republic of Kazakhstan and the charter of the chamber of appraisers.

      2. The chamber of appraisers shall be obliged to:

      1) notify the authorized body in the field of evaluation activity on the beginning of carrying out an activity;

      2) comply with the legislation of the Republic of Kazakhstan, the charter of the chamber of appraisers and its adopted rules and standards;

      3) represent the interests of its members in state bodies, local self-government bodies, as well as in international organizations of appraisers in accordance with this Law, other regulatory legal acts of the Republic of Kazakhstan and the charter of the chamber of appraisers;

      4) develop and approve the rules for issuing certificates of completion of training courses and retraining of appraisers and experts;

      5) consider appeals of individuals and legal entities to the actions (inaction) of members of the chamber of appraisers;

      6) keep registers of members of the chamber of appraisers, members of the expert council, which are posted on the Internet resource of the chamber of appraisers;

      7) consider materials on disciplinary offenses of appraisers, experts and impose disciplinary sanctions on the perpetrators;

      8) exercise control over its members in accordance with the requirements of this Law;

      9) suspend and terminate membership in the chamber of appraisers on the grounds provided for by this Law;

      10) adopt the code of business and professional ethics for appraisers;

      11) quarterly not later than the 20th day of the month following the reporting quarter provide to the authorized body in the field of evaluation activity the information on its activity and activity of the members in the form approved by authorized body in the field of evaluation activity with its placement on the Internet resource of chamber of appraisers;

      11-1) quarterly, no later than the 20th day of the month following the reporting quarter, provide information to the authorized body in the field of appraisal activities with a copy of the reports on the valuation of property that is collateral in concluding a mortgage agreement, and also when selling mortgaged property;

      11-2) within three working days from the date of the decision to provide the authorized body in the field of valuation activities with information on suspension of the certificate and (or) deprivation of the certificate and (or) termination of the certificate of "appraiser" qualification of its members;

      12) inform the members of the chamber of appraisers about the receipt and expenditure of money by posting on the Internet resource of the chamber of the annual report;

      13) issue certificates on assignment the qualification of "appraiser", "expert";

      14) conduct training and re-training courses of appraisers.

      The laws of the Republic of Kazakhstan and the charter of the chamber of appraisers may establish other duties of the chamber of appraisers.

      3. The chamber of appraisers shall not be entitled to carry out activities and perform actions that lead to occurrence of a conflict of interests of the chamber of appraisers and its members or create a threat of such a conflict.

      Measures to prevent or resolve conflict of interests shall be established by the chambers of appraisers.

      Footnote. Article 17 as amended by the Law of the Republic of Kazakhstan dated 31.12. 2021 № 100 (shall be enforced sixty calendar days after the date of its first official publication).

Article 18. Requirements for membership in the chamber of appraisers

      1. The appraiser may be a member of only one chamber of appraisers.

      Mandatory conditions of membership in the chamber of appraisers shall be:

      1) a certificate of qualification "appraiser";

      2) absence of an unexpunged or unpaid conviction for offenses in the field of economic activity, as well as for crimes of moderate severity, committed intentionally, grave and especially grave crimes.

      2. To join the chamber of appraisers an individual shall submit:

      1) an application;

      2) an identification document;

      3) a certificate on assignment of qualification "appraiser";

      4) a certificate of absence of an unexpunged or unpaid conviction for offenses in the field of economic activity, as well as for crimes of moderate severity, committed intentionally, grave and especially grave crimes;

      5) other documents established by the chamber of appraisers.

      3. The reason for refusal of admission to the chamber of appraisers shall be non-compliance with the provisions provided for in paragraph 2 of this Article.

      4. The applicant shall have the right to appeal against the actions of the chamber of appraisers to refuse admission to the members of the relevant chamber of appraisers to the authorized body in the field of appraisal activities or the court in the procedure prescribed by the Laws of the Republic of Kazakhstan.

      Footnote. Article 18 as amended by the Law of the RK dated 29.06.2020 № 351-VI (shall enter into force on 01.07.2021).

Article 19. Suspension and termination of membership in the chamber of appraisers

      1. Membership in the chamber of appraisers shall be suspended in case of suspension of the certificate of qualification "appraiser".

      An appraiser whose membership in the chamber of appraisers is suspended may not carry out evaluation activities during the suspension period.

      2. Membership in the chamber of appraisers shall be terminated on the following grounds:

      1) at the request of a member of the chamber of appraisers;

      2) in case of repeated violation of the charter of the chamber of appraisers, the code of business and professional ethics of the appraiser by the appraiser;

      3) in connection with termination of the certificate of qualification "appraiser".

      An appraiser whose membership in the chamber of appraisers has been terminated may not carry out evaluation activities.

      3. The chamber of appraisers not later than the day following the day of suspension or termination of the appraiser's membership in the chamber of appraisers shall be obliged to notify about it:

      1) the appraiser whose membership has been suspended or terminated;

      2) the customer and a legal entity with whom the appraiser has concluded an employment contract, if information about the concluded contract was previously provided to the chamber of appraisers;

      3) the authorized body in the field of evaluation activities.

      In case of termination of membership in the chamber of appraisers in connection with deprivation of the certificate of qualification "appraiser" on the grounds provided for by part one of paragraph 4 of Article 25 of this Law, the chamber of appraisers no later than three working days shall notify about it the chambers of appraisers, entered in the register of self-regulatory organizations of appraisers.

Article 20. Governing bodies of the chamber of appraisers

      1. The governing bodies of the chamber of appraisers shall be:

      1) general meeting of members of the chamber of appraisers;

      2) collegial governing body of the chamber of appraisers;

      3) executive body of the chamber of appraisers;

      4) control body (audit commission) of the chamber of appraisers.

      The procedure for formation, structure, competence and term of powers of governing bodies of the chamber of appraisers, the procedure for making decisions by these bodies shall be established by the charter of the chamber of appraisers in accordance with this Law and other laws of the Republic of Kazakhstan.

      2. The general meeting of members of the chamber of appraisers shall be the supreme governing body authorized to consider the issues of activity of the chamber of appraisers, related to its competence by this Law, other laws of the Republic of Kazakhstan and its charter.

      The exclusive competence of the general meeting of members of the chamber of appraisers shall include:

      1) adoption of the charter of the chamber of appraisers, introduction of changes and additions to it;

      2) determination of main directions of activity of the chamber of appraisers;

      3) approval of the budget of the chamber of appraisers;

      4) making decisions on voluntary liquidation of the chamber of appraisers and appointment of the liquidation commission;

      5) election of members of the collegial governing body, the head of the executive body and members of the control body (audit commission) of the chamber of appraisers, early termination of powers of these bodies or the head or their individual members;

      6) approval of reports of collegial and executive bodies, control body (audit commission) and specialized bodies in the manner and terms established by the charter of the chamber of appraisers;

      7) approval of regulation on membership in the chamber of appraisers;

      8) consideration of the issue on deprivation of certificates on assignment the qualification "appraiser", "expert";

      9) determination of the size of entrance and annual membership fees.

      The size of annual membership fees shall be not less than 25 times and not more than 75 times the size of the monthly calculation index established by the law on the Republican budget for the corresponding financial year.

      The size of the entrance fee should not exceed the size of the annual membership fees;

      10) determination of ways to ensure property liability.

      The procedure for holding the general meeting of the members of the chamber of appraisers, the procedure for forming the agenda of meetings, determining the quorum, conditions and procedure for voting shall be determined by the charter of the chamber of appraisers.

      The сharter of the chamber of appraisers may provide for other issues, the decision-making on which is referred to the exclusive competence of the general meeting of the members of the chamber of appraisers.

      3. The management of the chamber of appraisers shall be carried out by the collegial governing body of the chamber of appraisers, elected by the general meeting of members of the chamber of appraisers.

      The quantitative composition of the collegial governing body of the chamber of appraisers, the procedure and conditions of its formation and activity, decision-making, termination of powers shall be established by the charter of the chamber of appraisers.

      4. The competence of the collegial governing body of the chamber of appraisers shall include:

      1) approval of the rules and standards of the chamber of appraisers, introduction changes and (or) additions to them;

      2) submission of issues for consideration by the general meeting of members of the chamber of appraisers;

      3) making decisions on joining the chamber of appraisers, suspension and termination of membership in the chamber of appraisers;

      4) creation of specialized bodies of the chamber of appraisers, approval of regulations on them and the rules for implementation of their activities;

      5) other issues provided by this Law, other laws of the Republic of Kazakhstan and the charter of the chamber of appraisers.

      The functions of the collegial governing body may be carried out by the general meeting of members of the chamber of appraisers in the chamber of appraisers.

      5. The executive body of the chamber of appraisers shall:

      1) organize the work of the chamber of appraisers, carry out control over implementation of tasks assigned to the chamber of appraisers;

      2) carry out acceptance and dismissal of employees of the chamber of appraisers;

      3) represents the interests of the chamber of appraisers in state bodies, public associations and other organizations;

      4) exercise other powers provided by this Law, other laws of the Republic of Kazakhstan and the charter of the chamber of appraisers.

      6. The control body (audit commission) shall be the body of the chamber of appraisers, exercising control over financial and economic activities of governing bodies of the chamber of appraisers and their officials.

      The control body (audit commission) of the chamber of appraisers shall be accountable and controlled by the general meeting of members of the chamber of appraisers.

      The procedure and terms of submission of reports of control body (audit commission) shall be are determined by the charter of the chamber of appraisers.

Article 21. Ensuring property liability when carrying out evaluation activity

      1. The chamber of appraisers shall use one of the following methods to ensure its property liability and property liability of its members to customers and third parties:

      1) insurance of civil-legal liability of the appraiser and the chamber of appraisers;

      2) bringing of members of the chamber of appraisers to property liability;

      3) use of other methods of ensuring property liability provided by the laws of the Republic of Kazakhstan.

      The procedure for ensuring property liability shall be established by the chamber of appraisers.

      Losses caused to the customer who has concluded the contract for evaluation, or property damage caused to third parties due to the use of total market value or other value of the appraisal object specified in the evaluation report shall be reimbursed in accordance with the civil legislation of the Republic of Kazakhstan.

      2. The contract of insurance of civil-legal liability of the appraiser shall be concluded by a member of the chamber of appraisers for a period of not less than one year.

      The insurance amount shall be determined by the contract of insurance of civil-legal liability of the appraiser and should not be less than 5000 times the size of the monthly calculation index established by the law on the Republican budget and valid on the date of the contract of insurance of civil-legal liability of the appraiser.

      The object of insurance under the contract of insurance of civil-legal liability of the appraiser shall be the property interest of the appraiser associated with his (her) obligation to compensate for property damage caused to third parties as a result of his (her) evaluation activities, and (or) losses caused to the customer who concluded the contract for evaluation.

      The insured case under the contract of insurance of civil-legal liability of the appraiser shall be the fact of occurrence of civil-legal liability of the appraiser (policyholder) for compensation of the damage caused to the property interests of the customer and (or) a third party in carrying out evaluation activities.

Article 22. Control of the chamber of appraisers over the activities of its members

      1. The chamber of appraisers shall control compliance of the members of the chamber with the requirements of this Law, other normative legal acts, standards and rules of the chamber of appraisers, as well as the code of business and professional ethics of appraisers, conditions of membership in the chamber.

      2. The ground for conducting inspection by the chamber of appraisers shall be the appeal received by the chamber of appraisers, except for the cases provided for by paragraph 1 of this Article.

      The appeal, for consideration of which it is not required to obtain information from other subjects, officials or an on-site inspection shall be considered within fifteen calendar days from the date of its receipt.

      The appeal, for consideration of which it is required to obtain information from other subjects, officials or on-site inspection, shall be considered and a decision shall be made on it within thirty calendar days from the date of its receipt.

      3. The procedure for organizing, conducting inspections and considering appeals against members of the chamber of appraisers shall be established by the chamber of appraisers.

Article 23. Procedure for obtaining certificates of qualification "appraiser", "expert"

      1. Candidates applying for certificates of qualification "appraiser", "expert", shall take a qualification exam.

      2. Individuals with higher education, trained or retrained in accordance with the program and in the amount of hours approved by the chamber of appraisers, as well as training with the appraiser for a period of not less than one year shall be allowed to the qualification exam for obtaining a certificate of qualification "appraiser".

      The training program, professional retraining of candidates for appraisers and the amount of hours should correspond to the standard program approved by the authorized body in the field of evaluation activities.

      3. Appraisers shall be allowed to take a qualification exam for obtaining the certificate of qualification "expert".

      4. Persons shall not be admitted to the qualification examination in case of non-compliance with the requirements established by this Law.

      The decision on refusal in admission to the qualification exam shall be sent by the chamber of appraisers to the person not later than fifteen working days from the date of receipt of the application.

      5. Test tasks for the qualification exam of appraisers, experts shall be developed by the chamber of appraisers in coordination with the authorized body in the field of evaluation activity.

      The qualification exam shall be conducted in written form.

      6. The persons who have passed the qualification exam, shall receive a certificate of qualification "appraiser", "expert" indicating the number of the certificate, surname, name and patronymic (if it is specified in the identity document).

      Decisions on assignment of qualification "appraiser", "expert" shall be posted on the Internet resource of the chamber of appraisers.

      7. The persons who have not passed the qualification exam, shall be allowed to its re-take at expiration of three months from the date of the decision of the qualification commission.

      8. The forms and procedure for maintaining registers of the chamber of appraisers’ members, expert council members and unscrupulous appraisers shall be approved by the authorized body in the field of appraisal activities.

      Rules for issuing certificates of qualification "appraiser", "expert" shall be approved by the chamber of appraisers.

      9. Rules of carrying out qualification examination to confirm the qualifications of candidates for appraisers, experts shall be approved by the authorized body in the field of evaluation activity.

      Footnote. Article 23 as amended by the Law of the Republic of Kazakhstan dated 31.12. 2021 № 100 (shall be enforced sixty calendar days after the date of its first official publication).

Article 24. Qualification commission

      1. The qualification commission shall be a specialized body and created for conducting qualification examination for the persons applying to obtain certificates on assignment of qualifications "appraiser", "expert".

      2. The qualification commission shall consist of seven members and be formed from among the representatives of the authorized body in the field of evaluation activity, non-governmental organizations and members of the chambers of appraisers.

      The number of representatives of the chambers of appraisers should be the majority from the total number of the qualification commission.

      3. Members of the qualification commission shall be elected for a term of two years.

      4. The chairman of the qualification commission shall be elected from among the appraisers – members of the qualification commission.

      The same person may not be elected as the chairman of the qualification commission twice in a row.

      5. The procedure for activity of the qualification commission shall be established by the chamber of appraisers.

      6. Meetings of the qualification commission shall be held as necessary, but at least once every six months.

Article 25. Suspension, termination, deprivation of certificates of qualification "appraiser", "expert"

      1. Suspension of the certificate of qualification "appraiser" shall be carried out in the following cases:

      1) at own will;

      2) at the initiative of the chamber of appraisers on the results of control over the activities of the appraiser or consideration of the appeal of individuals and legal entities.

      At the same time, the suspension period of "appraiser" qualification certificate shall be three years without the right to appeal this decision to the chamber of appraisers, with a training course taken after expiry of the suspension period of "appraiser" qualification certificate.

      2. Termination of the certificate of qualification "appraiser" shall be carried out in the following cases:

      1) death of a person;

      2) recognition of a person as incapable or partially capable, dead or missing by the court decision that has entered into legal force;

      3) entry into force of the court conviction for criminal offences in the sphere of economic activity, as well as for crimes of medium gravity, committed intentionally, grave and especially grave crimes;

      4) the entry into force of the court decision on application of compulsory medical measures to a person;

      5) deprivation of the certificate on assignment of qualification "appraiser".

      3. Termination of the certificate of qualification "appraiser" shall be carried out by the decision of the collegial governing body of the chamber of appraisers.

      4. Deprivation of the certificate on assignment of qualification "appraiser" shall be carried out by the chamber of appraisers in cases of:

      1) repeated violation by the appraiser of the legislation of the Republic of Kazakhstan on evaluation activity or violation of the legislation of the Republic of Kazakhstan, which caused damage to the interests of the state, individuals and (or) legal entities;

      2) non-elimination of the reason specified in subparagraph 2) of paragraph 1 of this Article;

      3) establishment of the fact of providing false information or intentionally distorted information in the documents by the appraiser which were the grounds for issue of the certificate on assignment of qualification "appraiser";

      4) preparation of an inaccurate evaluation report more than twice.

      Persons deprived of the "appraiser" qualification certificate shall be allowed to recertify the qualification "appraiser" after five years from the date of the decision to withdraw the certificate of "appraiser" qualification.

      In the event of a repeated decision to revoke the appraiser qualification certificate, these persons shall not be allowed to recertify the appraiser qualification.

      The decision to withdraw the "appraiser" qualification certificate may be appealed in court in accordance with the laws of the Republic of Kazakhstan.

      5. In case of suspension or termination of the certificate of qualification "appraiser" the chamber of appraisers shall enter the relevant information indicating the date and time of termination of the certificate in the register of members of the chamber of appraisers with its publication on the Internet resource of the chamber.

      6. Termination of the certificate of qualification "expert" shall be carried out by the decision of the collegial governing body of the chamber of appraisers in the following cases:

      1) death of a person;

      2) recognition of a person as incapable or partially capable, dead or missing by the court decision that has entered into legal force;

      3) entry into force of the court conviction for criminal offences in the sphere of economic activity, as well as for crimes of medium gravity, committed intentionally, grave and especially grave crimes;

      4) the entry into force of the court decision on application of compulsory medical measures to a person;

      5) deprivation of the certificate on assignment of qualification "expert".

      In case of termination of validity of the certificate on assignment of qualification "expert", the chamber of appraisers shall submit the relevant information specifying the date and time of termination of the certificate in the register of members of the expert council with publication of it on the Internet resource of the chamber.

      7. Deprivation of the certificate on assignment of qualification "expert" shall be carried out by the chamber of appraisers in cases of:

      1) repeated violation by the expert of the legislation of the Republic of Kazakhstan on evaluation activity or violation of the legislation of the Republic of Kazakhstan, which caused damage to the interests of the state, individuals and (or) legal entities;

      2) drawing up of an unreasonable expert opinion on the market or other value of the appraisal object reflected in the evaluation report;

      3) deprivation of the certificate on assignment of qualification "appraiser";

      4) repeated violation of the requirements of the chamber of appraisers by the expert.

      The appraiser not earlier than three years after the decision on deprivation of the certificate on assignment of qualification "expert" shall have the right to receive the certificate on assignment of qualification "expert".

      Footnote. Article 25 as amended by the Law of the Republic of Kazakhstan dated 31.12. 2021 № 100 (shall be enforced sixty calendar days after the date of its first official publication).

Chapter 5. RIGHTS AND DUTIES OF THE CUSTOMER

Article 26. Rights of the customer

      The customer has the right:

      1) to receive from the appraiser or legal entity with which the appraiser has concluded an employment contract, comprehensive information on the requirements of the legislation of the Republic of Kazakhstan concerning the assessment;

      2) to get acquainted with the normative legal acts that are the basis of the evaluation report;

      3) receive from the appraiser or the legal entity with which the appraiser has concluded an employment contract the necessary information on the approaches to evaluation and methods of evaluation;

      4) refuse the services of an appraiser or a legal entity with which the appraiser entered into an employment contract, in case of violation of the terms of the contract for evaluation;

      5) exercise other rights provided by this Law and other laws of the Republic of Kazakhstan.

Article 27. Duties of the customer

      The customer shall:

      1) create conditions for the appraiser or a legal entity with whom the appraiser has concluded an employment contract for timely and qualitative evaluation in accordance with the contract for evaluation;

      2) provide the appraiser or a legal entity with whom the appraiser has concluded an employment contract, the documentation necessary for evaluation, complete and accurate information, as well as provide the necessary clarifications, ensure the appraiser's access to the appraisal object;

      3) not interfere with the activities of the appraiser, if it negatively affects the accuracy of the evaluation;

      4) send at the request of the appraiser or a legal entity with whom the appraiser has concluded an employment contract, a written request on its own behalf to the third parties to obtain the information necessary for the evaluation;

      5) perform other duties provided by this Law and other laws of the Republic of Kazakhstan.

Article 28. Disputes resolution

      Disputes arising between the chamber of appraisers, the appraiser, a legal entity with whom the appraiser has concluded an employment contract, the customer or the third parties in the implementation of evaluation, including those not resolved through the examination of the evaluation report, shall be resolved in the court.

Chapter 6. STATE REGULATION OF EVALUATION ACTIVITIES

Article 29. State control in the field of evaluation activity

      Footnote. The title as amended by the Law of the Republic of Kazakhstan dated 24.05.2018 № 156-VI (for the procedure of enforcement, see subparagraph 4 of paragraph 1 of Article 2).

      1. The authorized body in the field of evaluation activities shall carry out state control in the field of evaluation activities, over compliance with the legislation of the Republic of Kazakhstan, the charter of the chamber of appraisers and its adopted rules and standards by the chambers of appraisers.

      2. State control in the field of valuation activities over the activities of chambers of appraisers is carried out through inspections and preventive control with a visit to the subject of control in accordance with the Entrepreneurial Code of the Republic of Kazakhstan.

      3. The decision on conducting the inspection of activity of the chambers of appraisers shall be accepted by the authorized body in the field of evaluation activities on the basis of applications of individuals and legal entities, requests and inquiries of state bodies, local self-government bodies, law enforcement bodies on violation by the chamber of appraisers, its members of the requirements of the legislation of the Republic of Kazakhstan, charter of the chamber of appraisers and its adopted rules and standards.

      4. In case of detection of violations of the legislation of the Republic of Kazakhstan, the charter of the chamber of appraisers and the rules and standards adopted by it, the authorized body in the field of appraisal shall send a submission on elimination of violations to the chamber of appraisers.

      In case of non-elimination of violations within the prescribed period, the authorized body in the field of evaluation activities shall take measures in accordance with the legislation of the Republic of Kazakhstan.

      The authorized body in the field of evaluation activity shall apply to the court for the forced liquidation of the chamber of appraisers with the subsequent exclusion from the register of self-regulating organizations of appraisers on the grounds provided for by paragraph 6 of Article 16 of this Law.

      Footnote. Article 29 as amended by the Law of the Republic of Kazakhstan dated 24.05.2018 № 156-VI (for the procedure of enforcement, see subparagraph 4 of paragraph 1 of Article 2); dated 06.04.2024 № 71-VIII (shall be enforced upon expiration of sixty calendar days after the day of its first official publication).

Article 30. Competence of the authorized body in the field of evaluation activity

      The competence of the authorized body in the field of evaluation activities shall include:

      1) formation and realization of the state policy in the field of appraisal activity;

      1-1) development and approval of regulatory legal acts of the Republic of Kazakhstan in the field of appraisal activity in accordance with the purpose and objectives of the Law and legislation of the Republic of Kazakhstan;

      2) control over the activities of the chamber of appraisers;

      3) maintaining the register of self-regulating organizations of appraisers;

      3-1) maintaining a register of unscrupulous appraisers;

      4) analysis of regulatory impact in the field of evaluation activities;

      5) excluded by the Law of the RK dated 01.07.2024 № 107-VIII (shall enter into force upon expiry of sixty calendar days after the day of its first official publication).

      6) harmonization of rules and standards of the chambers of appraisers;

      7) requesting information on the activities of the chambers of appraisers;

      8) delegation of representatives to the qualification commission;

      9) filing a claim to the court for compulsory liquidation of the chamber of appraisers on the grounds provided for by this Law;

      10) Excluded by the Law of the RK dated 01.07.2024 № 107-VIII (shall enter into force upon expiry of sixty calendar days after the day of its first official publication).
      11) Excluded by the Law of the Republic of Kazakhstan dated 31.12. 2021 № 100 (shall be enforced sixty calendar days after the date of its first official publication).

      12) Carrying out other powers provided for by this Law, other laws of the Republic of Kazakhstan, acts of the President of the Republic of Kazakhstan and the Government of the Republic of Kazakhstan.

      Footnote. Article 30 as amended by the Law of the Republic of Kazakhstan dated 31.12. 2021 № 100 (shall be enforced sixty calendar days after the date of its first official publication); dated 01.07.2024 № 107-VIII (shall enter into force upon expiry of sixty calendar days after the day of its first official publication).

Chapter 7. FINAL AND TRANSITIONAL PROVISIONS

Article 31. Liability for violation of the legislation of the Republic of Kazakhstan on evaluation activities

      Persons who have violated the legislation of the Republic of Kazakhstan on evaluation activities shall be liable in accordance with the laws of the Republic of Kazakhstan.

Article 32. Transitional provisions

      1. The chambers of appraisers may be established upon expiration of three months from the date of the first official publication of this Law.

      When creating the chamber of appraisers its members may be the appraisers – individuals having the license to conduct evaluation activities.

      2. Qualification Commission is created by the chamber of appraisers within three months from the date of establishment of the chamber of appraisers.

      3. Legal entities registered before the entry into force of this Law using in their names full or partial phrases "chamber of appraisers", "Republican chamber of appraisers" shall be subject to reorganization or liquidation from the date of entry into force of this Law.

      4. Appraisers – individuals having the licenses for the right to carry out evaluation activities, shall have the right to obtain in the chamber of appraisers the certificate of qualification "appraiser" without taking the qualification exam from the date of entry into force of this Law.

      5. From the date of entry into force of this Law, the licenses issued to legal entities for carrying out evaluation activities and received by them before the entry into force of this Law shall be deemed invalid.

Article 33. The procedure for enforcement of this Law

      1. This Law shall be enforced upon expiry of six months after its first official publication, except for subparagraph 3) of Article 30 of this Law, which shall be enforced upon expiry of three months after its first official publication.

      2. To recognize as invalid the Law of the Republic of Kazakhstan dated November 30, 2000 "On Valuation Activities in the Republic of Kazakhstan" (Vedomosti of the Parliament of the Republic of Kazakhstan, 2000, № 20, Art. 381; 2001, № 24, Art. 338; 2003, № 3, Art. 19; № 10, Art. 54; 2004, № 23, Art. 142; 2007, № 2, Art. 18; 2009, № 23, Art. 97; 2010, № 5, Art. 23; 2011, № 3, Art. 32; № 5, Art. 43; № 6, Art. 49; № 11, Art. 102; 2012, № 14, Art. 95; № 15, Art. 97; 2014, № 1, Art. 4; № 10, Art. 52; № 19-I, 19-II, Art. 96; № 23, Art. 143; 2015, № 20-IV, Art. 113; № 22-II, Art. 145; № 23-II, Art. 172).

      The President
of the Republic of Kazakhstan
N. NAZARBAYEV

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