ГРАЖДАНСКОЕ ПРАВО И ПРОЦЕСС

Kazakhstan: Improving a Legal Framework for a Corporate Structure

Аннотация

In the presented abstract of the article, the author examines the problems of improving a legal framework for a corporate structure; the main article was published by the European Academy of Sciences and Research in Proceedings and is available at the link. The author notes that according to best international practice and Kazakhstan legislation, the correct corporate structure is one of the key elements of an effective corporate governance system. Drawing attention to the fact that a dualistic model of corporate structure operates in the Republic of Kazakhstan, the author notes that this largely determines the level and quality of legal guarantees, as well as the degree of protection of the rights of members of commercial corporations, company creditors, investors and other interested parties. Attention is drawn to the imperative nature of regulation of the corporate structure, which does not allow contractual regulation of these issues by the participants (shareholders) of the company. In this regard, the author concludes that the modernization of corporate legislation in Kazakhstan should not begin with fragmentary changes, but should take into account the peculiarities of the national legal system (as well as the Civil Code).