On 6 April 2024, Kazakhstan adopted a law that will amend and supplement certain legislative acts on doing business (the Law). The Law amends a number of fundamental national legislative acts, including the Land Code, the Entrepreneurial Code, and the Code on Administrative Offenses, among others. This LawFlash covers only those changes that have been introduced into the Entrepreneurial Code (the EC), including Section 4 of the EC, “Economic competition.” The Law will come into force on 8 June 2024.
NEW DEFINITIONS AND CLARIFICATIONS
The Law[1] gives the following new definitions:
- Conglomerate
- Related markets
- Rights allowing to give binding directions to other market entity
- Negative control
[1] Law of the Republic of Kazakhstan dated 6 April 2024, No. 71-VIII, On amending certain legislative acts of the Republic of Kazakhstan on doing business.
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