On October 23, 2024, a working meeting was held under the leadership of A.K. Kanatov, Executive Director of the Institute of Parliamentarism, to discuss the draft law "On Amendments and Additions to Certain Legislative Acts Regarding Conditional Land Shares."
The draft law was initiated by deputies from the Nationwide Social Democratic Party (OSDP). The discussion included representatives of the OSDP faction, experts in land relations and land management, as well as a lawyer from the Bar Association of Astana.
During the meeting, Maksut Nasibulov, Head of the Central Office of the OSDP, presented an analysis of the management of land plots owned by limited liability partnerships (LLPs). He highlighted several issues affecting the rights and interests of shareholders, including the frequent practice of LLPs mortgaging land plots to banks without notifying or obtaining consent from shareholders. There are also challenges related to exiting LLPs, with shareholders encountering obstacles when attempting to establish their own farms. Additionally, Nasibulov noted that many shareholders either do not receive dividends at all or receive incomplete payouts.
A lawyer from the Bar Association of Astana, A. Ilkenova, discussed legal cases involving the violation of shareholders' rights. She outlined key issues shareholders face in court, such as disputes over illegal land transfers, difficulties in leaving LLPs, and the recovery of unpaid dividends.
Land relations and land management expert Z. Sattibaev stressed the importance of considering the interests of LLPs as private business entities when addressing land legislation. He emphasized that these businesses create local jobs and contribute to the development of social infrastructure, which aligns with the government's focus on supporting business and fostering entrepreneurial activity. At the same time, he acknowledged that shareholders' issues are urgent and require swift resolution.
The meeting participants discussed the legal regulation of conditional land shares, the relationship between shareholders and LLPs, and mechanisms for protecting shareholders' interests. In conclusion, A.K. Kanatov expressed gratitude to the participants and emphasized the importance of joint efforts in addressing these critical issues. He reiterated that the Institute of Parliamentarism would continue to facilitate constructive dialogue between lawmakers, experts, and the public to develop effective legislative solutions.
