22.05.2008, 15:24 2581

Senate approved amendment to legislation on state registration of legal entities

Today at the plenary session Senate deputies approved in the first reading the bill on introduction of additions and amendments into the Law on State Registration of Legal Entities and Registration of Branches and Representations," the agency reports.

Astana. May 22. Kazakhstan Today - Today at the plenary session Senate deputies approved in the first reading the bill on introduction of additions and amendments into the Law on State Registration of Legal Entities and Registration of Branches and Representations," the agency reports.

As it was informed earlier, the purpose of the bill is creation of conditions for development of private business in the Republic by simplification of procedure of registration of subjects of medium and large business.

The bill introduces amendments regarding establishment of the minimal term of registration of subjects of medium and large business who have made a decision to carry out their activity on the basis of Standard Charter. Minimal term of the state registration (re-registration) of legal entities, making no more than three working days from the date of submission of the application, is meant only for subjects of small business.

The bill has been forwarded to the Senate profile committee to be prepared for the second reading.

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