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Regulation (EU) 2015/760 of the European Parliament and of the Council of 29 April 2015 on European long-term investment funds

The new Funds - European Long-Term Investment Funds (ELTIFs) will be available to all types of investors across Europe, subject to certain requirements set out in EU law. These requirements include the types of long-term assets and firms that the ELTIFs are allowed to invest in, for example infrastructure, transport, intellectual property and sustainable energy projects; how they have to spread their money to reduce risks and the information they have to provide to investors. There are additional rules for ELTIFs offered to retail investors. Any ELTIF manager will also have to comply with the stringent requirements of the Alternative Investment Fund Managers Directive to provide adequate protection for its investors.

The existing laws and regulations related to (domestic and foreign) investment (...)
• Law on Mineral Resource Management and Exploitation (2001).

The new investment law seeks to promote investment and foster business creation and development in accordance with domestic economic priorities by, for example:

- increasing the value added, competitiveness and export capacity of the domestic economy and expanding its technology component, regionally and internationally, as well as developing priority sectors;

- creating jobs and promoting a more skilled workforce;

- achieving integrated and balanced regional development;

- achieving sustainable development.

The existing laws and regulations related to (domestic and foreign) investment (…)
• Law on Forestry (2002)

Trade-related Investment Measures in the Oil and Gas and Mining Sector
Law of the Republic of Kazakhstan No. 291-IV «On Subsurface and Subsurface Use» of 24 June 2010

Chapter 1. General provisions
Article 3. Sphere of application of this Law
(…)
2. Relations with regard to the use and protection of land, water (except for ground water and therapeutic muds), forests, flora and fauna, and atmospheric air shall be regulated by special legislation of the Republic of Kazakhstan. (...)

Article 4. Aims and objectives of the legislation of the Republic of Kazakhstan on subsurface and subsurface use
1. The aims of legislation of the Republic of Kazakhstan on subsurface and subsurface use shall be the provision of the economic growth and the protection of interests of the Republic of Kazakhstan and its natural resources.
(...)

Article 5. Principles of the legislation of the Republic of Kazakhstan on subsurface and subsurface use
Legal regulation of relations related to the subsurface and subsurface use shall be based on the following principles:
(...) 2) the provision of the protection of subsurface and environment; (...)

Article 7. The provision of the protection of subsurface and environment
An obligatory condition for exercising the right to subsurface use is the provision of prevention of subsurface contamination and reduction of the harmful impact of subsurface use operations on the environment.
(...)

Trade-related Investment Measures in the Oil and Gas and Mining Sector
Law of the Republic of Kazakhstan No. 291-IV «On Subsurface and Subsurface Use» of 24 June 2010

Chapter 6. Subsurface use contract
Article 65. Appraisal work project
2. An appraisal work project shall be subject to the following mandatory expertise:
1) State ecological expertise;
2) in the sphere of industrial safety;
3) sanitary and epidemiological expertise.
Appraisal work project that does not include the project development of commercial production or the project trial operation, is subject to the State ecological expertise.
(...)

Article 66. Project documents for production works performance
2. With regard to solid and widespread mineral deposits and underground water the following documents shall be prepared:
1) a project of commercial development of the deposit which shall include the time schedule of mining and production work, technical solutions ensuring the specified productivity and other associated production operations; measures ensuring the compliance with the requirements on rational and comprehensive use of minerals, personnel operational safety, protection of environment; reclamation of disturbed soils, as well as data on funding of the planned work with the breakdown by years;
(...)
Project documents should provide a rational and integrated use of the subsoil with the requirements of environmental, sanitary-epidemiological and industrial safety.
5. The project documents for production operations shall be subject to the following mandatory expertise:
1) State ecological;
(...)

Article 70. Territorial scope of a contract
3. If conducting subsurface use operations in a portion of subsurface is impossible or difficult or may result in excessive costs for the subsurface user without granting him an easement for the adjacent or other a portion of subsurface, the person interested in obtaining an easement (applicant for an easement) shall have the right to apply to a subsurface user whose portion of subsurface shall be subject to the creation of an easement, with a proposal to execute an agreement on creation of an easement. (...)
Creation of an easement shall be prohibited to the extent when such creation may cause a threat to the life and health of people or the environment and also when it makes it impossible to carry out exploration and (or) production in the a portion of subsurface.
---

Chapter 7. Rights and obligations of a subsurface user
Article 76. Obligations of a subsurface user
1. A subsurface user shall be obliged:
(...)
2) to ensure the safety of human life and health and environmental safety in the conducting subsurface use operations; (...)
7) to observe the provisions of project documents and technological schemes relating to the performance of subsurface operations that are agreed in the procedure established by the legislation of the Republic of Kazakhstan and that ensure the safety of the life and health of the personnel and the population, as well as the rational and comprehensive use of subsurface and environmental protection; (...)
25) to restore land plots and other natural sites disturbed as a result of subsurface use operations to a condition suitable for their further use in accordance with the legislation of the Republic of Kazakhstan;
26) to forecast the environmental consequences of its activities at a design stage;
27) to conclude a contract on mandatory ecological insurance; (...)

Article 80. Obligations of a subsurface user upon termination of subsurface use operations
1. Upon termination of subsurface use operations, all production facilities of the subsurface user and the land plots shall be brought to a condition ensuring the safety of the life and health of the population and environmental protection, and the consequences of the activity of subsurface users shall be liquidated in accordance with the procedure established by the legislation of the Republic of Kazakhstan.
(...)

Article 81. Ownership of the equipment and other property of a subsurface user
(...) 3. The dismantling and removal of equipment and other property from the contract area, regardless of the ownership of such equipment and other property shall be performed in a manner which shall be safe for human life and health and for the environment, and in compliance with the legislation of the Republic of Kazakhstan.

Investment Incentive Program

Trade-related Investment Measures in the Oil and Gas and Mining Sector
Law of the Republic of Kazakhstan No. 291-IV «On Subsurface and Subsurface Use» of 24 June 2010

Chapter 12. State control over subsurface protection, study and use
Article 116. State control over subsurface protection
1. State control over subsurface protection shall be exercised by the authorized body for environmental protection.
2. The task of the State control over subsurface protection shall be to ensure control over compliance by subsurface users with the subsurface and subsurface use legislation of the Republic of Kazakhstan as it relates to the prevention of subsurface pollution in the course of subsurface use operations and a decrease in harmful environmental impacts on the environment, as well as the detection and control of illegal use of mineral resources.
3. State control over subsurface protection shall include:
1) State monitoring of the protection of subsurface;
2) control over compliance with licensing and contractual terms relating to the protection of subsurface;
3) control over burial of harmful substances, radioactive waste and discharge of waste water into subsurface;
4) control over the prevention of subsurface pollution, flooding, fire and technogenic processes damaging deposits and other environmental objects;
4-1) control measures to detect and prevent illegal use of mineral resources.
5) control over conservation and liquidation of subsurface use facilities;
6) control over the performance of measures aimed at preventing emergency or other hazardous situations in the course of subsurface use operations;
7) control over compliance with environmental standards and rules when using subsurface and processing mineral raw materials;
8) control over compliance with design solutions relating to environmental protection in the course of production and processing of mineral raw materials.

The existing laws and regulations related to (domestic and foreign) investment (...)
• Law on Forestry (2002).

The existing laws and regulations related to (domestic and foreign) investment (…)
• Law on Environmental Protection and Natural Resource Management (1996) .