1. The legal framework for the SWF should be sound and support its effective operation and the achievement of its stated objective(s).
1.1. The legal framework for the SWF should ensure legal soundness of the SWF and its transactions.
1.2. The key features of the SWF’s legal basis and structure, as well as the legal relationship between the SWF and other state bodies, should be publicly disclosed.
Joint Stock Company Sovereign Wealth Fund «Samruk-Kazyna» (hereinafter – S-K) was founded in accordance with the Decree of President of the Republic of Kazakhstan dated 13 October 2008, № 669 «Оn some measures on competitiveness and sustainability of national economy» and by the Decree of the Government of the Republic of Kazakhstan dated 17 October 2008 № 962 «Оn measures on realization of the Decree of President of the Republic of Kazakhstan № 669»; by merging two joint stock companies Kazakhstan Holding for the Management of State Assets SAMRUK and KAZYNA Sustainable Development Fund.
It performs its functions according to the Law of RoK "On Sovereign Wealth Fund" (hereinafter -Law on SWF), "On Joint Stock Companies" (hereinafter – Law on JSC), S-K Charter, and other respective laws of Republic of Kazakhstan (RoK).
S-K fulfils its activities in accordance with laws of the Republic of Kazakhstan, Law on SWF, S-K Charter and internal documents of S-K.
The Government segregates its powers of the Sole Shareholder of the S-K from its powers related to state regulatory functions.
Legal relationships between the S-K and the Government are specified in the Law on SWF, S-K Charter, Agreement between Government and the S-K approved by Decree of the Government dated 14 December 2012 №1599 and S-K Corporate Governance Code and relevant industry legal acts. The key features of the SWF's legal basis and structure are specified in the Law on SWF.
The S-K Charter, Law on SWF, Agreement between Government and the S-K, CG Code are publicly disclosed.