On restoration of solvency and bankruptcy of citizens of the Republic of Kazakhstan
18.05.2026 13:16:25 313
In accordance with Article 15 of the Law of the Republic of Kazakhstan "On restoration of solvency and bankruptcy of citizens of the Republic of Kazakhstan". A financial manager may be a citizen of the Republic of Kazakhstan, whose notification of the commencement of the financial manager's activity is included in the state electronic register of permits and notifications in accordance with the legislation of the Republic of Kazakhstan on permits and notifications.
The notification of the commencement of the financial manager's activity may be submitted:
1) an administrator who carries out activities in accordance with the Law of the Republic of Kazakhstan "On Rehabilitation and Bankruptcy";
2) professional accountant;
3) the auditor;
4) Legal consultant.
The Financial Manager is not entitled to exercise his powers in the following cases::
1) whether he has claims or obligations to the debtor or his creditors;
2) if he is a close relative, spouse, or close relative of the debtor's or creditor's spouse.
If the data specified in the notice of commencement of activity changes, the financial manager is obliged to send a notification of these changes to the authorized body within ten working days from the date of the data change.
Upon termination of activity, the financial manager is obliged to send a corresponding notification to the authorized body within ten working days from the date of termination of activity.
The exclusion of the notification of the financial manager from the state electronic register of permits and notifications is carried out by the authorized body within five working days from the date of identification of the cases established by paragraph 9 of this Article.
The authorized body, within five working days from the date of exclusion of the notification from the state electronic register of permits and notifications, shall send to the debtor and creditor information on the exclusion of the financial manager from such register and on the appointment of a new financial manager. A person whose notification is excluded by the authorized body from the state electronic register of permits and notifications has the right to re-submit a notification on the commencement of the financial manager's activity, provided that the reasons for the exclusion are eliminated, but not earlier than three years after the date of exclusion.
Source : https://www.gov.kz/memleket/entities/kgd-sko/press/news/details/1222313?lang=kk