GROUNDS FOR TERMINATION OF THE SUBSURFACE USE RIGHT BY THE EXAMPLE OF KAZAKHSTANMukasheva Anar Abayhanovna, Umirzakov Pernebek Kurashovich, Tuleubaeva Gulnur Zhaksybaykyzy, Bimbetov Ashat Bolatbekovich and Sarsembaeva Nargiz Serikovna
The article deals with the issues of legal regulation of the grounds for termination of subsurface use right, revelation of compliance of the RK legislation with the international legislation as well as the legislations of foreign countries. It has been revealed that the applicable legislation of Kazakhstan does not comply with the international standards and infringes upon the interests of the foreign investors. The conducted research shows that in order to improve the legislation of the Republic of Kazakhstan and to prevent the conflicts between foreign investors and the state bodies of the Republic of Kazakhstan it is necessary: 1) to systematize the administrative legislation of the Republic of Kazakhstan and to expand the scope of the RK Law On Administrative Procedures; 2) to introduce such notion as invalidation of an administrative act and legally regulate this procedure as well as to settle the issues of legal consequences of an administrative act invalidation; 3) to legislate complete and itemized list of obligatory conditions, which are necessary to be reflected at concluding a subsurface use contract; 4) to strengthen the procedure of the tendering process transparence and with this aim to use the mechanism of tendering process public monitoring; 5) to toughen the responsibility of the persons, providing unreliable information for gaining the right of subsurface use.
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