The Antitrust law is known as “anti-monopoly” law in Kazakhstan. The Antitrust/Competition Law provides legal bases of prevention, restriction and suppression of monopolistic activity and unfair competition. Basically the Antitrust/Competition Law is aimed at providing conditions for effective functioning of competitive relations on the commodity and financial markets.
The Сomercial Code of the Republic of Kazakhstan entered into force in 2016, previously repealed the Law on Competition and a number of bylaws. The Code contains the section “Economic Competition” and is the main act governing relations in this area.
The Codeis applied to the actions of business entities, individuals, state administrative bodies and local organs of state power, which lead or may lead to restriction of competition on the commodity and financial markets of the Republic of Kazakhstan, to be made in Kazakhstan and outside the country. The most authorities under the Antitrust/Competition Law are delegated to the Committee on Regulation of Natural Monopolies and Protection of Competition of the Ministry of National Economy of the Republic of Kazakhstan (the Committee) and its subordinate territorial departments constitute the central executive body in the field of protection of competition, restriction of monopolistic activity and control and regulation of activities related to the state monopoly..
Our law firm offers the following services in the sphere of Antitrust/Competition:
- handling regulatory matters in antimonopoly authorities of Kazakhstan, including obtaining of preliminary consents of above bodies for merger and acquisition;
- representation corporate clients in front of antimonopoly authorities to help with anything from investigation of violation of the Commercial Code to dispute resolution in courts;
- verifying of business contracts in respect to their correspondence to the antimonopoly requirements of the Kazakhstan legislation.