Published
02/04/2025, 13:32Deputy of the Jogorku Kenesh Eldar Abakirov introduced a draft law ‘On Amnesty in respect of certain objects privatised from 1991 to 2024’. The bill aims to legalise privatised property owned by bona fide owners and is intended to strengthen the right of private property in the country.
The bill proposes to recognise legal ownership of all properties privatised from 31 August 1991 to 31 December 2024 if they are owned by bona fide purchasers with relevant documents. The amnesty will not apply to objects that were not subject to privatisation, as well as to objects of social, domestic and socio-cultural purposes.
‘The existing legal uncertainty regarding privatised properties creates an unfavourable investment climate. Citizens who bought property on the open market face the risk of litigation and potential loss of property due to violations committed in the privatisation process in the past,’ the deputy believes.
According to the author of the initiative, the adoption of the law will protect the rights of owners, eliminate legal uncertainty, reduce the number of legal disputes and stimulate investment in the country's economy. Abakirov emphasises that the amnesty will not require additional expenditures from the national budget.
It is noted that legalisation is irreversible. State bodies and officials violating the provisions of the law will be held liable. However, the amnesty does not apply to objects that were not subject to privatisation in the first place and objects of social purpose. In addition, legalisation can be cancelled through the court if it is proved that the owner provided false information when acquiring the object.
