Majilis approves Entrepreneurial Code

According to the Minister of Justice Berik Imashev, who presented the bill, the project does not create a duality of private law and is aimed at regulating social relations that arise in connection with the interaction of businesses and the state. Minister Imashev noted that the draft Code consolidated functional laws regulating business activity in general. Industry types of business will be regulated by special laws. The code secured uniform principles on the basis of which business entities and the state will interact. However, some of the proposed principles are new. These include the principle of social responsibility of business; limited state involvement in business activities; self-regulation in the field of entrepreneurship; mutual responsibility of businesses and the state. Separate section of the code is devoted to the interaction between business and the state. Majilis deputies have also reviewed and approved in the first reading amendments to the related legislation.