M. Narikbayev KAZGUU University presented the Draft Concept of the new Civil Code of the Republic of Kazakhstan. The draft concept was presented at a meeting with the Vice Minister of Justice of the Republic of Kazakhstan Pan Nataliya Vissarionovna.
In September 2019, a Research Center on Private Law was specifically created to design the draft concept in KAZGUU from among academics of all generations, who worked intensively on the project during the year.
Members of the working group noted that the new civil code is a necessity, determined by time in light of the fourth industrial revolution. Current civil law does not meet current trends in the development of the market, society, digitalization, virtualization.
The current Civil Code is the two Laws adopted in 1994 and 1999 based on the Model Civil Code for the CIS countries during the transition of these countries to a market economy.
’It must be understood that the current Civil Code was adopted at the initial stage of the existence of the young independent Republic, for which market relations were a relatively new ‘phenomenon’. There was no opportunity to analyze the practice of most institutions. Subsequent numerous amendments could not adequately ensure the stability of civil-law transactions. In fact, the legislation today is significantly ‘lagging behind’ rapidly developing new institutions and relations regulated by it’,-noted Pen Sergey, Provost of KAZGUU.
According to lawyers, the new code will solve the existing problems of law enforcement practice.
The concept of the new Civil Code draft was designed taking into account the development of information technology aimed to adapt legislation to the needs of the modern market, ensuring the stability of civil-law transactions and protecting the interests of bona fide participants in civil circulation.
The draft’s authors took into account the best foreign experience and offer a model for the implementation of some institutions of German and English law with their adaptation to the conditions of Kazakhstani reality.
Special attention is paid to strengthening the basic principles of civil law. Many provisions are included to protect the property interests of the weaker parties and minors.
As a result, innovations addressed all institutions: transactions, bindings, contracts, the law of property, death estate, conflict-of-laws rules, etc.