OREANDA-NEWS. December 22, 2014. Draft Law "On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Subsoil Use" has been considered in two readings at the plenary session of the Senate.

"The bill is aimed at removing the obstacles discovered in the activities of subsoil users, improving the legal base, implementation of international standards, improving the investment climate and attracting foreign investment," said the Minister of Investment and Development Asset Issekeshev, submitting the bill.

According to him, the Australian model was taken as the basis for drafting the bill. This decision was taken after 1.5 years of research, at the suggestion of the World Bank.

The Minister noted that the transparency and simplicity of the procedures for granting the right of subsoil use in Australia is the standard of investment attractiveness in the world.

The bill provides 189 system and conceptual amendments. For example, simplification of access to geological information, the introduction of the auction as a new way of winners, reduction of compulsory examinations, optimization of the provisions of the model-based contract are provided.

Senator Yerlan Nigmatulin, who delivered a report, said that a number of proposals for amendments to the document approved by the Majilis came from committees.

"All accepted proposals made 5 positions, they have been included in the comparison table. If we talk about these offers, they are as follows. Firstly, additional article has been included in the bill because of amendments to the concept "penalty" in Article 44 of the Administrative Code. Secondly, a proposal to clarify the types of expertise that are the basis for subsoil use operations. Thirdly, functions of the central government authority in this field have been clarified. In addition, two amendments were made concerning the legal technique," Y.Nigmatulin said.

After discussion, it was decided to send the bill, as amended, to the Majilis.