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President signed amendments to legislation concerning modernization of arbitration courts

Astana. February 5, 2010. Kazakhstan Today - The head of state, Nursultan Nazarbayev, signed the law on the amendments and additions to some acts of Kazakhstan concerning immunity of the state and its property, modernization of the activity of the arbitration courts and the international commercial arbitration, the agency reports citing the president's press service informed.

According to the press service, the law is directed at maintenance of immunity of the Republic of Kazakhstan and its property from jurisdiction of courts of foreign states.

As informed earlier, the bill is directed at legislative regulation of the questions of immunity of the state and its property from the international arbitration and arbitration trial, and also differentiation of competence of arbitration court and commercial arbitration, coming into force, execution and suspension of decisions, their revision and appeal, and also cancellation and possibility of repeated arbitration or arbitration trial. The introduced amendments bring the norms of the law on international commercial arbitration in conformity with the international legislation.