ON DEVELOPMENT OF CORPORATE LAW IN THE RUSSIAN FEDERATION AND THE REPUBLIC OF KAZAKHSTAN RATHER-LEGAL ANALYSIS

Abstract

This article considers the development of the contemporary laws of the Republic of Kazakhstan and the Russian Federation on commercial legal entities that provide for participation(membership) therein. The development of corporate law in these countries occurs based on their own experience, research and works of the pre-revolutionary and Soviet periods, under the influence of the Romano-German and Anglo-Saxon legal families. A comparative analysis of the laws of these states in the same periods from the end of the 80-s of the twentieth century to the present has been carried out. The article examines stages of improvement of the Russian Federation’s corporate law mentioned in Russian lawyers’ works, there was also made an attempt to periodize the development of corporate law in the Republic of Kazakhstan. The article deals with the most significant changes in the legislation of both countries on commercial legal entities based on membership (participation).The article explores the issues of reforming civil corporate legislation in the Russian Federation, implemented in the Concept for Development of Corporate Law until 2008 and the Concept for the Development of Civil Law prepared in pursuance of Decree of the President of the Russian Federation dated July 18, 2008 No. 1108 ‘On improving the Civil Code of the Russian Federation’. Considering the existing prerequisites for the convergence of corporate laws of these countries in connection with their participation in the Commonwealth of Independent States, the Eurasian Economic Union and availability of agreements on the harmonization of legislations, the article suggests to assimilate some legal structures into the laws of the Republic of Kazakhstan from the law of the Russian Federation, which, in the author’s opinion, are the most acceptable. The study also contains other proposals for further improvement of corporate law of the Republic of Kazakhstan.