Nursultan Nazarbayev, the Kazakhstan President signed the Law of the Republic of Kazakhstan “On amendments to the Code of the Republic of Kazakhstan on Administrative Offences”, providing retroactive article for exceeding quotas for greenhouse gas emissions and reduction of fines for those violations, as reported by  “Zakon.kz IA”

 

The law gives retroactive effect to article 243-1 of the Administrative Code (exceeding of established quotas for greenhouse gas emissions) in order to put it into effect on 1 July 2014. In addition,  it implies a reduction of the fine for exceeding quotas for greenhouse gas emissions from 10 to five MCI.

The Act does not charge accrued fines industrial enterprises for excess emissions of greenhouse gases in 2013, which comprise for the energy industry 208 billion tenge, and oil and gas sector – 30 billion tenge.

The law stipulates a phased introduction of the mechanism responsible for excess volume of quotas for greenhouse gas emissions.