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Edition: U.S. Article Comments (0) Save Email Print Reprints Most Popular Most Shared Democrats' tax bill moves toward vote in US Senate 14 Jun 2010 Magnitude 5.7 quake strikes southern California 3:24am EDT FBI files reveal Ted Kennedy death threats 12:30am EDT Cheap blood drug "could save 100,000 lives a year" 14 Jun 2010 Armed couple detained at key military base 14 Jun 2010 Euro bounce running out of steam on profit-taking | Video 1:37am EDT Credit raters could catch a break in Wall St bill | Video 12:15am EDT BP faces grilling in Congress | Video 2:24am EDT BP falls 10 percent on dividend worries 14 Jun 2010 TOPWRAP 4-Spain sees credit squeeze, denies EU rescue bid 14 Jun 2010 Magnitude 5.7 quake strikes southern California 3:24am EDT Cholesterol drug side effects need watching: study 20 May 2010 Cheap blood drug "could save 100,000 lives a year" 14 Jun 2010 Common blood pressure drugs may raise cancer risk 13 Jun 2010 Democrats' tax bill moves toward vote in US Senate 14 Jun 2010 Exclusive: Bill Gates-backed nuclear startup raises $35 million 14 Jun 2010 BP unveils new oil spill plan as shares tumble | Video 14 Jun 2010 Afghan mineral wealth could top $1 trillion: Pentagon 14 Jun 2010 Murder rates affect IQ tests scores: study 14 Jun 2010 Microsoft Kinect arrives November 4th 12:27am EDT Kazakh president declared Leader of the Nation Raushan Nurshayeva ASTANA Tue Jun 15, 2010 2:56am EDT Related News Kazakh uranium drive sheds Soviet nuclear legacy Mon, Jun 14 2010 Scenarios: What next for Kyrgyzstan? Mon, Jun 14 2010 Kazakhstan, China sign gas, nuclear energy deals Sat, Jun 12 2010 At least 46 killed in southern Kyrgyz ethnic riots Fri, Jun 11 2010 Sanctions affect Iran in C. Asia security bloc Fri, Jun 11 2010 Kazakhstan's President Nursultan Nazarbayev speaks at the opening of the Kazakhstan Investment Summit in Almaty June 3, 2010. Credit: Reuters/Shamil Zhumatov ASTANA (Reuters) - President Nursultan Nazarbayev was declared Kazakhstan's Leader of the Nation on Tuesday, which could signal the start of his gradual departure from the political scene in the oil-producing Central Asian nation. World The law grants Nazarbayev the right to shape policy after retirement and immunity from prosecution. He had earlier rejected the draft but has not formally vetoed it. Nazarbayev, 69, has been in power since 1989 but has no clear successor. The uncertainty has worried investors who have poured more than $100 billion into the vast Caspian nation since its independence from the Soviet Union in 1991. "It's a signal from the president to political players: 'Folks, don't worry about the successor. The mechanism of preparing a successor has been launched'," said Dosym Satpayev, a political analyst. "This law offers a framework for him to leave and hand over power. There was no such framework before." The state Kazakhstan Pravda newspaper said the bill had officially come into law after being signed by the prime minister and the speakers of both houses of parliament. "The law is effective from the day of its official publication," stated the decree, published on Tuesday. Kazakhstan has never held an election judged free and fair by Western observers and the Kazakh leader has tolerated little dissent in the country of 16 million during his years in power. Nazarbayev's son-in-law Timur Kulibayev, as well as Kasym-Zhomart Tokayev, speaker of the upper house, and a host of other politicians have been tipped as potential successors but the subject is taboo and officials never comment on it. The Kazakh leader's current term expires in 2012 but he can run for an indefinite number of terms under a law introduced in 2007. He has not publicly said if he plans to run again. Earlier in June, Nazarbayev cited Kazakhstan's role as chair of the Organization for Security and Cooperation in Europe (OSCE) -- a security and democracy watchdog -- as one of his main reasons for rejecting the bill. However he never officially vetoed the draft, leaving a legal loophole for the bill to come into force. The new law gives Nazarbayev control over government policy after leaving the presidency as well as immunity from criminal prosecution for any actions taken while in office. It also protects all assets of the president and his family. (Writing by Maria Golovnina) World Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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