of April 18, 2003 No. 188
About measures of increase in efficiency of the carried-out restructuring and financial improvement of economically insolvent companies
For the purpose of increase in process performance of restructuring and bankruptcy economically insolvent, unprofitable and the Cabinet of Ministers low-profitable enterprises decides:
1. Determine that based on representation of the Agency on management of the state assets of the Republic of Uzbekistan economically insolvent, unprofitable and low-profitable enterprises which are subject to restructuring and also the companies to which procedures of insolvency are applied, transfer in accordance with the established procedure on current status being on their balance:
apartment houses, hostels, kindergartens and other objects of social infrastructure - on balance of khokimiyats of the cities and areas in the place of their arrangement;
objects of production infrastructure of general use (objects of electric grid economy, water supply, transport communications, etc.) - on balance of the companies of the corresponding economic associations for their functional accessory.
Determine that cost transferred, according to this resolution, from balance on balance of objects of social and production infrastructure public is not the taxation object when charging the value added tax for transferring and tax on the income (profit) for the host party.
2. To agency on management of the state assets, the Ministry of Economic Development and reducings poverty and to the Ministry of Finance of the Republic of Uzbekistan together with the khokimiyats of the cities and areas interested in economic associations to which fixed assets objects of social and production infrastructure of economically insolvent, unprofitable and low-profitable enterprises, and also the companies to which procedures of insolvency are applied are transferred to carry out careful inventory count of the transferred objects and to make in accordance with the established procedure offers on their further privatization, on sources and feasibility of their financing.
3. The decision on preservation of objects of construction in progress and fixed assets of economically insolvent, unprofitable and low-profitable enterprises which are subject to restructuring and also the companies to which procedures of insolvency are applied for restructuring or implementation of procedures of insolvency is accepted by the Cabinet of Ministers of the Republic of Uzbekistan.
Preservation of objects of construction in progress and fixed assets of the specified companies is performed according to the procedure approved by the resolution of the Cabinet of Ministers of September 16, 2003 No. 401.
Grant the right to Agency on management of the state assets taking into account the conclusions of territorial authorities of the Ministry of Finance and Ministry of Economic Development and reducing poverty of the Republic of Uzbekistan to make in the Cabinet of Ministers offers on preservation of objects of construction in progress and fixed assets of economically insolvent, unprofitable and low-profitable enterprises which are subject to restructuring and also the companies to which procedures of insolvency are applied.
Establish deadlines of consideration by the Cabinet of Ministers of offers of the Agency on management of the state assets of the Republic of Uzbekistan on preservation of objects of construction in progress and fixed assets no more than two weeks.
4. Determine that the property assessment (including assessment of property complex and business) economically insolvent, unprofitable and low-profitable enterprises which are subject to restructuring according to the decision of the Cabinet of Ministers of the Republic of Uzbekistan or board of the Agency on management of the state assets of the Republic of Uzbekistan, and also the companies to which according to the decision of economic court procedures of insolvency are applied performed by the estimative organization according to the international techniques considering real market, investment and salvage value of this property can be applied, in accordance with the established procedure, as starting on auction, the biddings and in case of realization of property based on public offer.
Approve Regulations on evaluation procedure and realization of property of the restructured companies, and also companies to which procedures of insolvency, according to appendix No. 1 are applied.
5. It is excluded by the resolution of the Cabinet of Ministers of the Republic of Uzbekistan No. 196 of 12.08.2005.
6. To the Ministry of Economics, the Ministry of Finance, Committee on cases on economic insolvency of the companies under the Ministry of Economics of the Republic of Uzbekistan during 2003 to handle issue of attraction of loan of Asian Development Bank on the purpose of enhancement of corporate management and implementation of restructuring of financially unstable companies.
7. Make changes and additions to some decisions of the Government of the Republic of Uzbekistan according to appendix No. 2.
8. To impose control over the implementation of this resolution on the deputy prime minister of the Republic of Uzbekistan Azimov R. S.
Chairman of the Cabinet of Ministers
I. Karimov
to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of April 18, 2003 No. 188
1. This Provision regulates evaluation procedure, determinations of the starting (initial) price of property of the low-profitable, unprofitable and economically insolvent companies performing restructuring and also the companies to which according to the decision of economic court procedures of insolvency are applied.
This Provision is not applied in case of transactions with the objects of property of the Republic of Uzbekistan which are outside the Republic of Uzbekistan.
2. According to this Provision, the property realized further according to restructuring plans and holding procedures of insolvency is subject to assessment.
3. The basis for evaluating is the agreement between the estimative organization and the consumer of its services (customer) signed according to the legislation.
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