PRESIDENTIAL DECREE OF THE AZERBAIJAN REPUBLIC

of June 11, 2001 No. 497

About approval of Rules of write-off and regulation of debts of the privatized state companies, the business entities liquidated as a result of the agrarian reforms and which are in the occupied areas, to the government budget, off-budget state funds, the state companies for consumption of products, works and services, the prices (rates) for which are regulated by the state, and unsettled debts of data of the companies to banks which controlling stock is owned by the state,

For the purpose of ensuring execution of Item 2.5 of the Law of the Azerbaijan Republic "About debts of the privatized state companies, the business entities liquidated as a result of the agrarian reforms and which are in the occupied areas" I decide:

1. Approve "Rules of repayment and regulation of debts of the privatized state companies, the business entities liquidated as a result of the agrarian reforms and which are in the occupied areas, to the government budget, off-budget state funds, the state companies for consumption of products, works and services, the prices (rates) for which are regulated by the state, and unsettled debts of data of the companies to banks which controlling stock is owned by the state" it (is applied).

2. To the Cabinet of Ministers of the Azerbaijan Republic to determine conditions of release of the government securities specified in Item 4.5 of these rules in a month.

3. Determine that in cases when the amount of credit debt is paid from the government budget due to the lack at the state companies which obtained secured loan of the Cabinet of Ministers of the Azerbaijan Republic, opportunity for timely loan repayment in case of privatization of data of the state companies debts in the government budget are written off according to the Rules approved in Item 1 of this Decree.

4. To the state committee on questions of property of the Azerbaijan Republic to take adequate measures for ensuring execution of this Decree.

5. This Decree becomes effective from the date of publication.

Appendix

to the Presidential decree of the Azerbaijan Republic of June 11, 2001 No. 497

Rules of write-off and regulation of debts of the privatized state companies, the business entities liquidated as a result of the agrarian reforms and which are in the occupied areas, to the government budget, off-budget state funds, the state companies for consumption of products, works and services, the prices (rates) for which are regulated by the state, and unsettled debts of data of the companies to banks which controlling stock is owned by the state,

1. General provisions

1.1. These rules are prepared based on the Law of the Azerbaijan Republic "About debts of the privatized state companies, the business entities liquidated as a result of the agrarian reforms and which are in the occupied areas".

2. Scope of rules

2.1. These rules establish procedure for write-off and regulation of debts of the companies privatized and on which privatization the decision within "The state program of privatization of state-owned property in the Azerbaijan Republic in 1995-1998", the Azerbaijan Republic approved by the Law of September 29, 1995 and which privatization did not come to the end, the state companies privatized is made and on which privatization the decision according to "the II State program of privatization of state-owned property in the Azerbaijan Republic" is made, to the government budget (except for credit debts, issued under guarantee of the Cabinet of Ministers of the Azerbaijan Republic), to off-budget state funds, banks which controlling stock the state owns (further - banks), and the state companies for consumption of products, works and services, the prices (rates) for which are regulated by the state, debts of the kolkhozes and sovkhozes liquidated according to the legislation of the Azerbaijan Republic, business entities of the areas which are under occupation, to banks business entities in the following procedure also extend to data:

2.1.1. on the companies on which privatization the decision within "The state program of privatization of state-owned property in the Azerbaijan Republic in 1995-1998", the Azerbaijan Republic approved by the Law of September 29, 1995 and which privatization did not come to the end, - for date of their opening for privatization, to the privatized companies - for date of completion of their privatization (till November 1, 2003) is made;

2.1.2. on the companies which privatization came to the end till November 1, 2003, - for date of completion of their privatization, on other companies according to "the II State program of privatization of state-owned property in the Azerbaijan Republic", - for November 1, 2003;

2.1.3. on the kolkhozes and sovkhozes liquidated according to the legislation of the Azerbaijan Republic - for date of their liquidation;

2.1.4. on business entities of the areas which are under occupation - for date of occupation.

2.2. The state committee on questions of property of the Azerbaijan Republic represents to the Ministry of taxes of the Azerbaijan Republic, the Ministry of Labour and Social Protection of the population of the Azerbaijan Republic, banks and the state companies which are producers of products, works and services, the prices (rates) for which are regulated by the state, within one month the list of the companies specified in Item 2.1.1 of these rules with indication of date of opening of these companies for privatization or completion of privatization (till November 1, 2003), and the list of the companies specified in Item 2.1. 2, - within 10 days after completion of their privatization (with indication of date of completion of privatization) and decision makings about their privatizations and forming according to the legislation of the starting (selling) price or the authorized capital for the purpose of privatization of data of the companies.

2.3. According to these rules to products, works and services, the prices (rates) for which are regulated by the state, belong: oil and oil products, electric power, heat energy, gas, water, services of the sewerage, communication services, cargo transportation railway, air, road and sea transport.

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