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Ministry of Justice

Republic of Tajikistan 

On August 6, 2020 No. 477

ORDER OF THE GOVERNMENT OF THE REPUBLIC OF TAJIKISTAN

of July 30, 2020 No. 432

About standard provision of the supervisory board of the state company

According to article 11 of the Law of the Republic of Tajikistan "About the state companies" the Government of the Republic of Tajikistan decides:

1. Approve standard provision of the supervisory board of the state company it (is applied).

2. To the state committee on investments and management of state-owned property of the Republic of Tajikistan, the central executive bodies of the government and local executive bodies of the government to be guided in the activities, this standard provision.

Prime Minister of the Republic of Tajikistan

Emomalii Rahmon

Approved by the Order of the Government of the Republic of Tajikistan of July 30, 2020 No. 432

Standard provision of the supervisory board of the state company

1. General provisions

1. The standard provision of the supervisory board of the state company (further - provision) is developed according to article 11 of the Law of the Republic of Tajikistan "About the state companies".

2. The provision determines the status, procedure for convocation, the organization and holding meetings of the supervisory board of the state company (further - the company), the rights and obligations of members of the supervisory board of the company, interaction with other governing bodies of the company, and also procedure for early termination of powers of members of the supervisory board of the company.

3. The supervisory board of the company (further - the supervisory board) is governing body of the company, performs the common directorship of activities of the company and controls execution of decisions of the founder of its authorized body according to requirements of the legislation of the Republic of Tajikistan.

4. The supervisory board is created for the purpose of protection of interests of the state, implementation management and ensuring fruitful activities of the company.

5. The supervisory board in the activities is guided by the legislation of the Republic of Tajikistan and this provision.

2. Competence of the supervisory board

6. The supervisory board is governing body, performs the common directorship of activities of the company, except for solutions of the questions carried according to the Law of the Republic of Tajikistan "About the state companies" to competence of the founder of the company and its authorized body.

7. The following questions enter competence of the supervisory board:

- determination of priority activities of the company;

- approval of the annual budget, operating rooms, non-operating expenses and the plan of financial and economic activities of the company in coordination with authorized state body in the sphere of finance;

- approval of the large deals constituting 30 and more percent of book value of the assets of the company determined based on accounting data for the last date of the reporting, except for transactions concerning the property requiring the consent of the founder;

- approval of the annual statement with accounting reports of the company and annual accounting records of the company;

- statement of the auditor of the company and determination of the amount of payment of its services;

- consideration and assessment of the report of the director each half a year;

- in coordination with the founder approval profit distribution, remained at the disposal of the company after implementation of non-tax payments in the budget;

- determination of the sizes of official pay rates, payment terms of the salary and awarding of staff of executive body of the company;

- determination of information relating to the company or its activities constituting the office, commercial or other protected legislatively secret, and also determination of procedure for its disclosure by the company to the third parties;

- creation of branches and opening of representative offices of the company;

- approval of the internal documents of the company determining procedure for creation and use of funds of the company;

- determination of credit policy of the company regarding receipt of the credits, the conclusions of credit agreements, bond issue, guarantees, all warranty types and letters of credit;

- determination of conditions of the employment contract with members of executive body of the company;

- decision making about participation of the company in activities of other commercial and non-profit organizations, change of share and the termination of participation of the company in activities of other organizations;

- approval of procedure for cooperation of the company with the organizations in which activities of the company takes part;

- preliminary approval of collective agreements and the agreements signed to the companies within regulation of the social and labor relations;

- determination of policy of purchases in the company and decision making according to the documents approved in the company regulating activities of the company for purchases;

- submission of the offer on appointment and termination of powers of members of executive body of the company;

- decision making about nomination of staff of executive body of the company on receipt of the state awards;

- decision making about use of reserve fund and other funds of the company;

- appointment of the secretary and early termination of its powers;

- approval of the regulations on the secretary determining activities of the secretary;

- other questions which solution according to the Law of the Republic of Tajikistan "About the state companies" enter competence of the supervisory board.

8. The questions entering competence of the supervisory board cannot be transferred for the decision to executive body of the company.

3. Creation of the supervisory board

9. The list of the companies in which the supervisory board, and also the list of the companies in which the supervisory board is created by the Government of the Republic of Tajikistan is created, approves the Government of the Republic of Tajikistan.

10. Authorized state body in the sphere of management of state-owned property of the Republic of Tajikistan concerning republican property and local executive bodies of the government concerning municipal property based on the relevant decisions establish the supervisory board in the companies and approve its provision.

11. The number of members of the supervisory board affirms as structure at least 5 (five) people.

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