PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of March 3, 2021 No. 78

About creation and activities of woodworking holding

For the purpose of creation of woodworking holding I decide:

1. Bring till April 1, 2021 in the form of non-cash contribution to authorized capital of JSC Ivatsevichdrev the Republic of Belarus which is in property of the share of open joint stock companies (appendix 1) on nominal (balance sheet) value.

2. Increase in authorized capital of JSC Ivatsevichdrev according to Item 1 of this Decree is performed:

by share issue of additional release, placed by means of transfer into the ownership of the Republic of Belarus without carrying out subscription;

without observance of the requirements provided in Item 3 of Article 47-1 of the Civil code of the Republic of Belarus and part four of article 28 of the Law of the Republic of Belarus of December 9, 1992 No. 2020-XII "About economic societies".

3. To the head of JSC Ivatsevichdrev according to the decision of body, authorized to sign the contract with it, the tariff salary (without charge on it of allowances, awards, bonuses and other stimulating payments) in the multiple size of the average monthly salary which developed by the corresponding type of economic activity by the accruing result since the beginning of year, not exceeding its size more than by 8 times can be established.

4. Make changes to presidential decrees of the Republic of Belarus (appendix 2).

5. To Council of Ministers of the Republic of Belarus till April 1, 2021 to take measures for implementation of this Decree.

6. To impose control over the implementation of this Decree on the State Control Committee.

7. This Decree becomes effective in the following procedure:

Items 3 and 4 - since April 1, 2021;

other provisions of this Decree - after its official publication.

Appendix 1

to the Presidential decree of the Republic of Belarus of March 3, 2021 No. 78

The list of open joint stock companies which shares are in property of the Republic of Belarus and are subject to introduction in the form of non-cash contribution to authorized capital of JSC Ivatsevichdrev

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* Book value for   October 1, 2020.

Appendix 2

to the Presidential decree of the Republic of Belarus of March 3, 2021 No. 78

The list of the changes made to presidential decrees of the Republic of Belarus

1. "About some measures for development of the woodworking industry" to state Items 15 and 16 of the Presidential decree of the Republic of Belarus of October 18, 2007 to No. 529 in the following edition:

"15. Determine that:

condition of rendering the state support provided by this Decree, except for provisions of the privileges determined in Item 6 of this Decree achievement by annually basic organizations is:

in 2007-2016 (Ivatsevichdrev open joint stock company in 2007-2026) the main target indicators (growth rate of the production volumes, profitability level) finished in accordance with the established procedure;

in 2017-2020 indicators on decrease in the cost level on production (works, services) and profitability of the sales (except for Ivatsevichdrev open joint stock company) finished by "Development Bank of the Republic of Belarus" open joint stock company;

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