of June 5, 2021
About public-private partnership
This Law determines the legal basis of public-private partnership, methods of its implementation and governs the relations arising in the course of preparation and project implementation of public-private partnership.
1. The purposes of this Law are regulation of the relations in the public-private partnership sphere, and also creation of legal conditions for concentration of material, financial, intellectual, scientific and technical and other resources, ensuring balance of interests and risks, attraction of financial resources of non-budgetary sources for projects implementation, plans and programs for development of infrastructure facilities.
2. Operation of this Law does not extend to the relations regulated by the Law of Turkmenistan "About tenders for delivery of goods, performance of works, rendering services for the state needs" the oil works which are carried out according to the Law of Turkmenistan "About hydrocarbonic resources" and the specialized activities connected with providing law and order, defense capability and safety of the state.
The legislation of Turkmenistan on public-private partnership is based on the Constitution of Turkmenistan and consists of the Civil code of Turkmenistan, this Law and other regulatory legal acts of Turkmenistan.
In this Law the following basic concepts are applied:
1) public-private partnership - the mutually beneficial cooperation of the state and private partners which is legally drawn up for certain term based on combining of their resources for preparation and project implementation of public-private partnership;
2) the project of public-private partnership - set of the actions realized on the basis of attraction of private investments and (or) the implementations of the best practices of management directed to the solution of economic, social and infrastructure tasks;
3) the concept of the project of public-private partnership - the document prepared by the state initiator and (or) the private initiator, proving the choice of the decision on realization determining the cost and the project description of public-private partnership, containing reasons for efficiency and relevance, the main characteristics and features of its realization, and also mechanisms of providing economic benefit from the involved investments;
4) the agreement on public-private partnership - the civil contract between the state and private partners signed according to the procedure and on conditions which are established by this Law;
5) object of public-private partnership - property, property complexes and social and economic infrastructure, designing, construction which creation, delivery, financing, reconstruction, upgrade, operation and servicing are performed within project implementation of public-private partnership, and also work (service) and innovation, subject to implementation in the project progress of public-private partnership;
6) payment for availability of object of public-private partnership - the payments of the state partner to the private partner made according to the agreement on public-private partnership during use (operation) and (or) servicing of object of public-private partnership for ensuring its availability;
7) state partner - Turkmenistan on behalf of which executive bodies, and also other bodies (organizations) authorized on that by the Cabinet of Ministers of Turkmenistan act;
8) the private partner - the legal entity (except the legal entity in whose authorized fund the share exceeding 50 percent belongs to the state), the foreign organization, the physical person who is engaged in business activity without formation of legal entity - the individual entrepreneur, signed the agreement on public-private partnership;
9) payment for use - the payments levied by the private partner from consumers of goods (works, services) according to the agreement on public-private partnership within project implementation of public-private partnership;
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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