RESOLUTION OF THE CABINET OF MINISTERS OF THE AZERBAIJAN REPUBLIC

of November 6, 2004 No. 177

About approval of Rules of write-off of the comers in unfitness and also kidnapped or lost under the obscure circumstances of property, plant and equipment (funds) consisting on balance of the state companies and organizations, and also companies with availability of the state share in the authorized capital, and realization of the material values received as a result of dismantle of these means

For the purpose of ensuring safety of state-owned property and its effective use in the Azerbaijan Republic, considering importance of regulation of process of write-off of the worn-out fixed assets consisting on balance of the companies the Cabinet of Ministers of the Azerbaijan Republic decides:

1. Approve "Rules of write-off of the comers in unfitness and also kidnapped or lost under the obscure circumstances of property, plant and equipment (funds) consisting on balance of the state companies and organizations, and also companies with availability of the state share in the authorized capital, and realization of the material values received as a result of dismantle of these means" it (is applied).

2. This Resolution becomes effective from the date of signing.

Approved by the Resolution of the Cabinet of Ministers of the Azerbaijan Republic of November 6, 2004 No. 177

Rules of write-off of the comers in unfitness and also kidnapped or lost under the obscure circumstances of property, plant and equipment (funds) consisting on balance of the state companies and organizations, and also companies with availability of the state share in the authorized capital, and realization of the material values received as a result of dismantle of these means

I. General provisions

1.1. These rules are prepared according to the Law of the Azerbaijan Republic "About financial accounting", the Grazhdanky code of the Azerbaijan Republic, the Tax code of the Azerbaijan Republic and other existing regulatory legal acts.

1.2. These rules determine rules of write-off and also means, the past repair (funds), the kidnapped persons consisting on balance lost under the obscure circumstances and the past repair state companies, organizations and the organizations, and also legal entities in whose authorized capital there is share belonging to the state (further - the organization or the organizations), and also realization of the material values received as a result of dismantle of these means (funds) irrespective of jurisdiction, for the purpose of ensuring safety of state-owned property and its effective use.

II. Write-off of the property, plant and equipment (funds) consisting on balance of the state companies and organizations, and also companies with availability of the state share in the authorized capital which came to unfitness

2.1. The buildings which completely obsolete are (worn out), come to physical and moral unfitness, constructions, the transfer installations, machines and the equipment, vehicles, means of production (goods), production stock and other fixed assets (funds) of the companies which are part of property, plant and equipment (funds) and also stolen or the property, plant and equipment (funds) lost under the obscure circumstances which from the economic point of view are acknowledged inexpedient which repair and recovery are considered irrational which voluntary conveyance and realization are impossible are liquidated and written off from balance on the basis of these rules.

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