RESOLUTION OF THE CABINET OF MINISTERS OF THE KYRGYZ REPUBLIC

of September 4, 2023 No. 445

About questions of corporate management in economic societies with the state block of shares (share) in the authorized capital

For the purpose of development of corporate management in economic societies with the state share in the authorized capital, according to articles 13, of the 17th constitutional Law of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic" the Cabinet of Ministers of the Kyrgyz Republic decides:

1. Approve Regulations on procedure for selection and promotion of members of governing bodies of economic societies with the state block of shares (share) according to appendix.

2. Recognize invalid:

- the order of the Government of the Kyrgyz Republic "About questions of selection and promotion by state bodies of candidates for positions of members of governing bodies of economic societies with the state share" of May 27, 2020 No. 274;

- Item 7 of the resolution of the Cabinet of Ministers of the Kyrgyz Republic "About creation of Kyrgyzindustriya open joint stock company and modification of some decisions of the Government of the Kyrgyz Republic and the Cabinet of Ministers of the Kyrgyz Republic" of December 24, 2021 No. 341;

- Item 3 of the resolution of the Cabinet of Ministers of the Kyrgyz Republic "About measures for increase in efficiency of activities of economic society with the state share in the authorized capital" of March 4, 2022 No. 109;

- the resolution of the Cabinet of Ministers of the Kyrgyz Republic "About modification of the order of the Government of the Kyrgyz Republic "About questions of selection and promotion by state bodies of candidates for positions of members of governing bodies of economic societies with the state share" of May 27, 2020 No. 274" of September 7, 2022 No. 486.

3. This resolution becomes effective after fifteen days from the date of official publication.

Appendix

to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of September 4, 2023 No. 445

Regulations on procedure for selection and promotion of members of governing bodies of economic societies with the state block of shares (share)

1. General provisions

1. This Provision determines procedure for selection and promotion by the state bodies performing powers of the shareholder (participant), candidates for election in governing bodies of economic societies with the state share.

2. Action of this provision does not extend to economic societies which state blocks of shares (shares) are delivered in trust management for validity of trust management, and also "National Bank of Development of the Kyrgyz Republic" open joint stock company.

3. For the purposes of this provision terms and determinations in the following values are used:

- the state representative - the person pushed, elected or appointed from reserve of personnel in governing bodies of economic society according to the offer of the state body performing powers of the shareholder (participant) in economic society with the state share;

- state body - the state body performing powers of the shareholder (participant) in economic society with the state share: The Cabinet of Ministers of the Kyrgyz Republic, authorized body in the sphere of management of state-owned property, the Ministry of Economy and Trade of the Kyrgyz Republic, the Ministry of Finance of the Kyrgyz Republic, the Ministry of Defence of the Kyrgyz Republic, the Department of Energy of the Kyrgyz Republic, the Ministry of digital development of the Kyrgyz Republic, the Ministry of water resources, agricultural industry and processing industry of the Kyrgyz Republic, Administration of the President of the Kyrgyz Republic, Social fund of the Kyrgyz Republic under the Cabinet of Ministers of the Kyrgyz Republic;

- authorized body in the sphere of management of state-owned property - the State agency on management of state-owned property under the Cabinet of Ministers of the Kyrgyz Republic coordinating state bodies concerning implementation of powers of the shareholder (participant) in economic societies with the state share;

- the independent board member - person corresponding to criteria, the stipulated in Clause 2 Laws of the Kyrgyz Republic "About joint-stock companies";

- economic society - joint-stock company or limited liability company in which the state holds shares or share in the authorized capital;

- reserve of personnel - the reserve of candidates for position of the state representative in governing bodies of economic societies created by authorized body.

4. The state representative in governing bodies of economic society and the independent board member perform all functions, the rights and obligations of the corresponding member of governing body according to the legislation of the Kyrgyz Republic on economic societies, the charter and internal documents of societies

5. The state body signs with the state representative in governing bodies of economic society the agreement according to the standard form approved by authorized body in the sphere of management of state-owned property.

2. Selection and promotion of candidates for governing bodies of economic societies with the state share

6. Requirements to professional qualification and work experience of members of governing bodies shall be established by internal documents of economic society.

7. The state representative in the board of directors of economic society, the independent board member, and also person performing functions of sole executive body or the head of collegiate executive body of the economic society with the control state block of shares performing activities without education of the board of directors shall conform to the following minimum requirements:

1) lack of the criminal record including extinguished;

2) age is not younger than 27 years and 65 years are not more senior;

3) availability of the higher education in the sphere of economy, management, law or in the specialty, the activities of economic society corresponding to profile;

4) work experience:

- at least 5 years as the head, the deputy manager in governing bodies (including the head, the deputy manager of structural division) the commercial organization irrespective of pattern of ownership; or

- at least 5 years on the public civil service on positions categories "S-A" in state bodies of the financial and economic block, or in the state bodies corresponding to profile of activities of economic societies are not lower.

8. The state representative in audit committee (auditor) of economic society shall conform to the following minimum requirements:

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