of March 26, 2003 No. 168
About approval of the provisions regulating privatization of state-owned property
According to the Law of the Kyrgyz Republic "About privatization of state-owned property in the Kyrgyz Republic" and for the purpose of determination of conditions and procedure for privatization of state-owned property, the Government of the Kyrgyz Republic decides:
1. Approve enclosed:
- Regulations on privatization of state-owned property sales method at tender;
2. Features of privatization of financial credit institutes with the state participation can be established by other regulatory legal acts of the Kyrgyz Republic.
3. To impose control over the implementation of this resolution on management of economy, investments and state-owned property of the Office of the Prime Minister of the Kyrgyz Republic.
Approved by the Order of the Government of the Kyrgyz Republic of March 26, 2003 No. 168
1. This Provision is developed according to the Law of the Kyrgyz Republic "About privatization of state-owned property in the Kyrgyz Republic" and determines conditions and procedure for privatization of state-owned property sales method at tender.
2. Tender is sales method of state-owned property in case of which the buyer of the privatized object assumes the certain obligations established by tender conditions.
Depending on requirements imposed to the buyer of state-owned property tender can be commercial or investment.
3. As the seller of state-owned property the authorized state body on privatization and management of state-owned property acts (further - the Seller).
The Seller of state-owned property acts as the organizer of tender. The seller of state-owned property determines date, the place and procedure for carrying out tender, provides the timely publication of the information message about carrying out tender.
4. Physical persons or legal entities can be buyers of state-owned property.
The physical persons recognized in accordance with the established procedure incapacitated, public institutions and the companies cannot be buyers of the privatized state-owned property.
5. Subjects to privatization which sale is performed at tender are:
- the stocks (shares) in the capital of the economic partnerships and societies created in the course of transformation of the state companies owned by the state;
- state company as property complex;
- the production and non-productive divisions of the state companies constituting efficient complex, created as a result of carrying out reorganization (liquidation) the state company.
The stocks (shares) in the capital of the economic partnerships and societies created not in the course of privatization owned by the state on the property right can be also realized at the tender according to the procedure provided by this Provision.
6. Ceased to be valid the Order of the Government KR of August 13, 2005 No. 368
7. When using commercial and investment tenders the list of obligations in relation to subject to privatization which the buyer shall assume is established.
The list of obligations depends on subject to privatization and shall be determined by the Seller until the announcement of tender.
Conditions of commercial and investment tenders can include the following obligations of the Buyer concerning subject to privatization:
- the amount of the offered investments;
- the social program in the field of the salary, the employment level, uses of objects of the social sphere;
- exit to the new markets or development of existing;
- development of release of new competitive or import-substituting products;
- implementation of effective management, advanced training of personnel;
- obligations on environment protection;
- obligations on debt repayment;
- obligations on increase in the authorized capital.
Obligations shall have quantitative expression, and also terms of their realization.
8. The seller according to the legislation of the Kyrgyz Republic determines the cost of the privatized property and establishes on its basis starting price of sale at tender (further hereinafter is referred to as - starting price of sale).
9. Conditions of tender are determined by the Seller and shall be approved by the relevant decision of the Seller.
10. For participation in tender the applicant makes deposit (further - the guarantee fee) on account of ensuring payment of the property acquired at tender.
The size of the guarantee fee constitutes 10 percent from starting price of sale of the privatized object.
The guarantee fee is subject to return in the following cases:
- the participant of tender was not recognized as the winner of tender (the term of return of the guarantee fee - during 10 banking days from the moment of approval by the Seller of the protocol on tender results);
- tender is acknowledged cancelled (the term of return of the guarantee fee - during 10 banking days from the moment of approval by the Seller of the protocol on tender results);
- in case of response the applicant of the registered request (the term of return of the guarantee fee - during 10 banking days from the moment of obtaining by the commission on privatization of the notification on withdrawal of the request).
In case of the conclusion of the purchase and sale agreement with person who won competition, the amount of the guarantee fee brought by it is set off on account of obligations under the signed agreement.
11. For sale of subject to privatization on tender the Seller creates the contest committee on preparation and carrying out tender (further - the contest committee).
12. Representatives of the Seller, the interested ministries and departments are part of the contest committee. Its structure can include representatives of other state bodies, the company (joint-stock company), experts. The commission can make the offer to the Seller about attraction to work of auditing, consulting, estimative, expert and other organizations.
The representative of the Seller is appointed the chairman of the contest committee.
The number of members of the contest committee shall be at least 5 people.
13. Decisions of the contest committee are made by a simple majority vote the members of the commission who are present at meeting. During the vote each member of the commission has one voice. The commission is competent to resolve the issues carried to its competence if at meeting there are at least a half of her members. In case of equality of votes the commission makes the decision for which the chairman voted.
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