RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of August 20, 1997 No. 3316

About creation of Registration chamber of Turkmenistan

For the purpose of transition to the international practice of single state registration and continuous accounting of changes of business and not business activity of the organizations and business entities of all patterns of ownership, and also enhancement of system of legalization and standardization of procedures of issue officially to the certified information I decide:

1. Create Registration chamber of Turkmenistan as the holder of the Unified state register of the companies and organizations of Turkmenistan as a part of Department of registration and control of course of execution of investment projects under the State agency on foreign investments in case of the President of Turkmenistan.

Authorize Registration chamber of Turkmenistan on carrying out state registration and official legalization of activities of the companies and organizations of all patterns of ownership in the territory of Turkmenistan.

Determine that the Registration chamber of Turkmenistan performs registration of pledge of the companies.

2. Approve the enclosed Regulations on Registration chamber of Turkmenistan.

3. To carry out state registration and official legalization of activities of the companies and organizations of all patterns of ownership in the territory of Turkmenistan in strict accordance with Regulations on Registration chamber of Turkmenistan.

4. To the state agency on foreign investments in case of the President of Turkmenistan according to Regulations on Registration chamber of Turkmenistan to create services of Registration chamber of Turkmenistan in case of hyakimlika of welayats and Ashgabat based on managements of municipal property and support of entrepreneurship, with preserving them, territorial arrangement, salary fund and salaries of established posts.

5. To registration chamber of Turkmenistan in a month in coordination with the State agency on foreign investments in case of the President of Turkmenistan, hyakimlikama of welayats and Ashgabat, the State committee of Turkmenistan according to the statistics, the Ministry of Economics and finance of Turkmenistan, the Central bank of Turkmenistan, the national and commercial banks of Turkmenistan, the Main state tax authorities of Turkmenistan, the Ministry of Foreign Economic Relations of Turkmenistan, the Ministry of Justice of Turkmenistan, the Supreme Economic Court of Turkmenistan to create the Interdepartmental commission for carrying out complex audit of the available documentation (constituent documents) and information, databank on the organizations and the companies of all patterns of ownership registered at the moment, to carry out reconciliation and the inventory of all archive information on storage form, to the location and responsible organizational administrative unit for legal information reliability and integrity of document package on the registered subjects to prepare the list of the companies and organizations which are subject to liquidation, with reasons for its reasons, and also the list of the companies and organizations which are subject to entering into the Unified state register of the companies and the organizations of Turkmenistan.

6. The interdepartmental commission transfer to Registration chamber of Turkmenistan the report on complex audit with execution of the corresponding delivery and acceptance certificate. To registration chamber of Turkmenistan together with the Interdepartmental commission to prepare the report on the available violations and to develop complex of actions for their elimination.

7. To the state agency on foreign investments in case of the President of Turkmenistan together with Majlis of Turkmenistan, the Ministry of Economics and finance of Turkmenistan, the State committee of Turkmenistan according to the statistics, the Main state tax authorities of Turkmenistan to carry out the complex analysis of the companies and organizations regarding forming of recommendations for carrying out institution reforms of forms of business of the companies and organizations and to provide them to the President of Turkmenistan.

8. Consider valid the certificates on state registration granted by the State committee of Turkmenistan according to the statistics only to the companies and the organizations registered until release of this resolution, except for the organizations and the companies which are subject to liquidation, or activities of which are subject to suspension. The list of the specified organizations and the companies is constituted and goes Registration chamber of Turkmenistan to the State customs of Turkmenistan, the Main state tax authorities of Turkmenistan, the State commodity and raw exchange of Turkmenistan, the Central bank and commercial banks of Turkmenistan, and also all state bodies on their requests.

9. Determine that it is single reliable information about the existing companies and the organizations the statement from the Unified state register of the companies and organizations of Turkmenistan issued by Registration chamber of Turkmenistan is considered.

10. To the Ministry of Justice of Turkmenistan, the State agency on foreign investments in case of the President of Turkmenistan together with the Interdepartmental commission to develop and provide to the Cabinet of Ministers of Turkmenistan offers on modification and the amendments in the current legislation of Turkmenistan following from this resolution in a month.

Approved by the resolution of the President of Turkmenistan of August 20, 1997 No. 3316

Regulations on Registration Chamber and Unified State Register of the Companies and Organizations of Turkmenistan

This Provision determines procedure for State registration of the subjects of business and not business activity created in the territory of Turkmenistan, and also procedure for maintaining the Unified State Register of the Companies and Organizations.

Basic provisions and determinations

State registration of the companies and organizations (further state registration) is the official final administrative act of creation of subjects of business and not business activity (further subjects) determining their legal and organizational status according to the legislation of Turkmenistan.

Subjects of business activity - physical persons and legal entities of Turkmenistan and other states, and also the stateless persons performing business activity for the purpose of profit earning.

Subjects of business activity - legal entities of Turkmenistan and other states which task is not business (commercial) activity for the purpose of profit earning.

State registration is performed by means of inclusion in the Unified State register of the Companies and Organizations based on what the Certificate on state registration is granted.

The unified State Register of the Companies and the Organizatsiyofitsialny documentary protocol of state registration of subjects in the territory of Turkmenistan, and also all changes in the constituent documents made in the course of their activities.

The unified State Register performs function of determination of legal accuracy of the information on subjects.

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