ORDER OF THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA

of March 28, 2008 No. 480

About approval of the Regulations on procedure for determination and sale of idle assets

In pursuance of part (1) Art. 6 and parts (2) Art. 18 of the Law N121-XVI of May 4, 2007 on management of public property and its privatization (The official monitor of the Republic of Moldova, 2007, N 90-93, Art. 401) DECIDES: the Government

1. Approve Regulations on procedure for determination and the asset sale which is not used by the companies it (is applied).

2. Declare invalid the Order of the Government N 665 of November 29, 1996. "About approval of the Regulations on procedure for asset sale, the companies which are not used in engineering procedure" (The official monitor of the Republic of Moldova, 1997, N 3, the Art. 9), with subsequent changes.

Approved by the Order of the Government of the Republic of Moldova of March 28, 2008 No. 480

Regulations on procedure for determination and sale of idle assets

I. General provisions

1. This Provision establishes procedure for determination and the asset sale which are not used by the companies including within industrial parks.

2. Requirements of the Regulations on procedure for determination and sale of idle assets (further - the Provision), extend to the state and municipal companies, the budget bodies / organizations and public bodies / organizations on self-sufficiency, commercial societies with completely or mainly the public capital (joint-stock companies, limited liability companies) (further - the companies), except for the property leased or for rent.

2-1. In departure from Item 2 this provision in case idle assets of the companies within the industrial park are rented to residents of the industrial park, these assets can be sold by direct negotiations only to these residents.

3. According to this Provision can be sold: buildings, constructions, transfer devices, machines and the equipment, computer facilities, devices of all types, vehicles, the working and productive cattle, objects of construction in progress, other fixed assets (further - assets).

3-1. Realization of military equipment, arms and other military technical means is forbidden to the subjects specified in Item 2 this provision. Realization of military equipment, arms and other military technical means is performed only according to the procedure, established by Parliament.

4. Not used non-residential premises of the state and municipal companies and budget bodies / organizations and public bodies / organizations on self-sufficiency, and also their objects of construction in progress which construction was financed from the public budget do not fall under action of this provision.

Determination of the assets which are not subject to sale as a result of their differentiation on spheres at each separate company is competence of governing bodies of the relevant companies and bodies of the central and local public authority (further - bodies of public management).

II. Determination of idle assets

5. Criteria of determination of the companies of assets which are not used in activities are:

long non-use of assets in engineering procedure or on their direct appointment (more than 1 year for movable fixed assets and 3 years for immovable);

unprofitability of use of assets in connection with change of service conditions;

replacement of assets with others, more committed;

long absence of production volumes and orders for separate units of assets (more than 1 year for movable fixed assets and 3 years for immovable);

redundancy of assets and deficit of personnel for their use and servicing;

inexpediency of further use of assets because of the raised degree physical and/or obsolescence.

6. For determination of the assets which are not used by the company, the order of the managing (head) company creates the Commission on determination of idle assets (further - the Commission) from 5-7 people.

Commission sessions are competent if at least two thirds of number of her members participate in them. Its conclusions and offers are drawn up by the protocols signed by all the members of the commission participating in meeting. If members of the commission will have various opinions, in the minutes all opinions with the corresponding reasons are reflected.

7. The commission determines the assets which are not used by the company according to the criteria specified in this Provision and represents to governing bodies of the company the reasoned offers concerning procedure for their further use (sale, write-off, transfer to other companies or as contribution of the state or administrative and territorial unit to the authorized capital of commercial society, etc.)

Having considered offers and arguments of the Commission, council of the company makes the decision on feasibility of exposure of idle assets for sale.

Based on the decision of council of the company the managing director sends sales quotations of idle assets to body of public management for consideration and receipt of permission to sale.

8. Bodies of public management analyze financial and economic provision of the relevant company, determine sales opportunity of the assets which are not used by the company and by results of consideration within 30 days issue permissions to their sale or reject sales quotations. The variation of the offer shall be proved.

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