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LAW OF THE KYRGYZ REPUBLIC

of March 6, 1992 No. 850-XII

About concessions and the overseas concessionary enterprises in the Kyrgyz Republic

(as amended on 30-07-2013)

This Law regulates economic, organizational and legal conditions of provision for the benefit of development of economy of the Kyrgyz Republic of concessions, and also activities of the concessionary companies in the territory of the republic.

1. General provisions

Article 1. Concept of concession

Concession represents the government authorization of the Kyrgyz Republic to the investor on implementation of certain type of the business activity connected with representation to it in temporary use of property, the earth and its subsoil.

Article 2. Legislative regulation of concessionary activities

General terms of the concession treaty are regulated by this Law, and also the Civil code of the Kyrgyz Republic, the laws of the Kyrgyz Republic" About investments in the Kyrgyz Republic", "About the general beginnings of privatization, privatization and entrepreneurship" and other legal acts regulating investing and business activity in the territory of the Kyrgyz Republic.

If the international treaty establishes other rules, than those which, contain in the legislation of the Kyrgyz Republic are applied provisions of the international treaty.

Article 3. Basic principles of concessionary activities

The basic principles of concessionary activities are:

- contractual long-term nature of activities;

- competitive approach to the choice of concessionaries;

- observance of the regulations and industrial safety rules operating in the Kyrgyz Republic, environmental management and environmental protection;

- complex use of subject of the concession treaty.

Article 4. Subjects of the concession treaty

The earth, its subsoil, property, and also separate types of economic activity in certain territory can be subject of the concession treaty.

The property of joint-stock companies in which the state owns at least two thirds of shares, on condition of decision making according to the legislation of the Kyrgyz Republic can act as subject of the concession treaty.

The government of the Kyrgyz Republic establishes the list of objects which transfer to concession is not allowed or limited.

Article 5. Subjects of concessionary legal relationship

Subjects of concessionary legal relationship are:

- concessionary bodies - the Government of the Kyrgyz Republic, it the authorized or specially created bodies, and also local public administration and local councils of People's Deputies operating within the competence established by it;

- concessionaries - the states, legal entities and citizens, and also joint (by the legislation of the Kyrgyz Republic) the companies.

Article 6. Property in case of concession

The state yields to the concessionary of competence of ownership and use of subjects of the concession treaty, reserving exclusive right of the order them.

In case of transfer to concession of property of joint-stock company according to article 4 of this Law:

- the right of casting vote in joint-stock company and orders subjects of the concession treaty remains behind the Government of the Kyrgyz Republic;

- the concessionary has no right to sell, alienate real estate of joint-stock company, to lease, pledge, to bring as contribution (share) to the authorized capital of economic societies and partnerships or to dispose otherwise of this property without the consent of Jogorku Kenesh of the Kyrgyz Republic, the relevant decision of the Government of the Kyrgyz Republic and general meeting of joint-stock company, except for the assets and property provided in the concession treaty.

Products and income gained by the concessionary as a result of operation of subjects of the concession treaty is its property.

The Kyrgyz Republic has the privilege to receipt (acquisition) of share of products if conditions of such transfer (purchase) satisfy the concessionary and the reached agreement is enshrined in the agreement.

In property of the concessionary can there are material and other values which are also not part of subjects of the kontsessionerny agreement received by it on the bases provided by the current legislation in the Kyrgyz Republic or the agreement.

The inseparable improvements of subjects of the concession treaty made at the expense of the concessionary are property of the Kyrgyz Republic. The concessionary has the right to cost recovery of the improvements made with the consent of concessionary bodies.

Article 7. Transfer of subjects to concession to the third parties

Any transfer by the concessionary of subject of the kontsessionerny agreement to the third parties, both completely, and partially, can be made not differently, as with unconditional observance of the procedure established for initial representation of this concession.

Unilateral transfer of concession is invalid, does not grant any rights to the third parties and involves early termination of the concession treaty with the concessionary.

Article 7-1. Transfer to concession of property of joint-stock companies in which the state owns at least two thirds of shares

Decisions on provision in concession of property of joint-stock companies in which the state owns at least two thirds of shares and having strategic importance are accepted by the Government of the Kyrgyz Republic with the consent of Jogorku Kenesh of the Kyrgyz Republic.

The legal relationship connected with transfer to concession of property of joint-stock companies in which the state owns at least two thirds of shares it is regulated by the agreements signed between concessionary body, joint-stock company and the concessionary and which are becoming effective after approval of the Kyrgyz Republic by Jogorku Kenesh.

Prolongation, change, termination of such agreements are made according to the consent of Jogorku Kenesh of the Kyrgyz Republic.

The list of the objects having strategic importance affirms Jogorku Kenesh of the Kyrgyz Republic on representation of the Government of the Kyrgyz Republic in case of approval of the Program of privatization and privatization of state-owned property as the Kyrgyz Republic.

II. Concessionary legal relationship

Article 8. Procedure for preparation of concessionary offers

The list of the objects offered for concessions prepares authorized bodies according to their spheres of maintaining and affirms the Government of the Kyrgyz Republic.

Preparation of offers includes determination of exact borders of objects, structure of property complexes, inventory count and assessment of fields of field minerals, natural resources, business and non-productive assets.

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