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RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of February 17, 2003 No. 6129

About questions of the State fund of development of the Golden Age of Turkmenistan

For the purpose of ensuring financing of the priority programs and projects of development of production and infrastructure base of the country determining the forward and balanced growth of national economy, promoting increase in material wealth of the Turkmen people in the 21st century - the Golden Age of Turkmenistan, I decide:

1. Form the State fund of development of the Golden Age of Turkmenistan.

2. Approve the developments of the Golden Age of Turkmenistan enclosed structure of Council of the State fund and Regulations on it.

3. Determine that:

money of the State fund of development of the Golden Age of Turkmenistan is stored on the accounts opened in the Central bank of Turkmenistan;

remaining balance of means on the Special reserve accounts of the Government of Turkmenistan opened according to the resolution of the President of Turkmenistan from 9 Bitaraplyk 2002 No. 6012, is subject to transfer in full to bank accounts of the State fund of development of the Golden Age of Turkmenistan.

4. Determine that:

the charges, payments and duties carried to sources of means of the State fund of development of the Golden Age of Turkmenistan are levied at the rates and in the sizes regulated by the current legislation of Turkmenistan and are subject to transfer on bank accounts of Fund no later than 7 working days from the moment of acquisition of right of the requirement of their payment;

the charges, payments and duties carried to sources of means of the State fund of development of the Golden Age of Turkmenistan and levied in foreign currency are distributed in equal proportion (50:50) between Fund and currency reserve of Turkmenistan.

5. To the state companies and the organizations, and also the bank performing collection of the charges, payments and duties carried to sources of means of the State fund of development of the Golden Age of Turkmenistan to provide their timely and complete transfer on bank accounts of Fund.

6. Assign to the Main State Tax Service of Turkmenistan control of collection of the charges, payments and duties carried to sources of means of the State fund of development of the Golden Age of Turkmenistan and their timely transfer on bank accounts of Fund.

7. Recognize invalid:

Item 8 of appendix No. 1 to the resolution of the President of Turkmenistan from 7 Gorkut of 2000 No. 4746 "About streamlining of activities of state bodies on customs border of Turkmenistan and establishment of single rates and payments from owners of vehicles of foreign states" (Collection of acts of the President of Turkmenistan and decisions of the Government of Turkmenistan, 2000, No. 7, the Art. 325);

the resolution of the President of Turkmenistan from 4 Alp Arslan 2000 No. 4793 "About the State fund of development of the Golden Age of Turkmenistan" (Collection of acts of the President of Turkmenistan and decisions of the Government of Turkmenistan, 2000, No. 8, the Art. 385);

the resolution of the President of Turkmenistan from 13 Makhtumkuli 2002 No. 5692 "About statement of structure of Council of the State fund of development of the Golden Age of Turkmenistan";

the resolution of the President of Turkmenistan from 9 Bitaraplyk 2002 No. 6012 "About opening of Special reserve accounts of the Government of Turkmenistan".

 

President of Turkmenistan

Saparmurat Turkmenbashi

Approved by the resolution of the President of Turkmenistan of February 17, 2003, No. 6129

Structure of Council of the State fund of development of the Golden Age of Turkmenistan

Saparmurat Turkmenbashi is the President of Turkmenistan (the chairman of the board Fonda)

Mukhammedova Sh. K. - acting as Chairman of the board of the Central bank of Turkmenistan (vice-chairman of Council Fonda)

Kakalyev Ya. - Minister of Economy and Finance of Turkmenistan

Meredov R. About - the Minister of Foreign Affairs of Turkmenistan

 

Approved by the resolution of the President of Turkmenistan of February 17, 2003, No. 6129

Regulations on the State fund of development of the Golden Age of Turkmenistan

1. The state fund of development of the Golden Age of Turkmenistan (the Fund hereinafter is referred to as further) is created for accumulation and expenditure of money on the purposes determined by the President of Turkmenistan and connected with implementation of investments into priority industries and sectors of economy of Turkmenistan.

2. Fund is created at the expense of the following sources:

charges for issue of entry visas to Turkmenistan and following transit across its territory;

payments for civil responsibility insurance of owners of vehicles before the third parties;

charges for customs clearance of goods in transit;

charges for work on disinfection of vehicles;

charges for cargo inspection, the following en route and being under quarantine;

charges for services in execution of the entry visa to Turkmenistan and following transit across its territory rendered by the State company "Turkmentransinspektion" of the Ministry of road transport of Turkmenistan;

service fee according to the omission of vehicles through the floating pontoon bridges and transportation on crossings rendered by Management of Turkmenderyaellara;

charges for difference in the cost of motor fuel from owners of vehicles of the foreign states driving to Turkmenistan and the following transit across its territory;

charges for the consular services rendered by the Ministry of Foreign Affairs of Turkmenistan;

duty on registration and issue of accounting inserts at check points through Frontier of Turkmenistan with the Republic of Uzbekistan;

duty on registration at check points through Frontier of Turkmenistan with the Islamic Republic of Iran;

the payments for the goods imported and realized in Turkmenistan due to the commodity deliveries performed by foreign states according to the procedure of settlement and repayment of public debt in front of Turkmenistan;

income from placement (investment) of temporarily available funds of Fund;

voluntary contributions of physical persons and legal entities.

3. Fund is allocated for the purposes determined by Item of 1 this provision including:

investments into construction new and reconstruction of the operating objects of transport infrastructure;

investments into construction new and reconstruction of the operating state road communications, including expenses on their content and repair;

investments into industries of agro-industrial complex, including expenses on acquisition of agricultural machinery and other non-current assets;

financing of investment projects of the subjects of private entrepreneurship selected on competitive basis;

compensation of the operating and other expenses of the companies and organizations performing collection of charges, duties and payments, specified in Item 2 this provision;

financial and material logistics of the current activities of Fund, including maintenance costs of its device;

other purposes determined by the President of Turkmenistan.

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