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Agreement on creation of the Interstate financial and industrial Internavigation group

of November 25, 1998

The State Parties of this agreement on behalf of the governments (further - the Parties),

proceeding from need of combination of financial and production efforts of the companies and organizations participating in implementation of the Interstate radio navigational program of the State Parties of the Commonwealth of Independent States

being guided by provisions of the Agreement on creation of Economic union of September 24, 1993, Agreements on assistance in creation and development of the production, commercial, credit and financial, insurance and mixed transnational associations of April 15, 1994, Conventions on multinational corporations of March 6, 1998,

confirming the Decision on the Interstate radio navigational program of the State Parties of the Commonwealth of Independent States of April 15, 1994,

proceeding from need of the state support of developers and producers of navigation aids, systems and the equipment, promotion of their products on the world markets and fillings of the domestic markets of the State Parties of the Commonwealth of Independent States by it,

agreed as follows:

Article 1

The parties promote creation of the Interstate financial and industrial Internavigation group (further - MFPG "Internavigation") based on specialized enterprises and the organizations of various patterns of ownership.

Main objective of creation of MFPG "Internavigation" is consolidation of financial resources, assistance to development of scientific and technical and production potentials of participants of group, to implementation of modern satellite technologies for development of navigation infrastructure of the Commonwealth of Independent States, including creation of onboard and land systems and means of the State Parties of the Commonwealth.

Article 2

MFPG "Internavigation" is subject of production economic activity with the rights of the legal entity and undergoes state registration in authorized bodies of the Russian Federation in accordance with the legislation of the Russian Federation.

For management of activities of MFPG "Internavigation" of the Party create Board of governors and appoint in it the plenipotentiaries.

Article 3

The companies and the participating organizations of MFPG "Internavigation" keep the status of independent subjects of production economic activity and are not limited in production of products, non-core for MFPG "Internavigation", performing activities based on the legislation of the states taking into account provisions of this agreement.

Article 4

Forming and creation of MFPG "Internavigation" is performed on the terms of voluntary consolidation and mutually advantageous financial and economic activities. Governing bodies, the rights and obligations of each participant are determined by the constituent documents of MFPG "Internavigation" developed according to the legislation of the state of place of registration.

The authorized capital of MFPG "Internavigation" is created at the expense of money contributions of the companies and the organizations which are its part, material and non-material values, blocks of shares of these companies.

The profit got from production economic activity within MFPG "Internavigation" on each of the performed projects is distributed in proportion to contributions of each participant.

Article 5

MFPG "Internavigation" is open for acceptance in its structure of the companies, organizations and other business entities of the Parties irrespective of patterns of ownership and departmental accessory according to the procedure and on the conditions provided by its constituent documents.

Article 6

The parties according to the national legal system can help MFPG "Internavigation" by provision of the corresponding guarantees for investment attraction, customs, tax and other privileges, and also create necessary conditions for realization of the tasks assigned to it provided by this agreement.

Article 7

According to the mutual arrangement of the Parties changes and additions can be made to this agreement.

Changes and amendments are drawn up by separate protocols which are integral part of the Agreement and become effective according to the procedure, stipulated in Article the 10th this agreement.

Article 8

The matters of argument connected with interpretation and application of provisions of this agreement are solved by consultations and negotiations of concerned parties.

Article 9

This agreement is signed sine die.

This agreement is open for accession to it of other states sharing its purposes and the principles by transfer to depositary of documents on such accession.

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