ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of September 12, 2002 No. 624

About approval of the Regulations on procedure and conditions of transfer of state-owned property to management with the subsequent redemption

According to the Law of the Kyrgyz Republic "About privatization of state-owned property in the Kyrgyz Republic", for the purpose of creation of conditions on effective management of state-owned property, and uses of method of management of state-owned property with the subsequent redemption in case of privatization of the stocks (share in the authorized capital) of economic partnerships and the societies Government of the Kyrgyz Republic owned by the state decides ensuring representation of interests of the state under management of the state block of shares:

1. Approve the enclosed Regulations on procedure and conditions of transfer of state-owned property to management with the subsequent redemption.

2. Ceased to be valid according to the Order of the Government of the Kyrgyz Republic of 15.02.2012 No. 94

3. Declare invalid the Order of the Government of the Kyrgyz Republic of July 12, 1995 of N276 "About Approval of Regulations on Procedure and Conditions of Transfer of the Right of Management of the State Block of Shares in Joint-stock and Other Contractual Companies and about Transfer of the State Companies to Managerial Management".

4. To impose control over the implementation of this Resolution on Management of economy, investments and regional development of the Office of the Prime Minister of the Kyrgyz Republic.

N624 is approved by the Order of the Government of the Kyrgyz Republic of September 12, 2002

Regulations on procedure and conditions of transfer of state-owned property to management with the subsequent redemption

I. General provisions

1. This Provision is developed according to the Civil code of the Kyrgyz Republic, the Law of the Kyrgyz Republic "About privatization of state-owned property in the Kyrgyz Republic" and determines procedure and conditions of transfer of state-owned property to management with the subsequent redemption.

2. The basic concepts used in this Provision:

- the state-owned property transferred to the control with the subsequent redemption - the stocks (share in the authorized capital) of economic partnerships and societies owned by the state;

- transfer of state-owned property to management with the subsequent redemption - one of methods of privatization of state-owned property, represents system of the relations in case of which the founder of management gives to the managing director to certain term state-owned property with the subsequent redemption, at the same time the last exercises control according to the obligations determined in the contract for management of subject to privatization;

- the founder of management - the state, on behalf of authorized state body on privatization and management of state-owned property;

- managing - physical (individual entrepreneur) or legal (the commercial organization) the person designated and selected by the founder of management on competitive basis.

The physical person recognized in accordance with the established procedure incapacitated, public institution and the company cannot be the managing director.

3. The decision on transfer of state-owned property to management with the subsequent redemption is made by the founder of management.

4. Selection of the managing director of state-owned property is made on competitive basis. The founder of management acts as the organizer of tender. The founder of management determines date, the place and procedure for carrying out tender, provides the timely publication of the information message about carrying out tender.

Conditions of tender are determined by the founder of management and shall be approved by the relevant decision of the founder of management.

The managing director shall have the license for the right of implementation of the activities for trust management of securities issued by authorized state body on the security market.

5. The legal relationship connected with management of state-owned property with the subsequent redemption arise based on the contract of management of state-owned property with the subsequent redemption (daleedogovor of management) signed between the managing director and the founder of management. The agreement determines the obligations assumed by the managing director and conditions of the redemption of state-owned property.

6. The managing director represents the business plan of economic development of the company and the amount of the guarantee fee as financial guarantee of providing offers or measures for improvement of economic condition of the company.

7. Ceased to be valid the Order of the Government KR of August 13, 2005 No. 368

8. The cost of the state-owned property transferred to the control with the subsequent redemption is determined and affirms according to the procedure, established by the legislation of the Kyrgyz Republic.

9. Terms of transfer of state-owned property to management with the subsequent redemption make a reservation in the agreement of management.

In cases when the business plan of the managing director requires more long time of execution, the term of transfer of state-owned property to management with the subsequent redemption which is earlier stipulated in the agreement of management can be prolonged by the prolongation operating or the conclusion of the new agreement of management.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info