ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of November 29, 2012 No. 801

About approval of the Regulations on privatization of state-owned property sales method at auction

For the purpose of further enhancement of process of privatization and effective use of state-owned property in the Kyrgyz Republic the Government of the Kyrgyz Republic decides:

1. Approve Regulations on privatization of state-owned property by sales method at auction.

2. Recognize invalid:

- paragraph two of Item 1 of the order of the Government of the Kyrgyz Republic "About approval of the provisions regulating privatization of state-owned property sales methods at auction and leases with the subsequent redemption" of August 13, 2005 No. 370 and the Regulations on privatization of state-owned property sales method at auction approved by this resolution:

- paragraphs two - the twentieth Item 5 of the order of the Government of the Kyrgyz Republic "About modification and amendments in some decisions of the Government of the Kyrgyz Republic regulating questions of privatization of state-owned property" of October 8, 2008 No. 569;

- Item 8 of the order of the Government of the Kyrgyz Republic "About modification and amendments in some decisions of the Government of the Kyrgyz Republic" of March 9, 2010 No. 139;

- the order of the Government of the Kyrgyz Republic "About modification of the order of the Government of the Kyrgyz Republic of August 13, 2005 No. 370 "About approval of the provisions regulating privatization of state-owned property sales methods at auction and leases with the subsequent redemption" and recognition voided some orders of the Government of the Kyrgyz Republic" of August 27, 2010 No. 178;

- the order of the Government of the Kyrgyz Republic "About modification of the order of the Government of the Kyrgyz Republic "About approval of the provisions regulating privatization of state-owned property sales methods at auction and leases with the subsequent redemption" of August 13, 2005 No. 370" on January 11, 2012 No. 10.

3. This resolution becomes effective from the date of official publication.

Appendix

Approved by the Order of the Government of the Kyrgyz Republic of November 29, 2012 No. 801

Regulations on privatization of state-owned property sales method at auction

1. General provisions

1. This Provision determines conditions and procedure for privatization of state-owned property sales method at auction.

2. The main terms used in this Provision:

auction - sales method of state-owned property by tendering in case of which the purchase and sale agreement is signed with the person who offered and paid the highest price for subject to privatization. At the same time accomplishment of additional terms in relation to the privatized object is not required;

the auctioneer - the specialist holding the auction in the form of auction on auction ring;

the starting price - the price of subject to privatization established as initial at auction;

bid increment - the allowance by which the starting price and each following price announced by the auctioneer raises during trading. The bid increment can be increased during the auction.

3. As the seller of state-owned property the authorized state body in the sphere of management of state-owned property acts (further - the Seller).

4. The auction is held in regular format or on electronic trading platforms. The procedure for holding the auction in electronic format is determined by the Government of the Kyrgyz Republic.

5. As the organizer of auction the Seller, and in case of holding the auction in electronic format - the specialized organization which is acting on the basis of the contracts with the Seller and acting from his name acts.

6. Is included into power of the Seller:

- decision making about exposure to auction of state-owned property, privatizeable;

- decision making about drawing of the privatizeable block of shares (the state share) of economic society separate lots;

- ensuring evaluating project cost of privatization;

- decision making about creation of the commission on privatization, determination of its structure, appointment chairmen and secretaries of the commission;

- consideration of the conclusion about estimated value and the starting price of subject to privatization constituted by the commission on privatization;

- approval of the starting price of subject to the privatization determined on the basis of the conclusion about estimated value and the price of subject to privatization prepared by the commission;

- attraction on contractual basis of the specialized organizations rendering services in the organization of auctions;

- attraction on contractual basis of the auctioneers rendering services in tendering;

- determination of the list of the documents submitted by applicants for the admission to participation in auction;

- determination of conditions and terms of introduction by applicants for participation at auction of the guarantee fee;

- determination of date, the place, the beginning and the end of order taking from applicants for participation in auction;

- determination of date, time, place and format of holding the auction;

- providing the timely publication of the information message about holding the auction;

- adoption of requests and the documents attached to them from applicants for participation in auction, and also conducting their accounting, in process of receipt, in the magazine of order taking;

- check of correctness of execution of the documents submitted by applicants and determination of their compliance to requirements of the legislation of the Kyrgyz Republic and to the list published in the information message about holding the auction;

- determination of conditions and terms of survey by applicants for participation in auction of subject to privatization according to the established schedule of survey approved by the Seller;

- approval of the protocol on auction results;

- the conclusion with the buyer of the purchase and sale agreement of subject to privatization;

- implementation of settling with applicants, participants and winner of auction;

- providing the timely publication of the information message about auction results in mass media;

- ensuring cession of property to the buyer in accordance with the terms of the purchase and sale agreement;

- the notification of applicants on the decision made by the commission concerning their participation in auction;

- the paragraph the twenty fourth Item 6 ceased to be valid according to the Order of the Government of the Kyrgyz Republic of 29.08.2019 No. 440.

7. Physical persons or legal entities can be buyers of state-owned property.

The physical persons recognized in accordance with the established procedure, incapacitated and also public institutions and the companies cannot be buyers of the privatized state-owned property.

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