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ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of January 10, 2014 No. 14

About approval of the Regulations on procedure for use of means of the state privatization fund

According to article 35 of the Law of the Kyrgyz Republic "About privatization of state-owned property", for the purpose of regulation of procedure for use of the means of the state privatization fund arriving from privatization of state-owned property, the Government of the Kyrgyz Republic decides:

1. Approve the enclosed Regulations on procedure for use of means of the state privatization fund.

2. To fund for management of state-owned property under the Government of the Kyrgyz Republic and to the Ministry of Economics of the Kyrgyz Republic to bring the decisions into accord with this resolution.

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

Prime Minister

Zh. Satybaldiyev

Approved by the Order of the Government of the Kyrgyz Republic of January 10, 2014 No. 14

Regulations on procedure for use of means of the state privatization fund

1. General provisions

1. The state privatization fund (further - GPF) is created at the expense of the means arriving from privatization of state-owned property in the amount of, determined by the decision of the Government of the Kyrgyz Republic, and used for the purpose of, determined by this Provision.

2. Purpose and tasks of the state privatization fund

2. The authorized state body in the sphere of management of state-owned property spends funds of GPF for the following expenditure items:

- on advertizing: the publication of announcements of the forthcoming tenders and auctions in mass media, Internet editions, release of information cards, brochures, bulletins of investment reference books, catalogs of investment projects and other printed materials;

- on the organization and tendering on privatizations of state-owned property, tendering on transfer of objects to trust management, delivery of state property to lease;

- on creation, implementation and content of the automated system of accounting of state-owned property, automation of processes of privatization and management of state-owned property;

- on fee of protection of the state objects in which there is risk of spoil and/or loss of state-owned property;

- on training, preparation and retraining of specialists of process of privatization, and also in the field of researches of economic processes, forecasting and management of state-owned property;

- on fee of the external managing directors who were involved by decisions of Provisional Government of the Kyrgyz Republic in management of the nationalized objects;

- on evaluating objects of state-owned property;

- on fee of the audit, consulting companies for carrying out the financial and economic analysis of the state companies and business entities with the state share;

- on forming of specialized fund under state body for cases on bankruptcy.

For the solution of the national, social and economic objectives of means of the state privatization fund can be used according to the decision of the Government of the Kyrgyz Republic:

- on providing financial support of state bodies for realization socially and economically significant projects on the terms of recoverability;

- on implementation of fees in the authorized capital of legal entities during their creation;

- in exceptional cases, on the actions having nation-wide value, and strengthening of material and technical resources of state bodies for the decision of the Government of the Kyrgyz Republic, on a grant basis.

In case of acceptance of the Kyrgyz Republic of the relevant decision by the Government about assignment on returnable basis, the authorized state body in the sphere of management of state-owned property signs with legal entities and physical persons the agreement on procedure and terms of return of allocated funds according to the civil legislation.

3. Control of use of means of the state privatization fund

3. Quarterly, no later than the 15th following for reporting the authorized state body in the sphere of management of state-owned property submits the report on use of means of the state privatization fund in the Ministry of Finance of the Kyrgyz Republic.

4. At the end of the accounting year the Ministry of Finance of the Kyrgyz Republic performs reconciliation of expenses on the state privatization fund and makes adjustment taking into account the actual accomplishment of amounts of privatization.

5. The manager of means of the state privatization fund bearing responsibility for correctness of their use is the authorized body in the sphere of management of state-owned property.

6. Means of the state privatization fund unused in the current year keep the purpose and in the years ahead.

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

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