ORDER OF THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA

of April 22, 2015 No. 193

About distribution of the annual net profit got in 2014 by joint-stock companies with equity of the state and the state companies

According to subitem provisions 1) article 12 of the Law on the Government No. 64-XII of May 31, 1990 (repeated publication: The official monitor of the Republic of Moldova, 2002, Art. No. 131-133, 1018), with subsequent changes and amendments, and also for the purpose of ensuring receipt of the income in the government budget Government DECIDES:

1. In departure from the Order of the Government No. 110 of February 23, 2011. "About some aspects of distribution of annual net profit of joint-stock companies with equity of the state and the state companies", to the ministries and other central administrative authorities:

1) to advance through the representative of the state at general shareholder meeting decision making about distribution to dividend payout of part of the net profit got in 2014 in the amount of at least 50 percent of general profit for all categories of joint-stock companies (subjects / not privatizeable);

2) to provide by means of administrative boards of the state companies decision making about contribution to the government budget of part of the net profit received in 2014 in the amount of at least 50 percent of general profit for all categories of the state companies (subjects / not privatizeable).

2. To joint-stock companies with equity of the state and to the state companies which before entry into force of this resolution made the decision on distribution of the net profit got in 2014 within a month after entry into force of this resolution to convene extraordinary general meeting shareholders/meeting of administrative board for decision making about distribution of the net profit received in 2014 according to provisions of this resolution.

3. To joint-stock companies with equity of the state and to the state companies to perform provisions of Item of 1 this provision in the terms provided by the Order of the Government No. 110 of February 23, 2011. "About some aspects of distribution of annual net profit of joint-stock companies with equity of the state and the state companies".

4. Not make decisions on payment of dividends/contributions to the government budget in joint-stock companies with equity of the state and the state companies falling under action of the subitem 5) of Item 1 of the Order of the Government No. 110 of February 23, 2011.

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