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ORDER OF THE PRESIDENT OF THE AZERBAIJAN REPUBLIC

of September 10, 2015 No. 1401

About creation of Tourist Center Shahdagh Private company in subordination of the Ministry of Culture and tourism of the Azerbaijan Republic

(as amended of the Order of the President of the Azerbaijan Republic of 26.02.2016 No. 1824)

The construction of the Winter and summer tourist Shahdagh complex located in the territory of the Hussar area, northeast slope of the Caucasus at the height of 2350 meters above sea level and covering the territory more than 2 thousand hectares, began in 2009. The experienced companies of number of foreign countries were involved in works on designing, construction, equipment and management.

In the territory of complex the construction 3, of 4 and 5-stars hotels, hotels, ropeways and skiing runs, sports constructions and other social objects is provided. Now in the Complex to the order of tourists 3 hotels meeting the international standards are transferred to 500 places, 7 ropeways over 6 thousand meters long, 11 ski slopes 13 thousand meters long. To the Complex high-voltage power lines of tension and fibro-fiber communication lines, gazo-and water supply systems, highways tens kilometers long are laid. After final completion of construction in the Complex of the objects provided by the project it will be possible to accept daily 10 thousand tourists, and the number of workplaces will be brought to 5 thousand.

Being guided by Item 32 of article 109 of the Constitution of the Azerbaijan Republic, for the purpose of ensuring management of the objects of the Winter and summer tourist Shahdagh complex constructed and put in operation I decide:

1. Create in subordination of the Ministry of Culture and tourism of the Azerbaijan Republic Tourist Center Shahdagh Private company (further - Society) which stocks the state owns.

2. Determine that Society accepts in operation tourist and other infrastructure facilities which construction is completed by administration of the self-supporting Winter and summer tourist Shahdagh complex under the Ministry of Culture and tourism for the expenditure account of capital investments of the government budget, and also step by step - objects in process of completion of their construction, transport and lines of communication, provides data management with objects, including, independently signing agreements with legal entities and physical persons, - their transfer to use (lease).

3. To charge implementation of powers of general shareholder meeting in Society to the following state bodies:

3.1. To the Cabinet of Ministers of the Azerbaijan Republic:

3.1.1. approval of the Charter and structure of Society, establishment of the size of the authorized capital;

3.2. To the Ministry of Culture and Tourism of the Azerbaijan Republic:

3.2.1. approval of annual reports, balance sheets, accounts of profit and loss of Society, distribution of its profit and loss;

3.2.2. and also decision making about the conclusion of the transaction with the corresponding person on the conclusion of the independent auditor which cost constitutes five and more percent of assets of Society of the transaction in the amount exceeding twenty five percent of net assets value of Society (the transaction of special value);

3.2.3. approval in coordination with the Ministry of Finance of the Azerbaijan Republic of limit of number of workers and expense budgets of Society;

3.2.4. position assignment and dismissal of the chairman and vice-chairmen of Society;

3.2.5. the solution of other questions carried by the Civil code of the Azerbaijan Republic to powers of the general shareholder meeting except for noted at this Order;

3.3. To the state committee of the Azerbaijan Republic concerning property:

3.3.1. consent on creation or abolition of managements, representations and branches of Society, creation, reorganization or abolition of subsidiaries.

4. Reorganization and abolition of Society are performed by the President of the Azerbaijan Republic.

5. To the Cabinet of Ministers of the Azerbaijan Republic:

5.1. in two-month time to approve the Charter and structure of Society;

5.2. in a month to provide transfer on balance of Society of objects which construction is completed by administration of the Winter and summer tourist Shahdagh complex;

5.3. establish and approve borders of the territory of Society;

5.4. provide the direction in the authorized capital of Society of the expenses spent for the objects which are on its balance constructed for expenditure accounts of capital investments of the government budget;

5.5. to prepare and provide to three-months time to the President of the Azerbaijan Republic the offers connected with reduction of acts of the President of the Azerbaijan Republic in compliance with this Order;

5.6. in three-months time to provide reduction of regulatory legal acts of the Cabinet of Ministers of the Azerbaijan Republic in compliance with this Order and to inform the President of the Azerbaijan Republic;

5.7. check reduction of regulatory legal acts of the central executive bodies in compliance with this Order and in five-months time to inform the President of the Azerbaijan Republic on execution;

5. resolve other issues, following from this Order.

6. To the Ministry of Culture and Tourism of the Azerbaijan Republic in coordination with the Ministry of Finance of the Azerbaijan Republic to provide to the Cabinet of Ministers of the Azerbaijan Republic the offers connected with forming and financing since current year of the budget of Society in a month.

7. To the ministry of taxes of the Azerbaijan Republic, the State committee of the Azerbaijan Republic concerning property and to the State committee of the Azerbaijan Republic on securities to take necessary measures for state registration of Society and its shares.

8. To provide to the Ministry of Justice of the Azerbaijan Republic reduction of regulatory legal acts of the central executive bodies and acts of normative nature in compliance with this Order and to inform the Cabinet of Ministers of the Azerbaijan Republic.

President of the Azerbaijan Republic

I. Aliyev

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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