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ORDER OF THE GOVERNMENT OF THE REPUBLIC OF TAJIKISTAN

of March 1, 2004 No. 98

About procedure for sale of objects of state-owned property at auctions and tenders

(as amended on 05-12-2013)

For the purpose of ensuring transparency and the competition in implementation process of plans and privatization programs of state-owned property, the Government of the Republic of Tajikistan decides:

1. Approve Regulations on procedure for sale of objects of state-owned property at auctions and Regulations on procedure for sale of objects of state-owned property on tenders (are applied).

Item 2 is excluded according to the Order of the Government of the Republic of Tajikistan of 05.12.2013 No. 577

3. To the state committee on investments and management of state-owned property of the Republic of Tajikistan and Chairmen of the Gorno-Badakhshan Autonomous Region, areas, cities and areas to accept to management and execution this provision.

4. Consider invalid the order of the Government of the Republic of Tajikistan of December 16, 1997 No. 513 "About approval of the Regulations on procedure for sale of subjects to privatization at auctions and tenders".

Prime Minister of the Republic of Tajikistan

E.Rakhmonov

 

Approved by the Order of the Government of the Republic of Tajikistan of March 1, 2004 No. 98

Regulations on the Procedure for sale of objects of state-owned property at auctions

The provision is developed according to the Civil code of the Republic of Tajikistan, the Law of the Republic of Tajikistan "About privatization of state-owned property in the Republic of Tajikistan" and establishes procedure, rules and sales terms of objects of state-owned property (republican and municipal) at auctions.

I. The used terms

1. In the Provision as it is determined further, the below included terms and expressions will have the following values if only the context does not provide other:

- the English method of the biddings (English auction) - method of auction in case of which the announced price for lot raises in relation to the starting price of lot with in advance announced step to the moment when there is one participant who offered top price;

- auction - type of sale of objects of state-owned property from the public bidding in case of which the auction is held until object does not appear sold to the one who called the highest amount;

- the auctioneer - the physical person designated or hired by the seller or the organizer for conducting auctions for sale of objects;

- auction task - the decision of the seller on exposure of objects to auction;

- the auction map - the list, the lots specified in the information message offered for auction;

- the auction commission - the commission created by the seller, authorized to exercise control of the course of the organization and holding the auction;

- banking day - the official working day in the Republic of Tajikistan;

- the Dutch method of the biddings (the Dutch auction) - method of auction in case of which the announced price for lot goes down in relation to the starting price of lot with the announced step to the moment when one of participants the first lifts the auction number;

- the guarantee fee - form of ensuring gravity of intention of the participant to participate in auction and, in case of victory, to sign the protocol on results of auction and to sign the purchase and sale agreement;

- announcement board - exposed in the place, available to the public, to the address of the seller of board on which the seller shall place information relating to sale of objects at the biddings;

- the applicant - the resident and non-resident legal entity and physical person which showed willingness to participate in auction and brought the guarantee fee;

- the request - the document of the established form in which the participant declares obligations to observe all requirements of this Provision;

- private auction - type of English auction in case of which participants represent price offers for lot in sealed envelope;

- the information message - the official public offer of the seller about holding the auction published in electronic and printing mass media;

- lot - the object offered for auction. In case of sale of shares, lot is the integer of shares of the specific joint-stock company offered for auction;

- the starting price of lot - the price with which the auction for each lot begins;

- selling price - the final price of sale of lot reached in the course of holding the auction;

- minimum price of lot - the price below which the object offered for sale by the Dutch method of the biddings cannot be sold;

- resident (resident) - the physical person having the permanent residence in the Republic of Tajikistan including which is temporarily beyond its limits and also the legal entity created and registered according to the legislation of the Republic of Tajikistan;

- the nonresident (non-resident) - the physical person having the permanent residence outside the Republic of Tajikistan (including temporarily being in it), the legal entity created and acting according to the legislation of foreign state, with the location outside the Republic of Tajikistan, and also the foreign diplomatic, trade and other official mission which is in the Republic of Tajikistan, the international organization, their branches and representations;

- object - subject to privatization: shares of the joint-stock companies belonging to the state, the state companies, again formed legal entities based on the joint-stock companies of divisions allocated from structure and structural units; the production, non-productive divisions and structural units allocated from structure of the companies as property complexes; separate property of the state companies;

- the organizer - the seller, the unitary or state enterprise founded by the seller or other legal entity chosen as the seller including on competitive basis, authorized to organize and hold auction;

- estimated value - the project cost calculated according to the Procedure for cost determination of the privatized objects approved by the order of the Government of the Republic of Tajikistan of August 1, 2012, No. 387;

- the payment document - the document confirming payment (the payment order, the memorial order, the receipt);

- the winner - the participant who offered top price for lot on English auction or lifted the first the auction number (tag) at the Dutch auction;

- the buyer - the winner who signed the purchase and sale agreement of object with the seller;

- Provision - Regulations on procedure for sale of objects of state-owned property at auctions;

- the seller - the body authorized by the Government of the Republic of Tajikistan concerning objects of republican property and the relevant Majlises of People's Deputies of the Gorno-Badakhshan Autonomous Region (GBAR), areas, cities and regions of the property corresponding to them on implementation of realization of objects at auctions;

- plans, programs plans and privatization programs of republican and municipal property approved by the corresponding orders of the Government of the Republic of Tajikistan and Majlises of People's Deputies of the Gorno-Badakhshan Autonomous Region, areas, the city of Dushanbe, cities and areas;

- the bidding - sales process of object on the English or Dutch auction;

- the participant - the legal or physical resident or non-resident entity registered in accordance with the established procedure for participation in auction.

II. General terms

2. In case of sale of objects at auctions, the following general rules are applied:

- the starting price of the object of sale offered for auctions for the English method of the biddings is determined according to the current legislation and Procedure for cost determination of the privatized objects approved by the order of the Government of the Republic of Tajikistan of August 1, 2012, No. 387.

3. In case of sale of objects by the Dutch method of the biddings:

- the starting price is determined by multiplication of the price determined according to Item 2 on the raising coefficient. The coefficient is established by the seller, but cannot be lower than five;

- minimum price is established in the amount of the guarantee fee.

4. The auction is held if at least two participants participate in it.

5. Results of auction can be protested within 30 calendar days from the date of holding the auction according to the procedure, determined by the Civil code of the Republic of Tajikistan.

6. The auction held with abuse of regulations, established by this provision, can be nullified by court in the claim of the interested person. Recognition of the biddings by invalid attracts invalidity of the agreement signed with the winner.

7. Each interested person can receive gratuitously electronic option of this Provision in the state and Russian languages on the official websites of the State committee on investments and management of state-owned property of the Republic of Tajikistan and the State unitary enterprise for sale of state-owned property, and also its printing copy at the seller at the price, cost of listing in the place specified on announcement board.

8. In case of sale of the objects which are in the plans and programs, and also sale of shares of neogenic joint-stock companies at auctions the following rules of sale are used:

- shares of joint-stock companies in which authorized fund there is share of the state are offered for sale on auction for the English method of the bidding according to the legislation of the Republic of Tajikistan;

- shares of joint-stock companies in which authorized fund the share of the state constitutes less than 10 percent and unrealized at auction for the English method of the bidding can be offered for sale on auction for the Dutch method of the bidding.

III. Functions of the Seller

9. Functions on the organization and holding auctions:

- distribution of objects on separate auctions;

- establishment of date and venue of auction. At the same time the auctions for sale of objects of republican property specified in plans and programs are held only in the city of Dushanbe;

- drawing of shares of joint-stock company in case of observance of the following conditions:

on English auction of the share of separate joint-stock company are exposed to one or several by quantity of lots in case of the whole number of shares in each lot;

at the Dutch auction the block of shares of joint-stock company is exposed by one lot.

10. Other functions:

- determination of the starting price of lot;

- creation of auction task;

- assignment of number of auction;

- preparation of the information message;

- publication of the information message;

- the publication of other information and advertizing about objects and rules of holding auctions;

- creation of the auction card;

- forming of one or more auction commissions;

- the organization of visit of the exposed objects at the request of any person;

- updating of information on bulletin board according to requirements of this provision;

- removal of objects from auction in the cases provided by this provision;

- control of the organization and holding auctions by the organizer;

- the conclusion of purchase and sale agreements with winners of auctions and control of their execution;

- implementation of settlings with participants and buyers;

- implementation of settlings with the organizer;

- implementation of accounting of auctions.

11. The seller has the right to delegate to the organizer of function, specified in the fifth, sixth, seventh, eighth, ninth, twelfth, thirteenth and fourteenth paragraphs of Item 10.

12. The organizer has no right to peredelegirovat the functions delegated to it.

13. The seller has the right to delegate the functions specified in the fifth and sixth paragraphs of Item to 10 specialists in the field of marketing, advertizing and public relations.

14. The relations between the seller and the organizer on the organization and holding one or more auctions are regulated by the agreement, except cases when the organizer is the state company founded for this purpose by the seller. In this case the relations between the seller and the organizer are regulated by the charter.

15. The auction task shall contain:

- the list of the objects offered for auction;

- address of objects and main type of their activities;

- tendering method;

- deadlines of holding the auction and registration number of auction;

- the sizes of the exposed lots (percentage of the authorized capital), quantity of lots, the number of shares in each lot, the starting price of lot in case of the English and Dutch auction on each joint-stock company.

- venue of auction (city or area).

IV. Preparatory procedures to holding the auction

16. The list of necessary documents and procedures for holding the auction in case of sale of the state company:

- copies of constituent documents of the legal entity;

- the copy of the balance sheet of the state company as of January 1, 2003 certified by tax authority;

- appraisal report of object.

17. In case of sale of shares of joint-stock companies:

- copies of constituent documents of joint-stock company;

- copies of the prospectus of the issue of shares and the registration certificate of issue in the Ministry of Finance of the Republic of Tajikistan;

- copies of the balance sheet of joint-stock company on the last reporting date before the announcement of the sale certified by tax authority;

- appraisal reports of objects.

18. In case of sale of property of the state companies as independent subject to privatization documents are submitted according to the order of the Government of the Republic of Tajikistan of August 2, 2010, No. 391 "About approval of the Procedure for exposure to sale of state-owned property as independent subject to privatization.

19. Forming of the auction commission:

- forming of lots;

- creation of auction tasks;

- ustanavlivaniye of terms and venue of auctions;

- determination of the starting prices of lots;

- determination of procedure for introduction of the guarantee fee;

- placement of information messages about holding the auction in mass media, implementation of other advertizing activities;

- creation of auction cards;

- the visit of objects organized by the seller at the request of potential participants of auction;

- registration of participants.

V. Forming and competence of the auction commission

20. For control of the course of the organization and holding the auction selling objects of republican property the seller creates the commission as a part of 7 people:

- the commission includes representatives: the seller, the Ministry of Finance, the Ministry of Justice, the Tax Committee under the Government of the Republic of Tajikistan, Ministry of Economic Development and Trade of the Republic of Tajikistan;

- the commission is headed by the representative of the State committee on investments and management of state-owned property of the Republic of Tajikistan, it is not lower than the level of the vice-chairman of committee (commission chairman);

- the vice-chairman of the commission is elected from members of the commission on commission session;

- the secretary of the commission is the representative of the State committee on investments and management of state-owned property of the Republic of Tajikistan (one of members of the auction commission);

- the seller annually shall carry out rotation at least 30% of members of the commission.

21. For the purpose of the organization of sale of republican property in areas, the cities and areas of the republic, the authorized body on management of state-owned property of the Republic of Tajikistan can organize the commission on control of the course of the organization and holding auctions for sale of objects of republican property as a part of at least 5 people at the expense of the corresponding representatives of local executive bodies of the government, judicial authorities, economy, financial and tax authority. The commission chairman is determined at the level of the vice-chairman of area (the city or the area).

22. For control of the course of the organization and holding the auction selling objects of municipal property the seller creates one or several commissions. The commission includes representatives the corresponding representatives of local executive bodies state vlast, territorial authority on management of state-owned property, financial body, body of economy and judicial authority. The structure of the commission affirms decisions of chairmen of GBAO, areas, cities and areas.

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