RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of November 11, 2011 No. 11896

About enhancement of state registration of legal entities

For the purpose of streamlining of state registration of legal entities and conducting their accounting, and also strengthening of the state control of the course of implementation of investment projects, I decide:

1. Approve enclosed:

Regulations on the interdepartmental commission on state registration of legal entities;

Procedure for state registration of legal entities and conducting their accounting.

3. To impose control over the implementation of this resolution on the Vice-chairman of the Cabinet of Ministers of Turkmenistan Gochyev A., the Minister of Economic Affairs and development of Turkmenistan Hodzhamammedov B., the Minister of Finance of Turkmenistan Sadykov D. and the Chairman of the Highest control chamber of Turkmenistan Atdayev B.

Approved by the Resolution of the President of Turkmenistan of November 11, 2011 No. 11896

Regulations on the interdepartmental commission on state registration of legal entities

1. This Provision determines tasks, obligations and powers of the Interdepartmental commission on state registration of legal entities (further - the Interdepartmental commission), and also procedure for preparation, holding its meetings and execution of decisions.

2. Main objectives of the interdepartmental commission:

state registration, the state re-registration and refusal of state registration (further - registration) foreign legal entities, their branches, representations and the companies with foreign investments (further - subjects of registration);

taking measures in case of registration, the income directed against legalization gained in the criminal way and terrorism financings.

3. The interdepartmental commission for accomplishment of the tasks assigned to it performs the following functions:

in the terms established by the legislation on registration of subjects of registration considers the conclusion of Management of state registration of legal entities and investment projects of the Ministry of Economics and development of Turkmenistan and passes reasoned decision;

performs regulation of actions of pre-judicial consideration of the disputes connected with refusal in registration and the termination of activities of the subject of registration, presentation of the legal claim about the termination and liquidation over representation of Registration management or subjects of registration;

analyzes practice of application of the legislation influencing registration in connection with creation, suspension, the termination of activities and liquidation of subjects of registration;

considers offers on enhancement of the regulatory legal base of registration;

considers questions on appeals to the court of suspension, the termination of activities and liquidation of the legal entities performing the actions and transactions connected with legalization of income gained in the fraudulent, criminal way, and terrorism financing and also other actions contradicting the legislation of Turkmenistan. Performs other functions within the tasks and competences.

4. The structure of the Interdepartmental commission affirms the Cabinet of Ministers of Turkmenistan.

5. The Minister of Economic Affairs and developments of Turkmenistan is the Chairman of the Interdepartmental commission.

6. The chairman of registration management - the chief registrar is the secretary of the Interdepartmental commission.

7. The questions connected with re-registration of the subject of registration in connection with change of its owner, change of list of founders, change of type (types) of activities of the company, its form of business, creation of its affiliated enterprises, branches and representations, are submitted for consideration of the Interdepartmental commission.

8. Preparation of documents concerning the agenda for meetings of the Interdepartmental commission, their bringing to members of the Interdepartmental commission, and also execution of the minutes and other documents according to decisions of the Interdepartmental commission is performed by Registration management.

9. Documents on registration go to the relevant ministries and departments which are part of the Interdepartmental commission and the decisions on registration of subjects of registration are in accordance with the established procedure received.

10. The meeting of the Interdepartmental commission is held as necessary, but once a week suffices.

11. Meetings of the Interdepartmental commission are held in the office building of Registration management.

Also field meetings can be as necessary held.

12. The agenda approved by meeting of the Interdepartmental commission, and also the copy of the conclusions on registration of subjects of registration and the notification on date and the place of acquaintance with documents for registration goes the chief registrar to all members of the Interdepartmental commission in at least 2 (two) calendar days prior to the appointed date of meeting.

Documents and the conclusion for registration are represented by the chief registrar all to members of the Interdepartmental commission in the office building of Registration management to the period prior to meeting of the Interdepartmental commission.

13. The chairman of the Interdepartmental commission bears responsibility for preparation of holding meetings of the Interdepartmental commission, timely and proper creation of their agenda, and also for document creation and their delivery to members of the Interdepartmental commission.

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