of August 2, 1996 No. 99
About revaluation of cost of property, plant and equipment (funds) in the Azerbaijan Republic
For the purpose of ensuring compliance of book value of property, plant and equipment (funds) to the existing market prices and the correct cost determination of state-owned property in the course of privatization the Cabinet of Ministers of the Azerbaijan Republic decides:
1. Charge to all organizations which are available in the Azerbaijan Republic, the companies and the organizations (further - "all companies") irrespective of patterns of ownership and type of activity to perform revaluation of cost of the property, plant and equipment (funds) which is registered as of July 1, 1996 by indexation based on approved by this resolution "Provisions" and to provide results of revaluation till September 10, 1996 to bodies of the State statistics.
2. Approve attached to the resolution "Provision" on procedure for revaluation of cost of property, plant and equipment (funds).
3. Charge to the State committee according to the statistics of the Azerbaijan Republic no later than November 10, 1996 to provide the generalized results of reporting these organizations, companies and organizations about revaluation of cost of property, plant and equipment (funds) to the Ministry of Economics and the Ministry of Finance of the Azerbaijan Republic.
Charge to the Ministry of Economics, to the Ministry of Finance, the State committee according to the statistics and to the State committee on property of the Azerbaijan Republic to analyze results of revaluation for the purpose of establishment of the correct cost of state-owned property in the course of privatization and to provide to the Cabinet of Ministers of the offer on methods of determination of annual replacement cost of property, plant and equipment (funds).
4. Determine that the cost difference received as a result of revaluation of cost of property, plant and equipment (funds) at all companies remains at their order.
5. Limit the minimum size of cost of unit and set of property, plant and equipment (funds) of 500 thousand manats.
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