of May 22, 2018 No. 51
About trust management of state-owned property
Accepted by Jogorku Kenesh of the Kyrgyz Republic on April 19, 2018
1. This Law determines the purposes, procedure and methods of transfer of state-owned property to trust management and regulates the legal relationship arising between the founder of trust management (the owner of property) and the trustee in the course of trust management of state-owned property.
2. Operation of this Law extends to the property belonging to the state:
1) share (share) in the capitals of economic partnerships and societies;
2) the state companies as property complex, except for property complex of the state companies functioning in system of Armed Forces of the Kyrgyz Republic.
3. Features of trust management in spheres of banking, insurance and investing activities can be established by the relevant laws.
4. Transfer of state-owned property to trust management does not attract transition of the property right to it to the trustee.
The state-owned property is delivered in trust management for the purpose of:
1) increases in efficiency of its use and profit earning;
2) attraction of external and internal investments into economy of the state;
3) implementation of economic projects.
In this Law the following concepts are used:
1) trust management - one of methods of management according to which the founder of trust management (the owner of property) signs the trust management agreement of state-owned property with the trustee;
2) the trustee - the legal entity (the commercial organization), except for the state company, exercising trust management of state-owned property and making concerning this property according to the trust management agreement any legal and actual acts for the benefit of the founder of trust management (the owner of property) or person (beneficiary) specified to them;
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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