DECISION OF ECONOMIC COURT OF COMMONWEALTH OF INDEPENDENT STATES

of December 13, 1995 No. 08/95

Economic Court of the Commonwealth of Independent States in structure:

the chairman - the Chairman of Economic Court Dashuk L. A.,

judges of Economic Court of Abdrakhmanov S. S., Apostle D.D., Begaliyev M. A., Bekenova R. A., Kerimbayeva A. Sh., Makhmudova L. Sh., Miroshnik V. I., Simonyana G. V., Tolibova X., in case of Madudina T. I. secretary.,

with participation:

representative of Interstate bank Boorman M. A., General adviser of Economic Court Lazarenkov E. V., having considered case on request of Interstate bank on interpretation in proceeding in open court,

established:

Need of entering into the Charter of Bank of changes and amendments for the purpose of enhancement of the status of Interstate bank formed the basis for request of Interstate bank about interpretation. Meanwhile the legal mechanism of modification and amendments in the Charter of Interstate bank is determined by documents of the Commonwealth ambiguously.

The charter of Interstate bank is integral part of the Agreement on organization of the Interstate bank signed by heads of the State Parties of the Commonwealth on January 22, 1993. According to part 12 of article 8 of the Charter of Bank of amendment and changes to it can be made in the form of special protocols with the consent of all Contracting Parties.

On October 21, 1994 Council of heads of states of the Commonwealth the Decision on enhancement of activities of bodies of the Commonwealth of Independent States determined that the questions determining strategic direction of development of the Commonwealth in problems of political, economic and military cooperation are submitted for consideration of Council of heads of states. It is entrusted to Council of Heads of Government, Council of Foreign Ministers, Council of Ministers of Defense, Interstate economic Committee of Economic union and other bodies of the Commonwealth to make the final decisions on the questions entering their competence.

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