LAW OF THE REPUBLIC OF BELARUS

of June 4, 1999 N265-Z

About financial and industrial groups

Accepted by the House of Representatives on May 5, 1999

Approved by Council of the Republic on May 21, 1999

This Law determines conditions of creation, state registration, activities and the termination of activities of financial and industrial groups in the territory of the Republic of Belarus.

Article 1. Legislation of the Republic of Belarus on financial and industrial groups

Financial and industrial groups in the activities are guided by the Civil code of the Republic of Belarus, this Law, international treaties (agreements) of the Republic of Belarus and other legislation of the Republic of Belarus.

The relations which are not settled by the Civil code of the Republic of Belarus, this Law and other legislation of the Republic of Belarus are regulated by the agreement on creation of financial and industrial group signed between her participants.

Article 2. Concept of financial and industrial group

Financial and industrial group - consolidation of legal entities (participants of group) performing economic activity on the basis of the agreement on creation of financial and industrial group.

The financial and industrial group is created for the purpose of ensuring economic integration of her participants for implementation of the investment projects and programs directed to increase in goods competitiveness (works, services) and expansion of the markets of their sale, increase in production efficiency, creation of new workplaces.

The financial and industrial group is not legal entity.

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