PRESIDENTIAL DECREE OF THE AZERBAIJAN REPUBLIC

of February 23, 2006 No. 372

About measures for enhancement of management in the field of melioration and water economy

As a result of carried out for long years in the Azerbaijan Republic of big creative work large-scale systems and constructions of melioration and water economy were constructed and put in operation, the diversified complex of melioration and water economy is created. At the same time dynamic social and economic development of the country at the present stage requires enhancement of the economic relations in the field, implementation of public administration and economic activity according to the principles of market economy.

For the purpose of enhancement of management system in the field of melioration and water economy, increase in efficiency of use of water resources, I decide improvements of the organization of the works connected with melioration and irrigation of lands:

1. Based on the State agency of melioration and water economy under the Ministry of Agriculture of the Azerbaijan Republic to create Open joint stock company of melioration and water economy of Azerbaijan.

2. Determine that the Open joint stock company of melioration and water economy of Azerbaijan is rendering the state services in the field of melioration and water economy, other works connected with the development of this industry by joint-stock company which stocks the state owns performing water providing lands, organizing operation of the meliorative and irrigational systems which are in state-owned property, performing.

2-1. To assign implementation of powers of general meeting of shareholders of Society to the following state bodies:

2-1.1. President of the Azerbaijan Republic:

2-1.1.1. the solution of questions on reorganization and liquidation of Society;

2-1.1.2. position assignment and dismissal of the chairman of Society.

2-1.2. Cabinet of Ministers of the Azerbaijan Republic:

2-1.2.1. Approval of the Charter and structure of Society, establishment of the size of the authorized capital;

2-1.2.2. establishment of the development strategy of Society;

2-1.2.3. approval of annual reports, accounting records of Society, income distribution and losses;

2-1.2.4. position assignment and dismissal of vice-chairmen of Society;

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