PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of July 17, 2006 No. 449

About use by legal entities of the agricultural machinery received on the terms of long-term lease (finance lease (leasing), and settlement of calculations for this equipment

For the purpose of streamlining of the property relations between the state and the legal entities who received agricultural machinery on the terms of long-term lease (finance lease (leasing), settlement of calculations for this equipment:

1. Determine that:

1.1. tractors, farm vehicles, the equipment, other agricultural machinery, and also the cargo and special equipment vehicles (further - agricultural machinery) acquired at the expense of means of republican fund of support of producers of agricultural products, food and agrarian science of the credits repaid at the expense of means of the called fund are transferred by the legal entities who are lessors, lessors, from September 1, 2006 to February 28, 2007 in property (economic maintaining, operational management) to the legal entities who received this agricultural machinery during the period from January 1, 1996 to December 31, 2004 on the terms of long-term lease (finance lease (leasing) *, and also to legal entities, acquired the rights and obligations of unprofitable agricultural organizations and using delay of obligation fulfillment by calculations for such equipment according to decisions of the President of the Republic of Belarus (further - lessees, leasing recipients);

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* For the purposes of this Decree under long-term lease (finance lease (leasing) the legal relationship performed based on the lease agreement (finance lease (leasing) signed for the term of over one year and providing transition of the property right to leased property to the lessee after lease term or before its expiration on condition of introduction by the lessee of all buyback price caused by the agreement are understood.

1.2. the price of the agricultural machinery specified in subitem 1.1 of this Item, calculated as difference between buyback price and the amount of remuneration (income) to the lessor (lessor), including one-time fee for the specified agricultural machinery by transfer to the lessee to property (economic maintaining, operational management) and statement on financial accounting is subject to reduction by 50 percent;

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