RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of October 3, 2000 No. 4869

About the state joint-stock corporation of Turkmenkhala

For the purpose of, further development national manual kovrodeliya and enhancement of organizational structure of industry I decide:

1. Approve enclosed:

Regulations on the State joint-stock corporation of Turkmenkhala;

the list of the companies and organizations which are part of the State joint-stock corporation of Turmenkhala.

2. Determine that assessment of the property brought in authorized capital of the State joint-stock corporation of Turkmenkhala is made on its book value for September 1, 2000.

3. Recognize invalid:

the resolution of the President of TSSR of January 14, 1991 No. 6 "About some questions connected with formation of the National republican association of Turkmenkhala;

the resolution of the President of TSSR of May 8, 1991 No. 204 "About approval of the Regulations on the National republican association of Turkmenkhala.

Approved by the resolution of the President of Turkmenistan of October 3, 2000 No. 4869

Regulations on the State joint-stock corporation of Turkmenkhala

1. The state joint-stock corporation of Turkmenkhala (the Corporation is referred to as) is the state body performing single state policy in the field of production and realization of carpets and carpet products of manual development.

The companies and the organizations which are part of Corporation have rights of the legal entity and keep economic independence.

2. The corporation submits to the Cabinet of Ministers of Turkmenistan and performs the activities according to the Constitution of Turkmenistan, the laws of Turkmenistan, acts of the President of Turkmenistan, resolutions of Majlis of Turkmenistan, decisions of the Cabinet of Ministers of Turkmenistan and this Provision.

3. The main objectives of Corporation are:

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