of June 12, 1997 No. 228-I
About privatization and privatization
(in the new edition)
This Law determines the legal basis of privatization and privatization of objects of state-owned property and is aimed at the development of different patterns of ownership in Turkmenistan.
Privatization is understood as transformation of state-owned property to other patterns of ownership the collective companies, joint-stock companies, the companies of other forms of business.
Privatization is understood as acquisition in property of citizens or the legal entities of objects of state-owned property created by them.
The legal relationship arising in case of privatization and privatization of objects of the state-owned property including which is outside Turkmenistan are regulated by this Law and other regulatory legal acts of Turkmenistan.
This Law does not regulate recovery of property rights of owners, their heirs and legal successors on property which was nationalized, confiscated or is earlier withdrawn by different way against their will in property of the state.
The land use relations in case of privatization and privatization of objects of state-owned property are regulated by the land legislation of Turkmenistan.
Privatization and privatization of the state agricultural enterprises, housing stock, welfare organizations, objects of cultural and historical heritage are regulated by separate regulatory legal acts of Turkmenistan.
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The document ceased to be valid since July 1, 2014 according to article 25 of the Law of Turkmenistan of 18.12.2013.