PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of May 5, 2006 No. 296

About streamlining of use of financial resources of the state organizations and economic societies from shares of the state in authorized funds

For the purpose of streamlining of use of financial resources of the state organizations and economic societies from shares of the state in authorized funds I decide:

1. Approve the enclosed Regulations on procedure for provision as a loan of money by the state organizations and economic societies from shares of the state in authorized funds.

2. Determine what has no right to act as guarantors, guarantors of the third parties – legal entities of non-state pattern of ownership (including share (share) in authorized funds of which are in state-owned property) and physical persons on execution by these persons of the obligations on return of the loans granted by banks and the non-bank credit and financial organizations, except for the credits issued on construction of premises if other is not established by the President of the Republic of Belarus:

the state organizations which are under supervision (maintaining) of the President of the Republic of Belarus, Council of Ministers of the Republic of Belarus, Administration of the President of the Republic of Belarus, National Bank, National academy of Sciences of Belarus, republican state bodies, local executive and administrative organs (except non-profit organizations on development and support of the small business entities created (created) by these bodies), and also being part of the state organizations subordinated to the Government of the Republic of Belarus;

economic societies (except banks and the non-bank credit and financial organizations) concerning which the Republic of Belarus or administrative and territorial unit, having shares (shares) in authorized funds which are in management of state bodies and (or) legal entities of the state pattern of ownership, or other in a way which is not contradicting the legislation can determine the decisions made by these societies.

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