LAW OF THE KYRGYZ REPUBLIC

of December 31, 2008 No. 281

About debt restructuring of prime vendors of the electric power on principal debts, the added percent, penalty fee, financial and to penalties on tax, customs payments and the credits, and also about write-off of the added penalty fee elektroraspredkompaniye to consumers of electricity

Accepted by Jogorku Kenesh of the Kyrgyz Republic on December 25, 2008

The purpose of this Law are stabilization and support of financial and economic condition of prime vendors of the electric power by debt restructuring on principal debts, the added percent, penalty fee, financial and to penalties on tax, customs payments and the credits, and also about write-off of the added penalty fee elektroraspredkompaniye to consumers of electricity.

Article 1. General provisions

1. Action of provisions of this Law extends to subjects of power industry, tax, customs authorities, the State fund of development of economy under the Ministry of Finance of the Kyrgyz Republic, and also consumers of electricity.

2. In this Law the following concepts are applied:

prime vendors - Power plants open joint stock company (further - JSC Elektricheskiye stantsii) and "National Power Grid of Kyrgyzstan" open joint stock company (further - JSC Natsionalnaya elektricheskaya set Kyrgyzstana);

debt restructuring - prolongation of JSC Elektricheskiye stantsii and JSC Natsionalnaya elektricheskaya set Kyrgyzstana of payment due dates and debt write-off;

percent, penalty fee, financial and penalties - the amounts added for untimely payment at the scheduled time of taxes, charges and customs payments according to Tax and Customs codes of the Kyrgyz Republic, the credits in accordance with the terms of the debt obligations concluded with the Ministry of Finance of the Kyrgyz Republic;

elektroraspredkompaniya - JSC Severelektro, JSC Oshelektro, JSC Vostokelektro and JSC Zhalalabatelektro;

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