LAW OF THE KYRGYZ REPUBLIC

of January 28, 2010 No. 16

About write-off of bad debt of consumers of electricity, electric distribution companies, prime vendors of the electric power on principal debts, the added percent, penalty fee, financial, penal and tax the sanction

Accepted by Jogorku Kenesh of the Kyrgyz Republic on December 26, 2009

The purpose of this Law are stabilization and support of financial and economic condition of prime vendors of the electric power and electric distribution companies by write-off of bad debt of consumers of electricity, electric distribution companies, prime vendors of the electric power on principal debts, the added percent, penalty fee, to financial, penal and tax sanctions.

Article 1. General provisions

1. Action of provisions of this Law extends to power industry subjects, the Ministry of Finance of the Kyrgyz Republic, the Ministry of state-owned property of the Kyrgyz Republic, the State Tax Administration under the Government of the Kyrgyz Republic, the State Customs Service under the Government of the Kyrgyz Republic, Fund of the state material reserves under the Government of the Kyrgyz Republic, and also consumers of electricity.

2. In this Law the following concepts are applied:

prime vendors of the electric power - Power plants open joint stock company and "National Power Grid of Kyrgyzstan" open joint stock company;

electric distribution companies (further - elektroraspredkompaniya) - Severelektro, Oshelektro, Vostokelektro and Zhalalabatelektro open joint stock companies;

consumers of electricity - the legal entities and physical persons consuming the electric power;

percent, penalty fee, financial, penal and tax sanctions - the amounts added by state bodies for untimely payment at the scheduled time of payments according to Tax and Customs codes of the Kyrgyz Republic with conditions of debt and other obligations;

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