LAW OF TURKMENISTAN

of March 12, 2010 No. 94-IV

About the state-owned property of Turkmenistan which is located abroad

This Law establishes the organizational and legal basis of management of the state-owned property (further - property) Turkmenistan which is located abroad, protection of the property right of Turkmenistan, creation and functioning of system of accounting and registration of objects of foreign property, the organization of control of efficiency of its use, determines powers of the executive bodies representing Turkmenistan concerning the right of state-owned property of Turkmenistan in case of the conclusion of international treaties.

CHAPTER I. GENERAL PROVISIONS

Article 1. Basic concepts

In this Law the following basic concepts are used:

1) the state-owned property of Turkmenistan which is located abroad - property, securities, the rights to results of intellectual activities, other properties and the related property rights which are belonging on the property right to Turkmenistan and having location abroad;

2) the register - the state register of the rights to the property of Turkmenistan which is located abroad, and transactions, related;

3) declaring - the statement on behalf of the state, the government, legal, physical person about availability at this state, the government, legal, physical person in ownership, use, the order of the objects of property having signs of belonging to property of Turkmenistan;

4) property management of Turkmenistan, being located abroad, - the activities of public authorities directed to implementation of single state policy on effective use and ensuring safety of the property of Turkmenistan which is located abroad.

Article 2. The legislation on the property of Turkmenistan which is located abroad and scope of this Law

1. The legislation on the property of Turkmenistan which is located abroad is based on the Constitution of Turkmenistan and consists of this Law, other regulatory legal acts of Turkmenistan governing the relations of property, the universally recognized norms of international law, international treaties of Turkmenistan.

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