DECREE OF PROVISIONAL GOVERNMENT OF THE KYRGYZ REPUBLIC

of April 21, 2010 No. 18 VP

About introduction of the procedure of external management in legal entities

For the purpose of ensuring protection of the rights of private, state, municipal and other pattern of ownership, and also non-admission of raider captures of objects of the Kyrgyz Republic the Provisional Government of the Kyrgyz Republic accepts this Decree:

1. This Decree determines procedure and conditions of introduction of the procedure of external management in legal entities.

2. The external managing director is the representative of Provisional Government of the Kyrgyz Republic responsible for holding procedure of external management in the corresponding legal entity.

3. The procedure of external management in legal entities is understood as the activities of the external managing director who is specially appointed according to the procedure, the stipulated in Item 4 presents of the Decree regulated by this Decree.

4. The procedure of external management in the corresponding legal entity is entered based on the decision of Provisional Government in which are specified:

- person designated by the external managing director;

- terms of the procedure of external management.

5. From the moment of purpose of external managing power and competence of heads and members (founders, shareholders) of legal entities do not stop.

The external managing director cannot interfere with activities of the legal entity, except for the questions listed in Item 6 of this Decree.

6. Decision making of legal entities by governing bodies into whom the procedure of external management is entered is subject to approval of the external managing director on the following questions:

- modification and amendments in constituent documents of the legal entity;

- change of the size of the authorized capital of the legal entity;

- education and withdrawal of executive and regulatory authority of management of the legal entity;

- approval of annual statements and balance sheets of the legal entity and distribution of its profits and losses;

- decision making about the state re-registration, reorganization or registration of the termination of activities of the legal entity;

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