Accepted by the resolution of Inter-parliamentary Assembly of the State Parties of the Commonwealth of Independent States

REFERRAL LEGAL ACT

of March 18, 1994

About the general principles of legal regulation of foreign investments in the State Parties of Inter-parliamentary Assembly

This referral legal act is intended for determination of general legal and economic basis of implementation of foreign investments and directed to creation of the equal economic conditions for mutual investment of the capitals into development of economy of the states of the Commonwealth unified and corresponding to world practice of conditions for attraction and effective use of foreign material, financial and technological resources and creations of the efficient mechanism of protection of the rights and interests of investors.

Article 1. Foreign investors

As foreign investors are considered:

- foreign legal entities, including, in particular, any companies, firms, the companies, the organizations or associations created and competent to perform investments according to the legislation of the country of the location;

- the foreign citizens, stateless persons, citizens of the host country having the permanent residence abroad provided that they are registered for conducting economic activity in the country of their nationality or the permanent residence;

- foreign states;

- international organizations.

Article 2. Foreign investments

Foreign investments are all types of property and the rights to them, and also the intellectual property rights put by foreign investors in objects entrepreneurial and other types of activity for the purpose of profit earning (income).

No change of form in which the investment of values is originally or repeatedly performed leads to change of their qualification as investment.

Article 3. Objects of foreign investments

Foreign investments can invest in any objects and types of activity which are not prohibited for such investments by the legislation.

By legal acts restrictions or prohibitions on implementation of foreign investments in the separate territories, and also concerning certain types of activity can be set.

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