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RESOLUTION OF THE CABINET OF MINISTERS OF THE AZERBAIJAN REPUBLIC

of October 22, 2010 No. 183

About the direction of capital investments (investments) allocated from the government budget and off-budget state funds on increase in the capital of the state companies

For the purpose of improvement of financial condition of the state companies, and also ensuring effective use to destination of capital investments (investments) allocated from the government budget and off-budget state funds, the Cabinet of Ministers of the Azerbaijan Republic decides:

1. Since 2010 means from expenses of the government budget on the state capital investments which are provided to be directed to enhancement of activities of the state companies, strengthening of material and technical resources, including reconstruction and development of infrastructure of the objects which are on their balances in connection with provision of the corresponding services, to include in the authorized capital of data of the companies according to the procedure, established by the legislation.

2. Consider capital investments (investment) allocated to the state companies from the government budget and off-budget state funds during 2007-2009, directed to increase in the authorized capital of data of the state companies.

3. Under the Ministry of Economics of the Azerbaijan Republic to charge to the involved state companies and Public service for property questions:

* in the procedure established by the legislation to provide introduction of the relevant amendments to charters of the state companies to which capital investments (investment) from the government budget and off-budget state funds are allocated, if necessary to prepare relevant proposals and to provide them to the Cabinet of Ministers of the Azerbaijan Republic;

* report to the Cabinet of Ministers of the Azerbaijan Republic about execution of this resolution.

4. This resolution becomes effective from the date of signing.

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