PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

On June 13, 2011 No. 246

About entering of amendment into the Presidential decree of the Republic of Belarus of May 5, 2006 No. 296

For the purpose of streamlining of use of financial resources of the state organizations and economic societies from shares of the state in authorized funds I decide:

1. Item 2 of the Presidential decree of the Republic of Belarus of May 5, 2006 No. 296 "About streamlining of use of financial resources of the state organizations and economic societies from shares of the state in authorized funds" (The national register of legal acts of the Republic of Belarus, 2006, No. 73, 1/7551; 2007, No. 144, 1/8642; 2008, 3, 1/9256) to add No. with part two of the following content:

"The restrictions set in part one of this Item do not extend to provision by the specified state organizations and economic societies of guarantees, guarantees to legal entities of non-state pattern of ownership on execution by these persons of the obligations on return of the loans granted by banks if:

in authorized fund of this legal entity over 50 percent of share (shares) are in management of the state organization or belongs to economic society which provide guarantee, the guarantee;

the specified legal entity - the member of holding which managing company is the state organization or economic society providing guarantee, the guarantee.".

2. This Decree becomes effective from the date of its official publication.

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