Approved by the Resolution of Board of the State property fund of the Kyrgyz Republic of April 11, 1997 No. 50

PROVISIONAL REGULATIONS FOR APPROVAL OF MORTGAGE TRANSACTIONS

These Provisional regulations (further on tekstu-Polozheniye) are developed for the purpose of the organization by the State property fund of the Kyrgyz Republic of single procedure for the solution of questions of consent on guarantee of the state-owned property assigned to the state companies on the right of complete economic maintaining according to Item 3 of article II and on pledge of the property which is in common property in joint-stock and other contractual companies according to Item 2 of article 8 of the Law of the Kyrgyz Republic "About pledge", Articles 3, 4 Laws of the Kyrgyz Republic "About the state property fund of the Kyrgyz Republic.

This Provision does not extend to pledge agreements of property rights.

1. GENERAL PROVISIONS

1.1. The state company to which the state-owned property is assigned on the right of complete economic maintaining performs pledge of the company in general, its structural units and divisions as property complexes, and also certain buildings and constructions with the consent of the State property fund of the Kyrgyz Republic (further - the State property fund hereinafter is referred to as) and its territorial authorities.

1.2. The property which is in common property can be pledged only with the consent of all owners, and the state share with the consent of the State property fund of the Kyrgyz Republic.

1.3. Pledge to owners of the share in common ownership does not require the consent of other owners if this share is determined in kind.

1.4. The consent of the State property fund and its territorial authorities to transfer to guarantee of state-owned property is given before state registration of pledge.

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