LAW OF THE KYRGYZ REPUBLIC

of May 7, 2012 No. 46

About entering of amendment and changes into the Land code of the Kyrgyz Republic

Accepted by Jogorku Kenesh of the Kyrgyz Republic on April 6, 2012

Article 1. Bring in the Land code of the Kyrgyz Republic (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 1999, No. 9, the Art. 440) the following amendments and changes:

1. Add Article 1 with subitem 24-2 of the following content:

"24-2) market value - the most probable price at which object of assessment can be aloof in the public market in the conditions of the competition when the parties of the transaction are effective reasonably, having all necessary information, and no force majeure exert impact on the size of transaction price;".

2. In item 4 of Article 5 of the word of "one year" shall be replaced with words "three years".

3. In the paragraph the second Item 3 of Article 66 of the word of "cost assessment (standard price) of the earth" shall be replaced with words "on market value".

Article 2. This Law becomes effective from the date of official publication.

Article 3. To the government of the Kyrgyz Republic in two-month time to bring the regulatory legal acts into accord with this Law.

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