RESOLUTION OF THE CABINET OF MINISTERS OF THE AZERBAIJAN REPUBLIC

of June 18, 2005 No. 106

About approval of the Charter of Azerbaijani TV and Radio Broadcasting private company

The Cabinet of Ministers of the Azerbaijan Republic decides:

1. Approve "The charter of Azerbaijani TV and Radio Broadcasting private company (are applied).

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

Approved by the Resolution of the Cabinet of Ministers of the Azerbaijan Republic of June 18, 2005, No. 106

Charter of Azerbaijani TV and Radio Broadcasting Private company

I. General provisions

1.1. The Azerbaijani TV and Radio Broadcasting private company (further - Society) was created by the Decree (further - the Decree) the President of the Azerbaijan Republic "About creation of Azerbaijani TV and Radio Broadcasting Private company of March 23, 2005 No. 23 based on the Azerbaijani state-owned company of telebroadcasts.

1.2. Form of business of society: Private company.

1.3. Complete name of society: Azerbaijani TV and Radio Broadcasting private company.

1.4. Short name of society: AZTV Ltd.

1.5. Shares of Society extend only between founders or in circle of in advance determined persons. Record on the shares issued by it cannot carry out society open subscriber and cannot offer the unrestricted group of people for acquisition them in other form.

1.6. The number of members of Society shall not exceed 50, otherwise it within one year shall turn into open joint stock company if after this term reducing number of participants will not be brought to the specified limit, it shall be liquidated judicially.

1.7. Society bears responsibility according to obligations all the property.

1.8. Shareholders of Society do not answer for its obligations and bear responsibility within cost for the harm connected with activities of Society of the stocks owned by them.

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