of December 18, 2013 No. 458-IV
About privatization and privatization of state-owned property
This Law establishes legal, economic and organizational basis of privatization and privatization of state-owned property and is aimed at the development of entrepreneurship and creation of conditions for investment attraction and development of effective, socially oriented market economy in Turkmenistan.
1. Privatization transformation of the state company in joint-stock company or the company of other form of business which founder is the state or one of founders of which shall be the state.
2. Privatization of state-owned property - paid property acquisition, being in state-owned property, in property of physical and (or) non-state legal entities.
1. The legislation of Turkmenistan on privatization and privatization of state-owned property is based on the Constitution of Turkmenistan and consists of this Law and other regulatory legal acts of Turkmenistan.
2. If the international treaty of Turkmenistan establishes other rules than containing in this Law, then rules of the international treaty are applied.
1. Operation of this Law extends to the relations arising in case of privatization and privatization of state-owned property and the related relations on management of state-owned property.
2. Operation of this Law does not extend on:
1) the relations arising in case of privatization of the state housing stock, and also the state-owned property which is outside Turkmenistan;
2) recovery of property rights of owners, their heirs on property which was seized or different way against their will is earlier withdrawn according to the procedure, established by the legislation of Turkmenistan, in property of the state;
3) cases of accomplishment of obligations of Turkmenistan according to the international treaties signed by Turkmenistan.
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