Approved by the Order of the Minister of Economy and Finance of Turkmenistan of November 7, 2003 No. 60

The instruction No. 21 about accounting treatment, estimates, storages and the realization confiscated, which passed to the state ownerless and on property inheritance right, and also the property which passed to treasury as not having heirs, and treasures

Section 1. General provisions

1. This Instruction is developed according to the Provisions "About Accounting Treatment, Estimates, Storages and the Realization Confiscated, Which Passed to the State Ownerless and on Property Inheritance Right, and also the Property Which Passed to Treasury as Not Having Heirs, and Treasures", the President of Turkmenistan approved by the resolution from 23 dates Alp Arslan 2002 No. 5879 and "About Fund of financial support of bodies of defense industry and law enforcement agencies of Turkmenistan", the President of Turkmenistan approved by the resolution from 4 dates Baydak 2003 No. 6123.

Bodies of Tax Service in the activities for accounting, assessment, storage, realization confiscated, passed to the state ownerless and on property inheritance right, and also the property which passed to treasury as not having heirs, and treasures, are guided by acts of authorized bodies to make on them relevant decisions, the regulatory legal acts regulating the specified legal relationship and this Instruction.

This Instruction establishes procedure for application of above-mentioned Provision on the following property transferred to bodies of Tax Service of Turkmenistan for realization:

to the property seized based on sentences and resolutions of kazyet or according to solutions of others, the state bodies authorized on that in the procedure established by the legislation;

to the property which is ownerless (according to the procedure provided in Article 213 of the Civil code of Turkmenistan of Saparmurat Turkmenbasha);

to the property which passed to treasury as not having heirs, and also to the property which passed to the state on inheritance right;

the treasures which passed to the state in the procedure established by the legislation.

The rules provided by the Civil code of Turkmenistan of Saparmurat Turkmenbasha are applied to the terms specified in this Instruction.

2. According to the current legislation of Turkmenistan, condemned property the property (including securities and money) gratuitously confiscated by authorized bodies as the sanction for made by the owner of property of offense and acquired by it by the method prohibited by the law is recognized.

Accounting, assessment, storage and realization of the property seized by kazyetsky bodies are made according to the procedure, established by this Instruction.

In the same procedure accounting, assessment, storage and realization of the property seized by others (except kazyet) bodies is performed if the current legislation of Turkmenistan does not establish special accounting treatment, assessment and realization of this property. In particular, provisions of this Instruction are not applied to property on which the Instruction expatiates on accounting treatment, assessment, storage and sales of goods (materials) confiscated according to resolutions of State Trade Inspection, approved by the Ministry of Trade and resources of Turkmenistan 23.07.1998, approved with the Ministry of Economics and finance of Turkmenistan and registered by the Ministry of Justice of Turkmenistan 7.08.1998 at No. 177.

If the condemned property was fully or partially directed to repayment of the debts which are subject to satisfaction at the expense of this property, kazyetsky bodies report about it to bodies of Tax Service.

According to the current legislation identification and capture on accounting of the property which is subject to confiscation according to solutions of kazyet are made by kazyetsky contractors.

3. According to part 1 of Article 213 of the Civil code of Turkmenistan of Saparmurat Turkmenbasha, the movable thing is considered ownerless if the former owner for the purpose of refusal of property stops ownership of thing.

By part 2 of the specified Article it is determined that person which accepted ownerless movable thing in ownership acquires the property right to this thing if assignment of thing is not forbidden by the law or assignment the rights of person who had the right to this thing are not violated.

This Instruction determines accounting treatment, estimates, storages and realization of ownerless movable things when assignment by their other person is forbidden by the law, and also other property in abeyance which passed to the state.

When person which accepted ownerless thing in ownership determines that assignment of thing is forbidden by the law, and also other property in abeyance which by law is subject to transition to the state, shall notify such person in writing about it body of Tax Service for the place of statement on tax accounting for the purposes of transfer it in the income of the state.

4. According to part 1 of Article 1160 of the Civil code of Turkmenistan of Saparmurat Turkmenbasha the property passes to treasury if there are no heirs neither under the law, nor according to the will or any of heirs did not accept inheritance, or all heirs are deprived of inheritance right. If the testator was on content of organizations for aged, disabled people, medical, educational institutions and organizations of social security, - in their property.

By part 2 of Article stated above it is determined that the property which does not have heirs in the form of shares of society or share, share in cooperative passes to them if the law does not provide other.

Provisions of this Instruction extend also concerning the property which passed to the state on inheritance right, that is, transferred to the state according to the will.

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