PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of December 28, 2009 No. 660

About some questions of creation and activities of holdings in the Republic of Belarus

For the purpose of determination of legal status of holding, procedure for its creation and operating conditions:

1. Determine that the holding is consolidation of legal entities (members of holding), in which:

1.1. one of legal entities – the commercial organization is managing company of holding owing to opportunity to exert impact on the decisions made by other legal entities – members of holding (subsidiary companies of holding), on the basis:

ownerships of 25 percent and more common (ordinary) shares (share in authorized funds) of subsidiary companies of holding;

managements of activities of subsidiary companies of holding – the unitary enterprises founded by managing company of holding or in relation to which the managing company of holding acquired the status of the founder on other bases provided by legal acts and also the organizations created by managing company of holding;

the trust management agreement of 25 percent and more common (ordinary) shares (share in authorized funds) of subsidiary companies of holding (further – the trust management agreement);

other agreement according to which the managing company of holding acquires the rights on management of activities of subsidiary companies of holding (further – other agreement);

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