LAW OF THE REPUBLIC OF TAJIKISTAN

of November 14, 2016 No. 1375

About modification and amendments in the Law of the Republic of Tajikistan "About finance lease (leasing)"

Accepted by the Resolution MH MOPT of May 27, 2016, No. 461

Approved by the Resolution MM MORT of November 8, 2016, No. 309

Article 1. Bring in the Law of the Republic of Tajikistan of April 22, 2003 "About finance lease (leasing)" (Akhbori of Majlisi Oli of the Republic of Tajikistan, 2003, No. 4, Art. 139; The Law of the Republic of Tajikistan of March 15, 2016 No. 1300) the following changes and amendments:

1. To write the name of the Law with capital letters.

2. To state preamble of the Law in the following edition:

"This Law determines organizational, legal and economic basis of finance lease (leasing) (further - leasing) and governs the relations arising in the course of leasing activities.".

3. In Article 1:

- replace the words "finance lease (leasing)" with the word "leasing";

- "physical" shall be replaced with words the word to "individual entrepreneurs".

4. State Article 2 in the following edition:

"Article 2. Basic concepts

In this Law the following basic concepts are used:

- leasing - set of the organizational, economic and legal relations connected with leasing agreement performance;

- financial leasing - type of leasing after which termination of term, the property right regarding leasing, according to the agreement, can pass to the leasing recipient;

- operational leasing - leasing type, later, of the termination of term of which, subject of leasing does not carry over the leasing recipient and returns to the lessor;

- returnable leasing - type of leasing according to which, the leasing recipient sells the property to the lessor on condition that the lessor will lease further this mushchestvo the leasing recipient;

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