LAW OF THE REPUBLIC OF MOLDOVA

of May 13, 1999 No. 392-XIV

About restructuring of agricultural enterprises in the course of privatization

For the purpose of restructuring of the agrarian sector in the course of its privatization

The Parliament adopts this organic law.

Chapter I GENERAL PROVISIONS

Article 1. Law coverage

(1) This law governs the relations evolving in the course of creation of private enterprises from the shares of equivalent lands and cost shares of property, and also the subsequent liquidation of the privatized agricultural enterprises received in nature (daleepredpriyatiya) including repayment of their debts.

(2) Operation of this law extends only to the following companies:

a) kolkhozes, sovkhozes, sovkhozes plants;

b) other companies with collective and/or state pattern of ownership having land privatization fund;

c) the economic societies and cooperatives created by reorganization of the companies specified in Items a) and b).

Article 2. Basic concepts

In this law the following concepts are used:

a) participants of privatization are members of kolkhoz, employees of sovkhoz, sovkhoz plant or other company, and also the other persons specified in Article 12 of the Land code and article 35 of the Law on the Privatization program for 1997-1998;

b) creditors - the state, legal entities and physical persons having direct contractual relations with the company;

c) priority creditors are creditors of the company, debts to whom are provided with pledge, and also physical persons before which the company bears responsibility for damnification to their health or in connection with the death of the supporter (further - beneficiaries);

d) active part of property - the irrigational constructions and long-term plantings located on lands of privatization fund, the tractor, the combines, other machines and the equipment of agricultural purpose, vehicles used in production of agricultural products and also seed fund, the working and productive cattle, incomplete agricultural production belonging to the company on the property right;

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