Agreement between the Government of Ukraine and Government of Georgia on mutual recognition of the rights and regulation of the relations of property

of November 5, 1996

The participating governments of this Agreement, the Parties further named,

realizing need of creation of precepts of law which prevent mutual claims and guarantee protection of the property rights of the Parties, their citizens and legal entities;

considering regulation of the property rights as the major condition for adjustment of the full-fledged interstate relations,

for the purpose of creation of conditions for effective development of production and preserving, proceeding from feasibility, single technological complexes;

agreed about the following:

Article 1

The parties mutually recognize the performed transition to their property, according to their national legal system, property, including financial resources of the companies, organizations, the organizations, structural units and divisions of the companies, organizations and the organizations of the former allied subordination located in the territories of the Parties.

Article 2

Each of the Parties recognizes the property rights of other Party, her citizens and legal entities in relation to the companies located in its territory, organizations, the organizations and other objects (branches, shares, shares and other property) which for December 1, 1990 stayed under the authority of state bodies, and also were property of other legal entities and physical persons of other Party, except for objects which are constructed for the purpose of mitigation of consequences of force majeur circumstances.

The property rights to passenger and delivery vessels are regulated by special agreements of the Parties.

Article 3

The property rights to the earth and other natural resources are regulated by the legislation of the Party in the territory of which there are property objects if the second is not provided by other agreements of the Parties.

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