ORDER OF THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA

of April 8, 1998 No. 396

About approval of the Regulations on sale of shares by means of public offer

The government of the Republic Moldova DECIDES:

Approve Regulations on sale of shares by means of public offer it (is applied).

Approved by the Order of the Government of the Republic of Moldova No. 396 of April 8, 1998

Regulations on sale of shares by means of public offer

I. GENERAL PROVISIONS

1. The regulations on sale of shares by means of public offer (further - provision) are developed according to the Law on the Privatization program for 1997-1998 N1217-XIII of June 25, 1997, the Law on security circulation and N1427-XII stock exchanges of May 18, 1993, the Join-stock companies law N1134-XIII of April 2, 1997 and the Order of the Government of the Republic of Moldova of N1056 of November 12, 1997. "About measures for implementation of the Law on the Privatization program for 1997-1998" also establishes:

a) organizational bases of sale of shares by means of public offer;

b) procedure of registration of sale of shares and procedure for their payment;

c) procedure for renewal of the property right to shares.

2. Sale of shares by means of public offer represents privatization method in case of which shares of the state are exposed for sale to citizens of the Republic of Moldova for certain term on stated price through the financial institution having branch network in the territory of the republic (further - authorized financial institution).

3. The decision on sale of shares of the state by means of public offer is made by the Ministry of privatization and management of state-owned property (further - the Ministry of privatization) which on the basis of the agreement of the order delegates powers on the organization and sale of shares to the authorized financial institution chosen by tender.

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