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APPENDIX No 4
To the Decree by President of the Republic of Uzbekistan dated July 21, 2006 No PP-423
    ORDER on the State Tender Commission for Conducting the Tenders on Sales of the State-Owned Property to the Foreign Investors

    I. General Provisions

    II. Tasks of the Commission

    III. Rights and Obligations of the Commission

    IV. Organization of the Commission's Work

    V. Work Groups of the Commission 

    VI. Labour Body of the Commission

    I. GENERAL PROVISIONS

    1. The present Order establishes Tasks, Rights and Obligations of the State Tender Commission for Conducting the Tenders on Sales of the State-Owned Property to the Foreign Investors  (hereinafter referred to as "the Commission"), in parts concerning the State-Owned Enterprises (Property) as well as Stocks' Packages and Shares belonging to the State and being subject for Sale in way of Case-by-Case Projects in accordance with the Programs for Denationalization and Privatization of the Enterprises approved by the Resolutions of the President of the Republic of Uzbekistan.   

     

    2. Resolutions of the commission adopted within the limits of its competence are binding for execution by the bodies of State and Economic Governance as well as the Local State Power Bodies, Economic Enterprises irrespective of forms of property as well as their branch Unions  (Economic Associations) and Official Persons.

II. TASKS OF THE COMMISSION

      3. The main Tasks of the Commission are as follows:

  • arrangement of the State and Economic Governance bodies' joint activity,  functioning of the Exercises' Management bodies as well as the Local State Power Bodies as well as the involved Expert companies and Consultants on issues of the Pre-Sale Preparation and Sales  the Enterprises subject to privatization by Case-by-Case projects;
  • creation of the Equal Competition Terms for the Tender and Auction Participants on basis of the Publicity, Openness,  Objectivity of the Evaluation and Unity of the Requirements;
  • selection of the most beneficial Bidders' Proposals on the purchase of the State-Owned assets to be sold through the Tender Sales;
  • arrangement of the unconditional implementation of the documents issued by the President and the Government aimed at further deepening of the Privatization Process concerning the State-Owned Enterprises  with participation of the Foreign Investors, the wide involvement of the Foreign Investments especially the Direct ones into the Economy of the Republic,  further development and rise of the Private Sector's Role un the Economy;
  • elimination of facts of the red tape, display of bureaucracy and delays in dates of the solution of the problems concerning Privatization of the Sites including those with participation of the Foreign Investors and acceleration of Sales of the Stocks' Packages and Enterprises as a whole to the Winners of the Competition (Tender) Sales in the Economy Branches upon which the Commission's Resolutions were previously adopted.
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    III. RIGHTS AND OBLIGATIONS OF THE COMMISSION

      4. The Commission is entitled to:

  • determine the Terms and Forms of the State-Owned Assets' Sales (Tender, Auction, Exchange ones) to be effected by the State Property Committee  (SPC) in the established order to the Investors at first place providing the creation of the new jobs, effective and profitable activity of the Enterprises subject to Privatization, increase of their Production Volume;
  • create, with the aim of qualified selection of the Tender Participants and Evaluation of the Tender Proposals,  the Inter-Institutional Work Groups for Conduct of the Tenders on Sales of the Sites, Stocks (Shares)  to the Investors;
  • approve the Tender Documentation as well as the Sale' Price for the Objects of a Tender, terms and criteria for  selection of expert companies and mediators, including the foreign ones, to be involved into selling processes concerning Objects of Tenders;
  • change a size of the Starting Price of an Object of a Tender, depended to the demand conjuncture for a Site (Stocks' Package) subject to Privatization and in case of presence of  the concrete Strategic Investors  with the according Investment Obligations, in the order established by the Cabinet of Ministers of the Republic of Uzbekistan;
  • approve the results of the Tender Sales conducted by the State Property Committee or the local and foreign Investment Mediators involved by the SPC on a contract basis;
  • in case of absence of a Winner upon the results of Tender or Auction Sales, to adopt decisions on selling the State-Owned Assets via other ways of sale (Exchange Sales or Direct Negotiations with Potential Investors);
  • make decisions on Sales of the Sites and Stocks (Shares), including the Combined Forms of Payment both in Free Convertible (FCC) or National Currencies as well as on the account of Supplies of the Modern Technological Equipment on condition of acceptance by an Investor of the concrete Investment Obligations in FCC;
  • receive the information needed to provide the execution of the tasks it is charged with, from the Bodies of State and Economic Governance as well as the Local State Power Bodies, Economic Enterprises;
  • independently adopt decisions concerning the facts of the red tape, display of bureaucracy and delays in dates of the solution of the problems related to Privatization of the Sites and acceleration of Sales of the Stocks and Enterprises to the Investors;
  • engage the representatives State Governance as well as the Local State Power Bodies, executive bodies of the Economic Unions and Enterprises into the Commission's activity;
  • approve terms and criteria for the engagement of Financial Consultants, Experts and Technical Specialists  necessary for successful Sales of the State-Owned Assets;
  • make decisions on approval of the Lists of the State-Owned Unprofitable, Loss Suffering, Economically Unsustainable Enterprises and Low-Liquidity Sites subject to Sales at "Zero" Purchase Price as well as the terms for their Sales with acceptance of Investment Obligations by the Investors.
  • In separate cases, in course of attraction of the Investments into the Enterprises possessing the Strategic Significance for the Economy, the Commission is also entitled to:
  • adopt decisions on restructuring of the debts before the State Budget and State-Owned Enterprises, including a possibility of delayed payment on them, accumulated prior to Sale of an Enterprise (Stocks or Shares' Package);
  • establish upon an Investors' request the Moratorium on Rise of the Requirements concerning the Environment Protection Figures for the period of developing the New Production Capacities and Products.
  • The Commission, in case of a Sale of the State-Owned Property to the First-Class Strategic Investors in exchange for their Investment Obligations related to further development of an Enterprise, is also entitled to adopt Resolutions on presenting to the Cabinet of Ministers the Proposals on:

  • increase of the State-Owned Share subject to Sale up to the Control Stocks' Package or an Enterprise as a whole, under condition of acceptance by an Investor of the Additional Obligations  on the entire pay-off of an Enterprise's debts on the Bank Loans, including the International ones received under the Guarantee by the Government of the Republic of Uzbekistan;
  • partial or complete restructuring of debts of an Enterprise subject to privatization concerning the Bank Loans, including the International ones received under the Guarantee by the Government of the Republic of Uzbekistan.
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    5. The Commission is obliged to:

  • carry out the decisions of the Cabinet of Ministers of the Republic of Uzbekistan related to arrangement of the Tender Objects' Sales;
  • perform the control over the in-time implementation of the Resolutions adopted by the Commission's meetings.
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IV. ORGANIZATION OF THE COMMISSION'S WORK

     

    6. In its activity the Commission follows this Order and performs its job in accordance with the Regulation approved by it. 

     

    7. The Commission's meetings are to be held periodically upon the necessity with participation of not less than three-fourths of its members.

    Resolutions of the Commission are adopted by a simple majority of votes of the Commission's members present at a meeting. In case of equality of votes, the vote by the Commission's Chairman is considered decisive.

    The Commission's Resolutions shall be formed into Minutes to be signed by the Commission's Members, having participated at a meeting, and approved by the Chairman of the Commission or his Deputy. At signing the Minutes the Commission's members are entitled to append to Minutes their specific opinions.

     

    8. Transfer of a Tender Object to a Winner of a Tender is performed by the State Property Committee upon the according Resolution issued by the Commission.

     

    9. Information related to the Commission's activity is confidential and not to be disclosed to third parties not participating in the process of Privatization.

    The Commission's Members as well as Members of the Work Groups, in order established by the legislation, bear responsibility for disclosure of the said information.

     

    10. Expenses born by the Commission in process of Organization and Conduct of a Tender, as well as on selection on tender basis of and paying the Success Fees to the Expert Companies and Mediators, including foreign ones, shall be paid on the account of the funds received from:

  • Denationalization and Privatization of the State-Owned Assets;
  • Sales of the Objects of Tenders.
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V. WORK GROUPS OF THE COMMISSION

     

    11. The Inter-Institutional Work Groups (hereinafter referred to as "the Work Groups") are created by decision of the Commission depended to Enterprises' affiliation to Industry Branches and consist of the responsible officials of the Cabinet of Ministers, Ministry of Finance, Ministry of Justice, Ministry of Economy, State Property Committee,   Ministry of Foreign Economic Relations, Investments and Trade as well as representatives of the according Industry Branches and Enterprises.

    The Work Groups are chaired by the Heads of the according Branch Complexes of the Cabinet of Ministers. The personal membership of the Work Groups is approved by decision of the Commission. The work-plan of a Work Group is approved by the Head of that Group.

     

    12. The main functions of the Work Groups are:

  • preparation of all the initial information on technical and economic parameters, future development prospects of Enterprises on basis of the materials presented by the State Property Committee;
  • participation in elaboration of the Terms of References for the Mediators involved into Organization of Tenders;
  • presenting to the Labour Body of the Commission their proposals on Terms and Forms of Sales of the State-Owned Assets, determination of their Sale Prices, way of Evaluation of the Investment Proposals, criteria for a Winner's selection, order and terms of Payments;
  • arrangement of familiarization of the Potential Investors with Enterprises subject to Privatization;
  • performance of Expert Evaluation and preparation of a Conclusion on Investment Proposals received from Investors.
  •  

    13. The Head of the Work Group is obliged to participate at meetings of at the Commission's meetings during discussions over forms of a Sale of State-Owned Assets in the Enterprises subject to Privatization as well as during consideration of Investors' Proposals related to sales of the Enterprises under their supervision.

     

    14. Meetings of a Work Group are considered valid at participation of the not less than three-fourth of its members.

    Resolutions of a Work Group meetings shall be formed into Minutes to be signed by all its Members, having participated at that meeting, and approved by the Head of that Group.

    Resolutions are adopted by a simple majority of votes of a Work Group's members present at a meeting. In case of equality of votes, the vote by the Head of a Work Group is considered decisive.

     

    VI. LABOUR BODY OF THE COMMISSION

      15. The State Property Committee is considered being the Labour Body of the Commission performing organization of Preparation and Conduct of Tenders (Expert Evaluation of the received Proposals, forming the documents to be considered by the Commission, Advertising works, paperwork of the Commission).

     

    16. The Labour Body of the Commission is entitled to:

     

    а) organize and conduct, including cases when of Specialized Organizations and Mediators are involved,  the Auction and Tender Sales on Terms approved by the Commission;

    b) on Terms and Criteria approved by the Commission, to invite on competition basis with the aim of Preparation and Conduct of a Tender or an Auction, the Technical, financial and Legal Experts and Mediators, including the Foreign ones, with payment for their services from the general funds received from Privatization of the State-Owned Property with further compensation of those expenses  on the account of revenue received from Sales of Sites (Shares);

    c) present to the Commission the proposals on:

  • changes into Forms and Terms of Sales of the State-Owned Assets in case of absence of interest on part of the Potential Investors after the Announcement or Conduct, in the established order, of a Tender or an Auction Sale;
  •   financial and technical Terms concerning Preparation and Conduct of Tender Sales, ways of Evaluation of Investment Proposals, Criteria for a Winner's selection, order and terms of Payments;
  • d) receive from the State Governance Bodies, local State Power Bodies, unions legal entities and Enterprises the information necessary for performance of the tasks the SPC is charged with;

    e) request the reports on works done by the Inter-Institutional Work Groups;

    f) in concordance with the Commission to publish on the own behalf in Mass Media the information of Conduct and Results of Tender Sales.

     

    17. The Labour Body of the Commission is obliged to:

  • carry out in-time the Resolutions adopted by the Commission;
  • perform collection, systematization and processing of information about each Site subject to Privatization;
  • provide the in-time dispatch to Potential Investors, including the Foreign ones, the general compulsory information about  an Enterprise as well as additional information upon their requests;
  • eLabourate and formalize directly or together with other Sales' drafts of Terms of Reference,  Contracts and other Tender Documentation subject to approval by the Commission;
  • perform co-ordination of work done by the Inter-Institutional Work Groups concerning ELabouration of Projects and Expert Evaluation of Proposals received on the Sites put for Sale;
  • arrange advertising and information work on the Conduct of Tenders and Auctions. Together with issuer Enterprises and their Economic Governance Bodies, the Labour Body performs disclosure of information about Enterprises, creates conditions necessary for familiarization of Potential Investors with Enterprises, their main technical financial and production data; arranges search of Investors and negotiations with them;
  • periodically, not less than once on a quarter of a year, to inform the Commission on results of Tender, Auction and Exchange Sales as well as the results on the concluded Direct Contracts concerning Sales of the State-Owned Assets on Terms approved by the Commission;
  • solve all organizational issues related to calling of the Commission's meetings;
  • neatly and completely conduct the Commission's paperwork, perform register and classification of the Commission's correspondence, formalize in-time Minutes of all meetings held by the Commission and Inter-Institutional Work Groups.
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    18. The State Property Committee bears the full responsibility for unconditional implementation of the approved Privatization Programs, additional replenishment the hard-currency resources from Privatization, as well as for the strict observance concerning distribution of funds received from Denationalization.

 

 

Appendix No 1

to the Minutes of the State Tender Commission dated August 08, 2006г. No 02-8-182   

REGULATIONS of Work of the State Tender Commission for Conducting the Tenders on Sales of the State-Owned Property to the Foreign Investors 
I. General Provisions

1.1. The present Regulations have been eLabourated on basis of:

"The Order on the State Tender Commission for Conducting the Tenders on Sales of the State-Owned Property to the Foreign Investors" approved by the Decree by President of the Republic of Uzbekistan dated July 21, 2006 No PP-423;

"The Order (Procedure) on Conducting of the Tenders for Sales of the Enterprises and Stocks (Shares) of the State-Owned Enterprises subject to Privatization" approved by the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan dated August 18, 1997 No 404.

1.2. The Regulations determine the order of functioning of the State Tender Commission for Conducting the Tenders on Sales of the State-Owned Property to the Foreign Investors (hereinafter referred to as "the State Tender Commission") related to definition of Terms and Forms of Sales (Tender, Auction and Exchange ones), to be performed in the established order by the State Property Committee to Investors, of the Stocks' Packages (Shares), Enterprises and Sites as a Whole (hereinafter referred to as "the State-Owned Assets"), subject to Sale by decisions of the State Tender Commission.

1.3. The practical arrangement of the State Tender Commission's work is performed by the Labour Body  represented by the State Property Committee (hereinafter referred to as "the Labour Body"), responsible for the performance of all documents circulation of the Commission, including collection of the initial information, necessary conclusions, providing the Heads of the Work Groups with documents,   preparation of the draft Minutes and all other documentation before the Commission's meetings and providing the Commission's members by it.

1.4. Meetings of the State Tender Commission are held not less that once a month in accordance with the work plan approved by its Chairman and by a proposal of the Labour Body. In separate cases the Commission's meetings may be held at an application by the not less than third of its members.

1.5. Attached to the State Tender Commission the Inter-Institutional Work Groups (hereinafter referred to as "the Work Groups") are created with the task to consider and present proposals concerning the Materials and Terms for the planned Tenders,   Expert Evaluation of Tender Proposals and other documents at the Labour body's request made in process of preparing the materials for the oncoming Commission's meeting.

1.6. Preparation of Work Groups' Proposals is based on the Conclusions presented by:

 

in cases of the Enterprises and Sites' Sales to Foreign Investors

  • Ministry of Economy;
  • State Committee for Demonopolization, Support of Competition and Entrepreneurship (hereinafter referred to as the "Antimonopoly Committee");
  • Ministry of Finance;
  • Ministry of Justice;
  • Office of General Public Prosecutor;
  • State Property Committee.

 

in cases of the Enterprises' Sales at "Zero" Purchase Price

  • Antimonopoly Committee;
  • Ministry of Finance;
  • State Tax Committee;
  • State Property Committee.

 

  1.7. The Work Groups effectively interact with the State Property Committee, Antimonopoly Committee, Ministries of Economy, Finance, Justice, Foreign Economic Relations, Trade and Investments and other concerned ministries and institutions.

 

II. Organizing the Meetings of the State Tender Commission

2.1. The State Tender Commission is headed by the Chairman who leads the work, helds the Commission's Meetings and approves the Minutes of its Meetings, Extracts from the Minutes and other documents of the Commission.

2.2. The Chairman of  State Tender Commission is entitled to:

  • delegate to his Deputy the rights to: hold separate Meetings (with the exclusion of those determining Winners of Tender Sales), sign the Minutes (Extracts from the Minutes) of the Commission;
  • determine the queue (sequence) of Enterprises subject for consideration by a Meeting of the Commission in accordance with time-tables and measures foreseen by the projects for their Privatization and Sale to Foreign Investors.

2.3. The Commission's Meetings are considered valid in case of presence at them of not less than three-fourth of its Members. Members of the State Tender Commission are obliged to be personally present at the commission's Meetings. In case of absence of a Member of the Commission by objective reasons, a proxy (authorized representative) without the vote  may be sent to a Meeting.

 In case of absence of the Chairman of State Tender Commission (due to a business trip, illness, vocation and other objective reasons) the Commission's Meetings are held by the Deputy Chairman.

The Chairman of the Commission is entitled to put forward the issue on responsibility of the Commission's Members for not participating in its Meetings without objective reasons.

2.4. Suggestion on calling the next (regular) Meetings, their Agenda and all necessary materials (drafts of Scenarios and Minutes of the Meetings, information/reference material etc.) are to be presented by the Labour Body of the State Tender Commission for consideration by its Chairman not later than five days before the planned date of the Commission's Meeting.

Date, time and place, Agenda and materials of a next (regular) Meeting and results of the Conducted Tenders with the Minutes of the Work Groups shall be sent to the Commission's Members  not later than three days before conduct of the Meeting.

With the purpose to observe confidentiality all materials (concerning the Agenda and other ones) shall be handed over to Members of the State Tender Commission in way of delivery by a courier with the confirming receipt.

2.5. During the Meetings of the State Tender Commission selection of a Tender Sales' Winner shall be done on basis of the Tender Documentation's Criteria and Expert Conclusion in respect of each concrete Object of a Tender contained by the Minutes of Work Groups.

Getting the Tender Sales' Participants informed on the results and decisions taken by the State Tender Commission  shall be carried out in way of a written notice to be sent to each of them by the Labour Body within the three days' period after the approval of the Minutes of the Commission's Meeting.

2.6. Resolutions of the State Tender Commission are adopted by a simple majority of votes of Members present at the Commission's Meetings and are to be formed into the Minutes to be signed within the not less than ten days' period by the Commission's Members having participated and voted.    The Commission's Members, at signing the Minutes, are entitled to express their opinion in a written form. The Commission's Members, having not participated at a Meeting of the Commission by objective reasons are entitled to get acquainted with any of its Resolutions and, in case of their disagreement are entitled to:

  • express their opinion in a written form;
  • demand calling of a repeated Meeting of the Commission on the particular issue with the aim of review of the adopted Resolution  provided that this demand is supported by not less than the one-third of all the Commission's Members.

Separate Resolutions of the State Tender Commission, not related to decision-making on selection of Tender Sales' Winners and depended to the urgency of an issue, may be adopted in an inquiry way and be formalized without a Meeting actually held.

 

III. List of Issues subject to consideration by a Meeting of the State Tender Commission

3.1. At a Meeting of the State Tender Commission the following Issues are to be considered:

  • approval of the time-tables and measures on Conduct of Tender and other kinds of Sales of the State-Owned Assets, lists of Enterprises subject to Sale at a "Zero" Purchase Price;
  • proposals on Sales of the State-Owned Assets to Investors;
  • determining a Buyer for Sites subject to Sale to Investors with application of flexible forms of Payment for the  State-Owned Assets to be acquired by them;
  • approval of the Tender Documentation, Sale Price for an Object of a Tender, Terms and Criteria for selection of the Foreign Expert Companies, Consultants (Investment Banks) and Mediators for the Pre-Sale Preparation of Objects of Tender, Preparation and Conduct of Tenders;
  • selection of a Tender's Winner in process of involving the Foreign Consultants (Investment Banks) for the Pre-Sale Preparation of Objects of Tender, Preparation and Conduct of Tenders;
  • restructuring of the debts owed to the State Budget and State enterprises accumulated by an Enterprise before Sales of a State-Owned Asset including the possibility of payment delay on them;
  • establishing upon an Investors' request the Moratorium on Rise of the Requirements concerning the Environment Protection Figures for the period of developing the New Production Capacities and Products;
  • hearing the reports by the Labour Body on monitoring over the Execution of Investment Obligations taken by Investors at their purchase of the State-Owned Assets  at "Zero" Purchase Price, activity of Enterprises and Sites previously sold by the Commission's decisions;
  • hearing the reports on the works done by the State Property Committee, Inter-Institutional Work Groups, ministries and institutions, heads of Economic Unions on issues concerning Sales of Enterprises and Sites  at "Zero" Purchase Price, State-Owned Assets to Foreign Investors and attraction Foreign Investments into the Enterprises;
  • control over implementation of the Resolutions adopted at the commission's Meetings and other issues in accordance with the Order on the State Tender Commission and legislation.
  • In case of absence of a Winner upon the results of Tender or Auction Sales, - making decisions on Sales of State-Owned Assets via other modes of Sale  (Exchange Sales or in way of conducting the Direct Negotiations with Potential Investors);
  • making decisions on Sales of the Sites and Stocks (Shares), including the Combined Forms of Payment both in Free Convertible (FCC) or National Currencies as well as on the account of Supplies of the Modern Technological Equipment on condition of acceptance by an Investor of the concrete Investment Obligations in FCC
  • making decisions on approval of the Lists of the State-Owned Unprofitable, Loss Suffering, Economically Unsustainable Enterprises and Low-Liquidity Sites subject to Sales at "Zero" Purchase Price as well as the terms for their Sales with acceptance of Investment Obligations by the Investors;
  • issue the conclusions on Privatization of the Strategic Enterprises as well as Enterprises having received International Loans under the Guarantee by the Government  for their further presentation to the Cabinet of Ministers;
  • agreeing over the Sales to Strategic Investors of the State-Owned Assets at the Light Industry Enterprises at presence of conclusions issued by the Expert Commission  of the State Joint Stock Company "UzbekYengilSanoat"  made upon the Business Plans on Modernization and Technical Re-Equipment of Production providing the deep processing of the raw-material and increase in exports of finished products;
  • The Commission, in case of a Sale of the State-Owned Property to the First-Class Strategic Investors in exchange for their Investment Obligations related to further development of an Enterprise, is also entitled to adopt Resolutions on presenting to the Cabinet of Ministers the Proposals on:
  • increase of the State-Owned Share subject to Sale up to the Control Stocks' Package or an Enterprise as a whole, under condition of acceptance by an Investor of the Additional Obligations  on the entire pay-off of an Enterprise's debts on the Bank Loans, including the International ones received under the Guarantee by the Government of the Republic of Uzbekistan;
  • partial or complete restructuring of debts of an Enterprise subject to privatization concerning the Bank Loans, including the International ones received under the Guarantee by the Government of the Republic of Uzbekistan.

 

IV. Organization of the Work done by the Inter-Institutional Work Groups (hereinafter referred to as "the Work Groups")

 

4.1. The Inter-Institutional Work Groups are created by decision of the State Tender Commission depended to Enterprises' affiliation to Industry Branches and consist of the responsible officials of the Cabinet of Ministers, Ministries of Finance, Justice, Economy, of Foreign Economic Relations, Investments and Trade, State Property Committee as well as representatives of the according Industry Branches and Enterprises.

The Work Groups are chaired by the Heads of the according Branch Complexes of the Cabinet of Ministers. The personal membership of the Work Groups is approved by decision of the Commission. The work-plan of a Work Group is approved by the Head of that Group

4.2. The main functions of the Work Groups are:

  • preparation of all the initial information on technical and economic parameters, future development prospects of Enterprises on basis of the materials presented by the State Property Committee;
  • participation in elaboration of the Terms of References for the Mediators involved into Organization of Tenders;
  • presenting to the Labour Body of the Commission their proposals on Terms and Forms of Sales of the State-Owned Assets, determination of their Sale Prices, way of Evaluation of the Investment Proposals, criteria for a Winner's selection, order and terms of Payments;
  • arrangement of familiarization of the Potential Investors with Enterprises subject to Privatization;
  • performance of Expert Evaluation and preparation of a Conclusion on Investment Proposals received from Investors.

 

4.3. The Head of the Work Group is obliged to participate at meetings of at the Commission's meetings during discussions over forms of a Sale of State-Owned Assets in the Enterprises subject to Privatization as well as during consideration of Investors' Proposals related to sales of the Enterprises under their supervision.

 

4.4. Meetings of a Work Group are held depended to the necessity of preparation of the materials to be presented to a Meeting of the State Tender Commission upon the request by the Labour Body or a decision made by the Head of a Work Group.  Meetings of a Work Group are considered valid at participation of the not less than three-fourth of its members.

Resolutions of a Work Group meetings shall be formed into Minutes to be signed by all its Members, having participated at that meeting, and approved by the Head of that Group. Resolutions are adopted by a simple majority of votes of a Work Group's members present at a meeting. In case of equality of votes, the vote by the Head of a Work Group is considered decisive.

 

4.5. At Meetings of the Inter-Institutional Work Groups the following Issues are to be considered:

  • information on the Pre-Sale Preparation of Objects including technical and economical parameters, development prospects, Preparation and Conduct of Tenders for Sales of the State-Owned Assets of Enterprises  in accordance with Governmental Programs on Denationalization and Privatization;
  • agreeing over the time-tables and measures on raising the Enterprises' Investment Attractiveness within the framework of their Pre-Sale Preparation, hearing management reports on their fulfillment;
  • proposals on drafts of the Tender Documentation presented for consideration including Sales' Terms for Privatization Objects, Stocks' Packages, their Sale Price, Criteria for Evaluation of the Investment Obligations, Order and Terms of Payment, selection of a Winner;
  • Expert Evaluation of the received Tender Proposals and other issues related to preparation of materials for the State Tender Commission's Meetings.
  • issues of Privatization of Strategic Enterprises as well as Enterprises having received international loans under the Guarantee of the Government of the Republic of Uzbekistan;
  • proposals on Sale to Strategic Investors of the State-Owned Assets  at the Light Industry Enterprises  on basis of conclusions issued by the Expert Commission of the State Joint Stock Company "UzbekYengilSanoat";
  • Terms of Sales in the Secondary Securities' Market performed by Joint Stock and Holding Companies of the State-Owned Assets previously passed to them for shaping their Charter Funds;   
V. Prerogatives of the Labour Body of the State Tender Commission

5.1. The Labour Body of the State Tender Commission (i.e. the State Property Committee):

  • solves all organizational issues on holding Meetings of the State Tender Commission;
  • elaborates time-tables and measures on Conduct of Tenders for Sales of Privatization Objects to Investors;
  • prepares the Tender Documentation;
  • carries out collection of the received Proposals and arranges their Expert Evaluation, conducts pre-contract negotiations with Winners of the Tenders (of separate stages of Tenders) for Sale-Purchase of the State-Owned Assets;
  • concludes contracts with a Winner of a Tender, performs monitoring over the process of implementation of its Obligations and dissolves contracts in case of their non-fulfillment;
  • performs monitoring over the process of sales of Enterprises and Sites as well as over implementation of Investment Obligations by Investors, hears accounting reports of ministries, institutions, heads of   Economic Subjects on their work on Denationalization and Privatization of the State-Owned Assets and prepares information for Meetings of the State Tender Commission;
  • prepares draft reports on activity of the State Tender Commission;
  • presents to the Chairman of the State Tender Commission proposals on the Agenda of the Commission's Meetings and drafts of the necessary documents on their conduct.
  • by consent of the Commission's Chairman sends to Members of the State Tender Commission, in accordance with the approved Regulations of Work, drafts of Tender Documentation, Agenda and Minutes of a Meeting,   Information Analytical material on each issue (including on an Enterprise's Valuation, Equipment and other necessary documents).
  • legalizes Minutes of Meetings of the State Tender Commission, runs the paperwork, carries out recording, classification of correspondence and provides maintenance of the Commission's documents.

 

VI. Procedure of approval of a List of Enterprises and Sites subject for Sale at "Zero" Purchase Price

6.1. Upon presentation by Regional Competition Commissions, the State Property Committee together with the Antimonopoly Committee, in coordination with the State Tax Committee and the according Branch Complexes of the Cabinet of Ministers, fourteen days prior to the date of the State Tender Commission's Meeting, determines the Terms  in part of setting the minimal size of Investment Obligations and periods for bringing the Investments related to Enterprises subject for Sale at "Zero" Purchase Price and presents them to the Commission.

6.2. In respect of each Enterprise a package of documents shall be formed in in the established order.

6.3. The Labour Body, three days prior to a Meeting of the State Tender Commission, sends to the Commission's Members  the List of those Enterprises and Sites together with a draft Minute.

6.4. The State Tender Commission at its Meetings approves the List of those Enterprises.

6.5. The Labour Body places in the established order an Announcement in the central Republican press and other kinds of mass media on the List of Enterprises approved and the beginning of the Competition Sales.

The State Property Committee's regional offices place the according announcements at their local mass media.

6.7. In case of absence of a Winner upon the results of Competition Sales for Enterprises subject for Sale at "Zero" Purchase Price, the State Tender Commission may determine some other way of a Sale (direct negotiations of the State Property Committee with an Investor with consequent approval of the results by the Commission).

 

VII. Procedure of Conduct of a Tender for Sales of State-Owned Assets to Foreign Investors

7.1. Announcement of a Tender shall be done by the Labour Body in accordance with the time-table for the Tender's Conduct.

7.2. Deadlines (dates) for presentation of the Tender Proposals shall be reflected within the contents of the Tender Documentation.

7.3. Opening of the sealed packages containing the Tender Proposals shall be carried out by the Labour Body with participation of representatives of the Ministry of Economy, Ministry of Justice and the according Branch Association within the periods set up by the Terms of Tender Documentation  and is legalized by the proper Minutes on the Opening and Contents of Tender Documentation.

7.4. A Work Group within the period of not less than ten days considers the received Proposals, performs their Expert Evaluation and presents its proposals to the Labour Body;

7.6. The Labour Body with taking into consideration the conclusion of an Inter-Institution Work Group, within the three days period, enters a conclusion on Sale to Investors of a State-Owned Asset, into a draft Minutes of the next Meeting of the State Tender Commission.

 

VIII. Account Reports of the State Tender Commission

8.1. Drafts of the Account Reports of the State Tender Commission shall be prepared by the Labour Body and presented to the Chairman of the Commission not later than the fifth day of a month following a Quarter of a Year subject for Account.

8.2. Approval of the Account Reports shall be done by  the Chairman of the State Tender Commission.    

Last Updated on Saturday, 20 October 2012 18:51
 
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НОВЫЙ САЙТ (Тестовая версия)

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Оценка деловой среды

Опрос 1. Как Вы оцениваете созданную в республике деловую среду?

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The voting for this poll has ended on: 31 Jul 2014 - 00:00
Оценка деловой среды

Опрос 2. Какие факторы сдерживают развитие предпринимательской деятельности?

Высокое налоговое бремя .
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