Cabinet of Ministers Regulations No. 360 (No. 62, § 17) 1995 in Riga on November 21, a non-profit organisation State joint stock company "Latvian development agency" Statute Issued in accordance with the constitutional procedure laid down in article 81 of Cabinet of Ministers issued on 18th July 1995. Regulations No 203 "Latvian development agency" i. General questions 1. Non-profit organisation State joint stock company "Latvian development agency" (hereinafter: "the Agency") is a public limited company that operates in accordance with the principles of the non-profit organization and which all belong to the State capital.
2. full name of the Agency — a non-profit organisation State joint stock company "Latvian development agency", short name — the Latvian development agency.
3. the Agency shall act in accordance with the laws, Cabinet of Ministers regulations and these statutes.
4. the Agency's founder is the State in the person of the Cabinet.
5. the objective of the activities of the Agency are in accordance with the constitutional procedure laid down in article 81 of Cabinet of Ministers issued in 1995 on July 18, the provisions of no. 203 "Latvian development agency" (Latvian journal, 1995, nr. 109) to promote economic development, attracting foreign investment, promoting exports and suggesting proposals attract investment and export promotion projects, as well as their competence to represent the country in international projects.
6. the Agency's main activities are: 6.1. provide informational and consultative services to foreign and local businesses and public authorities;
6.2. perform publishing, to issue the kartogrāfisko materials;
6.3. provide mediation services, also make the product manufacturer and service provider representation functions;
6.4. to facilitate trade activities, and also to carry out its other producers or the mandate of the Commission contract;
6.5. to organize trade missions, business days, seminars and exhibitions;
6.6. to develop the economic and regional development projects to attract funding and realize these projects;
6.7. develop business investment, business and marketing plans (projects).
7. the Agency shall, in addition to the main lines of action performs the following functions: 7.1. foreign investment project economic analysis;
7.2. the law "on foreign investments in the Republic of Latvia (Republic of Latvia Supreme Council and Government Informant, 1991, no. 46;/11.nr.; 1993, 10. Latvian journal, 1994, nr. 75; 1995, nr. 47) 5. in the cases referred to in article accepts applications for foreign investors, and 6. the cases referred to in article 1 shall authorise the foreign investment;
7.3. assess the impact of foreign investment on product competitiveness of Latvia and foreign capital to a possible lead in the economy of Latvia;
7.4. monitor that foreign investors will not get control over companies doing business in the sectors covered by the law "on foreign investments in the Republic of Latvia" restrictions;
7.5. analyse the impact of foreign investments to the economy of Latvia, paying special attention to the following areas: 7.5.1. creating new jobs;
7.5.2. local processing of raw materials and services;
7.5.3. the export of local products;
7.5.4. the development of local technologies, advanced technologies, and improving the quality of production;
7.5.5. competition in the sector concerned;
7.6. the introduction and serving the strategic goods, products, services and technologies for export, import and transit control system;
7.7. carrying out other acts, Cabinet legislation and the statutes of the Agency tasks to attract foreign investments and export promotion;
7.8. the development proposals in territorial investment position of the country, as well as prepare and analyse public investment projects;
7.9. the administration of the property or possession of the real property;
7.10. disseminate information abroad about the Latvian economy.
8. the Agency shall have the right to: 8.1. create their own representations and branches in Latvia and abroad the functions provided for in these statutes;
8.2. get the parts the company share capital;
8.3. to invest in public securities issued;
8.4. to carry out an economic activity that is not in conflict with the law, other legislation and the statutes;
8.5. to request and receive, free of charge from the State and municipal institutions, State companies, public companies, State Governors of the Statistics Committee, the national property Fund, the Privatisation Agency and the business register information related to foreign investment and exports, imports and transit;
5.3. invite experts and to conclude contracts with them, to carry out the Agency's activity tasks.
9. The Agency has legal personality, and it has its own balance and settlement accounts.
10. the Agency has its own property, it can get the property in its own name and personal property rights and not to assume obligations, it may be a plaintiff and defendant in court or in arbitration and in accordance with its purposes and functions to do business in the territory of the Republic of Latvia and abroad.
11. the Agency is liable for its obligations with all property belonging thereto, to which under the law can draw power.
12. the Agency shall have a seal with the emblem and name of the Agency.
13. The law "on joint stock companies" (the Republic of Latvia Supreme Council and Government Informant, 1993, 24/25.nr.; Latvian journal, 1994, 96, no. 149; 1995, no. 6) and provided for in these statutes, the Agency placed advertisements in the newspaper "journal".
14. the Agency For the disclosure of sensitive information to its employees and to answer other legislation.
15. the Agency's legal address: Pērs Street 2, Riga, LV-1442, the Republic of Latvia.
 
 
II. capital and reserves of the Agency 16. the Agency's formation capital is 250000 lats, which is divided into 250 ordinary shares. The nominal value of each share is of 1000 lats.
17. the Agency's registered capital is 250000 dollars.
18. The Cabinet of Ministers with your order, you can increase or decrease the share capital of the Agency, respectively, by amending these statutes. These amendments to the statutes, the Management Board of the Agency should be recorded in the register of companies.
19. If the Agency's capital increase, bringing with it the additional capital, the cabinet order may invest only in the country.
20. If the share capital increase, with the involvement of additional capital, and pay for the shares, investing in physical things, contribution should be evaluated, and must be drawn up and published in the expert opinion of the law "on joint stock companies".
21. If the share capital is increased by the Agency, part of the capital accumulated in the Agency by transforming its share capital, share capital should be included in the Agency's it agency property part, which after a year of the balance sheet or exceptional approval of the balance sheet exceeds the amount of the share capital.
22. By order of the Cabinet of Ministers, the Agency may reduce its share capital by reducing the nominal value of each share.
23. Share capital reduction rules after their registration in the business register to be published in the law "on joint stock companies".
24. Reducing the principal, the Agency must respect these statutes laid down in chapter XI of the conditions for the protection of the interests of the creditor, if the Agency is abolished.
25. the Agency's income over expenditure excess must be placed in a reserve (Reserve Fund), which advances to the next financial year. This amount is not subject to corporate income tax, and cannot be removed or added into the State budget.
Reserve (Reserve Fund) funds only used this Statute, 5, 6 and 7 above for the implementation of the objectives and targets.
26. other capital and provisions the Agency is not allowed.
27. the Agency is not empowered to make donations, loans and guarantees.
28. the Agency may omit the bonds. The first bond issue, the Agency may only be exercised after a two year review approval.
29. the total value of the bonds must not exceed 20 percent of the share capital of the Agency at the time of release of bonds. The order of the bond issue, the Cabinet of Ministers adopted.
 
 
III. Office of the Agency 30. the Agency's governing body is the general meeting of shareholders, the Board and the Management Board.
31. the functions of the general meeting of shareholders of a public trustee (hereinafter "the trustee").
 
 
IV. Trustee 32. According to the law "On State and local property management companies" (the Republic of Latvia Supreme Council and Government Informant, 1992, no. 26) trustee functions to fulfil the Agency's Council Chairman, who is the Minister of the economy.
33. only trustee, performing the functions of the general meeting of shareholders shall have the right: to examine the Agency's 33.1. Council and Agency Board reports and to confirm the Agency's annual report;
33.2. to release the members of the Management Board of the Agency for the previous year;
33.3. following the proposal of the Management Board of the Agency to approve the Agency's current annual activity plan and the estimated costs;
20.8. in accordance with the Agency's Council announced the results of open competition to close the Cabinet's work on behalf of the Director-General of the Agency the contract;

20.8. to appoint and relieve of Office of the members of the Management Board of the Agency (other than the Director-General) and the Chartered Auditors and the Agency to rule on a claim or complaint brought against them or termination;
20.9. to approve the Agency's Administrative Board submitted an additional earned income activity spending plans;
20.9. to appoint a Special Commission to increase in value of property or for the detection of reduction, as well as to approve the Commission's current assessment;
33.8. to take a decision on the representation of the agency or Foundation or closure of branches.
34. The trustee is entitled to submit to the Cabinet a draft legislation for: 34.1. the amendment of the articles of the Agency;
21.3. increase or reduction of share capital;
21.3. the Agency's output and the marketing of bonds;
21.4. the liquidation of the Agency;
34.5. appointment of the members of the Administrative Board or termination of Office.
35. the decisions taken by the Governor must be in writing.
36. The Cabinet of Ministers may cancel the trustee's decisions if they do not comply with the law and other legal requirements.
37. The trustee did not carry out the operational management of the Agency and shut down in the name of the agency business.
38. The Governor may not be a member of the Board of the Agency and the Council of experts.
39. by order of the Prime Minister can ask the other person for the time to perform the functions of the Agency, the Governor if the Governor is sick, busy, prolonged absence or other cause is unable to perform his functions.
 
 
V. Council of the Agency the Agency's Council 40. the activities of the Agency and within the limits set out in these statutes shall control the Management Board of the Agency's activities.
41. the Agency is composed of the Council of economic ministers and three cabinet members after the Minister approves the recommendation of the Cabinet of Ministers, as well as the Director-General of the privatisation Agency, the Latvian Chamber of Commerce and industry President and three economic Ministers invited representatives of the company.
42. the Board of the Agency may not be a member of the Board of the Agency, of the Expert Council member and certified auditor of the Agency.
43. the Board of the Agency two weeks after his appointment, notify the trustee in writing, under which businesses or companies, State or municipal institutions, organizations or institutions, he is working on. In this same period the Agency's Board of Governors must be communicated in writing to the company or companies in which they own the companies they own shares in companies he is and how the Board of directors or a member of the Council. This same news agency Council Member provided for spouses.
44. the members of the Board of the Agency (including governors), which is also a member of the Cabinet of Ministers, the Council is composed of up to the Cabinet's term of Office. If the Cabinet member resigns, Prime Minister nominated by another Member of the Cabinet of Ministers for approval by the Cabinet of Ministers of the Council of the Agency.
45. each year, the Cabinet of Ministers, subject to the prescribed number of members of the Administrative Board, you can replace the representatives in the Council of the Agency.
46. the Board of the Agency may not outsource your duties to another person.
47. members of the Board of the Agency, in accordance with the constitutional procedure laid down in article 81 of Cabinet of Ministers issued on 18th July 1995. Regulations No 203 "Latvian development agency" invites the Minister of Economic Affairs, he as the trustee may at any time be removed from Office. Releasing the Agency's Board of Governors, at a time to decide the issue of the appropriate member of the Board of the agency discharge for the last year.
48. the Board of the Agency may at any time submit a request to release him from the duties assigned. In this case, the Member of the Board of the Agency of his duties and responsibilities of the Governor release, notifying the Cabinet.
49. the Council on changes to the Agency's members must be notified to the Registrar of companies, and this change is effective with the date of registration in the register of companies.
50. the Council of members of the Agency members of the Council elected Deputy Chairman of the Council of the Agency. The Agency's Deputy Chairman of the Council shall perform the duties of the President of the Council of the Agency of the President of the Council is only prolonged absence (illness, a business trip, leave) or on his behalf.
51. the tasks of the Administrative Board: 51.1. constantly control the activities of the Management Board of the Agency and ensure that the Agency's documentation is organized in accordance with the laws and other legal acts;
51.2. the Management Board of the Agency to verify the submitted expenditure;
51.3. the Agency's annual report;
51.4. the proposal of the Management Board of the Agency to approve the appointment of the expert members of the Council;
51.5. give an opinion, if the Governor proposed the dismissal of the Director-General of the Office.
52. the Council of the Agency shall have the right at any time to request the Management Board of the agency review of the Agency's activities. The Board of the Agency may inspect the records and documents of the Agency, as well as that, securities and other property. The Administrative Board may entrust the examination of one of the members of the Council of the agency or individual questions to ask to find out a guest expert.
53. Two times a year, the Council shall submit to the Agency the Cabinet report assessing the functioning of the Agency and the Agency's Management Board report, as well as make suggestions to improve the operation of the Agency.
54. the Agency's Council meetings shall be convened by the President of the Council, but not less frequently than once every three months. Each Member of the Council of the Agency, as well as the Management Board of the Agency shall have the right to request the convening of the meeting of the Council by reason of the need for convening the meeting.
55. the Council of the Agency are valid if they participate in the hearing not less than two-thirds of the members of the Council of the Agency.
56. the Agency Board decisions shall be taken by a simple majority. If a member of the Council of the Agency does not agree with the decision of the Administrative Board and vote against it, he is not responsible for the decisions taken. The Agency's Board members in individual thought to be entered in the Council minutes of the hearing. Minutes of meetings of the Administrative Board shall be signed by all the members of the Council present at the meeting.
57. If the interests of the Agency the Agency's contact with a member of the Council or his or her spouse's interest in the matter, where the question by the interested Board member must not participate in, and it celebrated the Council meeting minutes. Members of the Board of the Agency, which violates these terms, are responsible for the State and the damage caused to the Agency.
58. the Council of the Agency do not have the right to decide issues that are within the competence of the Management Board of the Agency.
 
 
Vi. The Management Board of the Agency and the Director-General of the Agency Board 59. is the Director-General and four members of the Management Board, on a proposal from the Director-General shall be appointed by the Governor.
60. the activities of the Management Board of the Agency is headed by a Director-General, who shall determine the duties of the members of the Executive Board. The Director General of the Agency are binding on all members of the Management Board may extend limitations and conditions for the liability of the members of the Executive Board.
61. The Director-General in accordance with the Agency's Council announced the results of open competition post approved by the Cabinet of Ministers.
62. The Management Board of the Agency: responsible for all Agency 62.1. Economic and financial activity, as well as the sort of accounting;
62.2. represent the Agency in matters which do not represent the Governor and the Council of the Agency;
38.7. managing the Agency's belongings and proceed with the funds of the Agency in accordance with the law, other legislation and the statutes;
38.8. all activities of the Agency decides issues except those that contain only the Governor and the Council of the Agency;
62.5. draw up and submit to the Governor for the Agency's annual activity plan and the estimated costs, as well as the annual report;
38.9. determine the Agency's departments, branches and representations of functions and responsibilities, as well as approve the regulations.
63. The Management Board of the Agency shall be entitled: 39.2. creation of permanent or temporary Commission for clarification of certain issues or to control and fix this Commission members pay. Following the Commission's work under the direction of the Board;
39.3. approve the Agency's employee wage and material incentive rules.
64. the Agency's Management Board shall be appointed for a period not longer than three years. The Agency's Management Board may be reappointed for a new term.
65. contracts and other financial documents signed by the Director-General or his authorized agency Board member.
66. Bank and cash documents in accordance with the laws and other legal acts and the Director-General of the Agency's signature Board authorized persons.
67. any changes in the composition of the Management Board of the Agency, as well as changes to the signature of the members of the Executive Board of the law shall enter into force only after being registered in the register of companies.
68. The Management Board of the Agency shall be responsible for the Agency's compliance with the expenditure estimates that each year, approved by the Governor.

69. If the interests of the Agency is faced with one of the members of the Management Board of the agency or his or her spouse's interest in the matter, where the question by the interested Board member must not participate in, and it celebrated Agency Board meeting minutes. The Agency's Board members who violate these conditions, are responsible for the State and the damage caused to the Agency.
70. the Agency's Board meeting shall be convened by the Director General, but not less frequently than every two weeks.
71. the Agency's Board meeting, where they are full members of at least three members of the Board.
72. Each member of the Management Board of the Agency Board meeting shall have one vote. The Management Board of the Agency shall take decisions by a simple majority. If the votes are divided into similar, the Director-General shall have a casting vote.
73. If a member of the Board of the Agency does not agree with the decision of the Board and vote against it, he is not responsible for the decisions taken. The members of the Management Board of the Agency of the individual mind to record the minutes of the Board.
74. the Agency's Board meeting Protocol, it should be noted, as the matter concerned has been voted by each of the Board members present.
75. the Agency's Board meeting minutes shall be signed by all Board members present at the hearing.
76. The Director-General may, at any time, the Management Board of the Agency suspended from duties entrusted to him. Member of the Board of the Agency may request from the Agency reimbursement of the damage he suffered due to the suspension or removal from Office, if it was not justified. After the Agency's Director-General on the recommendation of the Council must censure the Member of the Management Board of the Agency of the duties entrusted to him, if the Board committed a gross misconduct. Member of the Board of the Agency may at any time request to release him from the job.
77. The decision on the termination of Office of the Director-General shall be adopted by the Cabinet of Ministers of the Council of the proposal by the Agency.
78. the Board of the Agency should be about another company or companies or member of the Executive Council only if the Management Board of the Agency adopted its decision.
79. the Executive Board of the Agency can only make pedagogical, scientific or other creative paid work, except that the members of the Management Board and the Director-General's duties shall be determined by laws or other legislation.
80. The Director-General and the members of the Management Board of the Agency two weeks after his appointment, notify the trustee in writing, any enterprises or companies they own, what companies they own shares in companies they and what is the Council or members of the Management Board, as well as State or municipal governors. The News Agency's Board members must provide for their spouses.
81. One month from the date on which the Director General or a member of the Board of the Agency is appointed, he should leave the post of Board members in other companies, and the establishment of the appropriate marks.
82. the Agency's operational management is carried out by the Director-General. The Director-General on behalf of the Agency: the Agency's interests represented 82.1. State and local government institutions, as well as in other institutions and organizations, enterprises and institutions;
82.2. the Agency handled property and funds;
82.3. switch economic and labour agreements (contracts);
82.4. issue;
82.5. current accounts opened in the bank and other accounts;
82.6. Agency staff confirmed and the establishment plan;
82.7. determines the Agency's staff salaries;
issue orders and 82.8. instructs in matters within his remit and is mandatory for all staff of the Agency;
82.9. the labour code of Latvia in accordance with the procedure laid down in the recruiting and dismissal of employees of the Agency.
83. The Management Board of the Agency shall provide the Agency's quarterly report to the Council on its activities, but at the end of the year, the Governing Board shall provide such reports to the Governors.
84. The Director-General to inform the trustee of any significant (more than 5000) agency funds, if it has not been approved in the budget of the Agency.
85. If the Agency and the Council of the members of the Management Board of the Agency is acting illegally, violating its mandate or not complying with the law, other legal acts and this Statute or act negligently or intentionally misused for a State Agency and the vendors damage they are responsible to the extent of their offence with all his property.
 
 
VII. the Expert Council 86. Council of experts is an advisory body whose members — experts — by the Agency's Management Board shall carry out the tasks of foreign investment attraction and export promotion effectiveness analysis, as well as proposals in the Agency's strategic plan.
87. The Management Board of the Agency shall, within two months from the date of registration of the Agency shall submit to the Council a proposal relating to the expert levels and expert personnel, as well as the amount of remuneration and the cost of the order.
88. the expert members of the Council on a proposal from the Executive Board, by the Agency, approve the Agency's Board.
89. the expert work of the members of the Council are organized meetings of the Expert Council, sections, groups and individual work in accordance with the regulations of the Board of the Agency.
90. the expert and the Board of the Agency for the regulation of the contract.
91. the Council of the Agency after the proposal of the Board of the Agency may, at any time, release a member of the Council of experts of the duties entrusted to him, if he systematically fails to discharge these obligations or his professional knowledge is not sufficient to carry out these obligations, as well as if he uses his expert status selfish interests.
92. the expert member of the Council may at any time submit a request to release him from the duties assigned. In this case, the Expert Council member from his Office released the Agency's Board.
93. the Expert Council member two weeks after his appointment, notify in writing to the Management Board of the Agency, which companies (company) owns and which companies he is a Board member.
 
 
VIII. Organization of the work of the Agency, media and their use in 94. the Agency its activities implemented in accordance with the objectives set out in these statutes and activities. Organization of the work of the agency determines the Board approved the Agency's internal rules.
95. the Agency shall carry out the laws and other legislative requirements job safety, health and environmental protection, as well as in the field of human security, emergency and natural disaster cases and other areas set out in the law "on business" (Republic of Latvia Supreme Council and Government Informant, 1990, no. 42;/28.nr.; 27, 1991, 1992, 1993, 22 3/23.nr.;./4, 12/13, 22/23.nr.; Latvian journal, 1994, 29., no. 77; 1995, nr. 59).
96. the labour relations agency governed by the labour code of Latvia. The Agency cannot work together in the persons who are close relatives (counting up to the third degree of kinship and affinity to the second degree), if they are exposed to the common work of one another or directly control each other.
97. the Agency's staff wage and material stimulus rules determined by the Governing Board of the Agency approved regulations.
98. the Agency officials have the Director-General, members of the Management Board of the Agency, Department managers, as well as those employees whose competence includes decision-making. The Agency's list of employees who are recognizable as officials confirm the Governor.
99. the Agency's finance form the deductions prescribed by the Cabinet of Ministers, in accordance with the law on budget and financial management "(Latvian journal, 1994, nr. 41), the fee for the services rendered revenue from economic activities, the Fund channeled funds to attract foreign investments and export promotion, donations, as well as foreign technical assistance and other means.
100. the Agency's additional activities use income gained suggests the Agency's Management Board, but the spending plan approved by the Governor.
 
 
IX. annual report of the Agency the Agency shall organise accounting 101. sorting and statistical tracking, and shall draw up and submit annual reports in accordance with the law "on accounting" (the Republic of Latvia Supreme Council and Government Informant, 1992, no. 44; Latvian journal, 1994, 149. No.) and the law "on the annual accounts" (the Republic of Latvia Supreme Council and Government Informant, 1992, no. 44; Latvian journal, 1995, nr. 34) requirements. For the sort of accounting is responsible for the Agency's Management Board.
102. the Agency's report includes 12 months a year, and it coincides with the calendar year. For each financial year, the Agency shall draw up the Agency's annual report, which is a unified whole, and which is the balance sheet, profit and loss account and annex.
103. After the Governor approved the annual report of the activities of the Agency, the Agency's excess of income over expenditure must be placed in a reserve (Reserve Fund).
104. No later than one month after its approval of the annual report and not later than four months after the end of the reference year to be sent to the Agency (at that location) for the State revenue service, the State Statistics Committee and the Registrar of companies approved the activities of the Agency a copy of the annual report and Auditor's opinion of the jury, which also indicates when the report was approved.

105. the Agency's balance sheet and a profit and loss statement published in the newspaper "journal".
 
 
X. activities of the Agency monitoring and auditing of 106. the Agency is controlled by a sworn auditor of the agency or auditor (hereafter referred to as "sworn auditor") and the trustee set up permanent or temporary commissions in certain matters, as well as the control of the authorized State institutions.
107. Certified Auditor appointed by the trustee each year.
108. A sworn auditor examined the activities of the Agency during the year and works up to the current annual report of the activities of the Agency for approval.
109. the certified auditor may be proficient, which got a sworn auditor in accordance with the law "on sworn auditors" (Latvian journal, 1995, no. 135). About the certified auditor may be appointed only a person with the Agency have no business communication and which do not work in the Agency. For sworn auditors may not be the person to whom the Agency's Management Board or chief accounting officer is up to the third degree of kinship and affinity to the second degree. The proxy shall have the right, if necessary, appoint another certified auditor.
110. immediately after the Agency's annual report to the Management Board of the Agency should be notified to the sworn auditor that the Agency's annual report has been prepared, the register concluded and documents available for inspection. After the sworn auditor's receipt of the opinion of the Agency's annual report for the review and approval of the Administrative Board. Then this report for the previous year, the Agency's activities and subsequent activities is submitted to the Cabinet.
111. A sworn auditor has the right to view and audit all Agency goods and to check the Agency's financial and economic activities. Sworn auditor has the right at any time to take immediate control and inspection measures.
112. A sworn auditor must report to the Governor and the Council of the Agency on the Agency's Board and its work in the departments identified shortcomings and violations.
113. Concerning the audit of the sworn auditor in accordance with the law "on the annual accounts of companies ' requirements, which report shall be drawn up by the Management Board of the Agency, together with its opinion and the activities of the Agency shall submit an annual report to the Governor.
114. A sworn auditor carries out its activities in accordance with the laws and other legal acts.
115. A sworn auditor is responsible for the Agency and third parties for losses incurred, if he knowingly or negligently has not fulfilled his duties. He is responsible for the Agency's Board and its subordinate departments, except for the cases when he was aware of these cases but has not informed the Board of Governors or the Agency.
 
 
XI. termination by the Agency the Agency eliminates 116.: 116.1. by order of the Cabinet of Ministers;
116.2. with the Court ruling.
117. the liquidation of the Agency implemented the proxy appointed liquidators. With the appointment of a liquidator of the members of the Management Board of the Agency the power to terminate. The Governor appointed the liquidators can cancel at any time.
118. The liquidator in the winding up of the Agency shall be made to the law "on entrepreneurship", "on the non-profit organization" (Republic of Latvia Supreme Council and Government Informant, 1992, 6./7.nr.; Latvian journal, 1995, nr. 5) and the law "on joint stock companies".
119. If the Agency is liquidated or reorganized for profit company, reserve funds and assets acquired on the accumulated funds, over the public domain.
120. the liquidator shall apply to the operation of the same conditions applicable to the operation of the Agency's Management Board.
121. The liquidator within the Governors to report on their activities, but after the completion of the liquidation, the Agency — and the record of all its activities at the time of winding up the Agency.
122. the Agency's liquidator shall be jointly and severally liable to the Agency, the State assets and creditors for losses incurred, if they intentionally or negligently not fulfilled in accordance with the law "On joint stock companies" and the obligations placed upon these terms of reference.
123. the Agency end its activities in the day when it is turned off from the register of companies.
Prime Minister m. cock economic Minister j. caller