The order of the control of shares in limited liability companies which are located in the Republic of Tatarstan and were created in the privatization process, is approved

Resolution of the Cabinet of the Republic of Tatarstan from 24.03.2016 № 167 approved the procedure of control of shares in limited liability companies which are located in the Republic of Tatarstan and were created in the privatization process.

This procedure is designed in accordance with paragraph 3 of Article 19 of the Law of the Republic of Tatarstan dated July 26, 2004 № 43-ZRT "About privatization of the state property of the Republic of Tatarstan" and regulates the management, shares in limited liability companies which are owned by the Republic of Tatarstan and were created in the process of privatization.

In accordance with the Resolution the rights of participant of a limited liability company, the share in the authorized capital of which is owned by the Republic of Tatarstan, has the Ministry of Land and Property of the Republic of Tatarstan which one is acting on behalf of the Republic of Tatarstan.

In accordance with the approved procedures the Ministry of land and property of the Republic of Tatarstan carries entering items into the agenda of the general meeting, the nomination of candidates for appointment as a sole executive body of the company, and required to hold an extraordinary general meeting, the convening of an extraordinary general meeting and the appointment of a representative (power of attorney) to vote on general meeting.

Position of the Republic of Tatarstan as a participant on the agenda of the general meeting is reflected in the guidelines issued by the Ministry to the representative of the Republic of Tatarstan in order to vote at the general meeting. The said representative acts on the basis of directives and powers of attorney given by the Ministry of land and property of the Republic of Tatarstan.

The rights of the Republic of Tatarstan as a participant are exercised by the Ministry of land and property of the Republic of Tatarstan on the basis of proposals of executive authority of the Republic of Tatarstan, exercising control in the sphere of activity of the limited liability companies.