Article 22. Status of a leased enterprise

The enterprise acquires the status of a lease after signing the lease agreement, approving the charter by the general meeting (conferences). The charter of a leased enterprise (except for leased enterprises based on state ownership) should provide for property liability of members of the lease collective for the debts of the enterprise.

The organization, activity and liquidation of a leased enterprise are regulated by the Law on Enterprises in the Republic of Uzbekistan and other legislative acts of the Republic of Uzbekistan.

A leased enterprise acquires the rights of a legal entity from the day of its state registration and acceptance of the property of the enterprise in the established manner.

When a state enterprise is leased, it is reorganized in the manner prescribed by the legislation of the Republic of Uzbekistan.

The economic activity of the leased enterprise is carried out by the lessee independently. Outside of fulfillment of obligations under a lease, the tenant is completely free to manage his business activities. The intervention of the lessor in the activities of the rental enterprise, the requirements for the submission of plans, reports and other information that is not provided for by the legislation of the Republic of Uzbekistan and the contract, is not allowed.

Management of a leased enterprise is carried out in accordance with the Law of the Republic of Uzbekistan “On enterprises in the Republic of Uzbekistan” and the charter.