Article 23. Privatization of state-owned property through competitive dialogue

In order to determine the most optimal way of realization of the given property at privatization of the state property, in cases market conditions, commodity and financial requirements, and investment project targets are unclear, the sale of state-owned property shall be carried out through a competitive dialogue.

The notification of the invitation to a competitive dialogue shall be published in accordance with Article 35 of this Law. At the same time, the initial price of state-owned property shall not be disclosed.

The text of the notification of the invitation to a competitive dialogue shall not provide for requirements that are not related to the subject of the competitive dialogue, as well as conditions, criteria and requirements for applicants for the privatization of state property.

The Authorized government body shall conduct separate negotiations with each of the participants in the competitive dialogue who submitted their proposals, and may additionally discuss certain aspects of the privatization of state-owned property with all participants in the competitive dialogue.

The Authorized government body shall have the right to involve professional consultants at all stages of the privatization of state-owned property through a competitive dialogue.

The course and results of the negotiations shall be formalized in a protocol.

Based on the proposals submitted during the negotiations and their results, the conditions and criteria for bidding, instructions for bidding for applicants, and a draft contract for the purchase and sale of privatized state-owned property shall be prepared.

The Authorized government body shall send a notification to the participants who submitted proposals on the provision of a binding price offer for the privatization of state property, as well as, if available, certain conditions for the use of state property.

The deadline for submitting proposals by participants may not exceed sixty days from the date of publication of the notice of the competitive dialogue.

The participants shall be provided the opportunity to familiarize themselves with the tax, financial, legal and environmental analysis of state-owned property subject to privatization. In this case, a non-disclosure agreement is signed with the participants.

Before the deadline for submitting proposals, the Participant shall have the right to change or withdraw his previous proposal on the basis of the conditions specified in his proposal documents.