Order of the President of the Azerbaijan Republic on the establishment of the High-Tech Park of Azerbaijan National Academy of Sciences of (ANAS

Guided by Article32 of Paragraph 32 of Constitution of Azerbaijan Republic, in order to further increase of state support for sustainable economic development and to increase its competitiveness, the expansion of innovative and high-tech industries based on modern scientific and technological achievements, research and development of modern facilities for the development of new technologies, I resolve:

1. Create High-Tech Park of Azerbaijan National Academy of Sciences of (ANAS) (further - "Park tv").

2. Install that "TV Park" is an area that has the necessary infrastructure, material and technical base and governance structures for research and development activities, application (commercialization) its results in the field of industry, service and other areas in order to manufacture, development and improvement of innovative products and high technology.

3. Functions of competent authority for the "TV Park" provided by the National Academy of Sciences of Azerbaijan.

4. To Azerbaijan National Academy of Sciences take the necessary measures to ensure the creation of external and internal infrastructure in the "TV Park" and other services for the effective implementation of business activity.

5. In order to organize the activities of "TV Park" and to its management to create subordinate to Azerbaijan National Academy of Sciences of, Limited Liability Company "Park of High Technologies of ANAS".

6. Implementation of powers of the General Meeting of the Company Limited Liability Company "Park of High Technologies of ANAS" (hereinafter - the Company) to assign to the following state organizations and organs:

6.1. National Academy of Sciences of Azerbaijan:

6.1.1. Determination of directions of the Company development;

6.1.2 Election the Supervisory Board of the Company;

6.1.3. The establishment of the Company's structure, limit the number of employees, payroll system and approval of cost estimates

6.1.4. Establishment of an executive (or collegial edinonachalstvennogo) the Company's authority, establishment and termination of his powers;

6.1.5. Appointment and dismissal of the head of the executive body and his deputies, heads of representative offices and branches as well as subsidiaries;

6.1.6. Approval of annual reports, balance sheets, profit and loss accounts, distribution of profits and losses;

6.1.7. decision making about the conclusion of the transaction in the amount exceeding twenty five percent of net assets value of Society (the transaction of special value) and also according to the conclusion of the independent auditor – the transaction which cost constitutes five and more percent of assets of Society;

6.2. Based on offers of Azerbaijan National Academy of Sciences on the State committee of the Azerbaijan Republic concerning property:

6.2.1. Approval of the Charter and structure of Society, determination of the size of the authorized capital;

6.2.2. Consent on creation or abolition of organizations, representations and branches of Society, creation, reorganization or abolition of subsidiaries;

6.2.3. The solution of other questions carried by the civil code of the Azerbaijan Republic to powers of general meeting except for noted at this Order;

7. Reorganization and abolition of Society are performed by the President of the Azerbaijan Republic.

8.To the Cabinet of Ministry of the Republic of Azerbaijan:

8.1. To prepare and provide in two-month time to the President of the Republic of Azerbaijan offers connected with reduction of acts of the President of the Azerbaijan Republic in compliance with this Order;

8.2. To provide in three-months term reduction of regulatory legal acts of Cabinet Ministry of the Republic Azerbaijan in compliance with this Order and to inform the President of the Azerbaijan Republic;

8.3. To control reduction of regulatory legal acts of the central executive bodies in compliance with this Order and in three-months time to inform the President of the Azerbaijan Republic on execution;

8.4. For the activities of "Park TV" in the two-month period to ensure the provision for use of the Company with the right of lease of the land plot of experimental-industrial plant National Academy of Sciences of Azerbaijan, located on the street 622 th Akhmedli settlement of Khatai district of Baku city, and to inform the President of the Republic of Azerbaijan;

8.5. Ensure the implementation of the funding needed to carry out the work stipulated by part 4 of this Order, as well as the financing of the authorized capital of the Company and the costs of its content in the initial stage at the expense of the state budget;

8.6. For the implementation of research and development work on the profile of the activities' of "Park TV"

within six months, together with the Ministry of Economy, Ministry of Education of the Republic of Azerbaijan and the National Academy of Sciences of Azerbaijan to take measures for the organization, coordination and cooperation of local and foreign scientific and research institutions and higher education institutions in science, technology and innovation, and to inform the President of the Azerbaijan Republic;

8.7. Together with the Ministry of Economy of the Republic of Azerbaijan and the National Academy of Sciences of Azerbaijan to take measures related to the implementation of

8.8. Innovative projects in areas of activity of "Park TV" coordination test and expert activities, the activities of for the preparation of prototypes and the commercialization of science and international cooperation programs and grant programs, including including the involvement of potential donors, and to inform the President of the Republic of Azerbaijan;

8.9. Six months to prepare and submit to the President of the Azerbaijan Republic proposals on the mechanism of state orders for products produced in the "TV Park";

9. Solve other issues arising from this Order.

To the Ministry of Taxes of the Republic of Azerbaijan and the State committee of the Azerbaijan Republic concerning property to take measures for the state registration of Society.

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