Standing Committee on Economy reports - News.MN

Standing Committee on Economy reports

Old News! Published on: 2012.02.28

Standing Committee on Economy reports

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The Standing Committee on Economy on Monday, February 27, 2012 reported that it had signed total six draft laws, had made 23 amendments and 16th protocol during autumn session. R.Bud, the head of the Standing Committee on Economy stated that there are 400 billion MNT circulating assets supporting small and medium enterprisers. Small and medium enterprisers without mortgage were lack of potentiality to take loans from commercial banks. But now those citizens without mortgage can take loans from banks. The parliament also signed new amendment to protect share holders right to a law on a company. In particular, if a company does not hold a share holder`s meeting either not to distribute dividend, a share holder must complain to court. The second biggest protocol ratified by The Standing Committee on Economy is amendment to its 39 th protocol, which deals with the Tavantolgoi mining project . A new amendment initiated by MP Ya.Batsuuri, D.Odbayar was to grant Erdenes Tavantolgoi shares to citizens instead of enterprises. The Standing Committee on Economy agreed on it and decided Erdenes Tavantolgoi shares for citizen up to 20 percent. According to the protocol private enterprisers who make up 70-80 percent of GDP have right to buy 10 percent of Erdenes Tavantolgoi shares for asking price.
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