Law No. 878-IQ on privatization of state-owned property.

This Law determines the organizational, economic and legal foundations of privatization of state-owned property. The main purpose of privatization of state property is to achieve liberalization of the economy, expansion of entrepreneurship, formation of a competitive environment, increasing its efficiency, structural changes and raising the standard of living of the population through attracting investments to the economy. This Law lays down provisions on the State Program for the privatization of state-owned property; classification of state property; restrictions imposed during the privatization of state property; state guarantee of investments in privatization; state control over the privatization process; and rules and methods of privatization of state-owned property. Environmental requirements may be included in the purchase and sale agreements.