Law of Georgia on JSC Partnership Fund (No. 4522-IS of 2011)

The JSC Partnership Fund (‘the Fund’) is a joint stock company provided for by the Law of Georgia on Entrepreneurs and founded by the State. The State’s participation in the activities of the Fund is limited to the powers of the shareholders provided for by this Law, the Law of Georgia on Entrepreneurs and the Charter of the Fund. The State is not involved in the daily activities of the Fund or in developing the investment strategy of the Fund. The Fund is independent in its activities and is guided by the Law of Georgia on Entrepreneurs, the Civil Code of Georgia, this Law, the Charter of the Fund, and other legislative and subordinate normative acts of Georgia. The objectives of the Fund are to: (a) make profit and ensure an increase in the value of its financial assets; (b) attract investment; (c) create jobs; (d) support the completion of delayed projects and develop and/or finance new projects; (e) administer its shares in implemented projects; (f) conduct any other activities not prohibited by law. The guiding principles of the Fund’s activities are to: (a) determine the strategy and objectives of investment or other kinds of activities and implement them in accordance with the Charter of the Fund; and (b) implement investment or other kinds of activities through transparent and fair procedures, impartially, and taking into account best business practices.