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Subject and activities of UZBAT

SUBJECT (MAIN BUSINESS AREAS) AND ACTIVITIES OF UZBAT.

1. The primary objective of UZBAT shall be to derive profit by means of growing, processing/fermentation, sale, import and export of tobacco and the manufacture, sale, import, export, marketing, and distribution of cigarettes and other tobacco products. UZBAT may also undertake any other business activity unrelated to the main activity, according to the legislation of the Republic of Uzbekistan.

2. To fulfil the primary objectives of UZBAT as set out in Article 1, the subject (mainstream) of UZBAT’s activities shall be to:

-  produce and sell products, implement works and render services to enterprises, organizations and citizens;

-  carry out foreign-economic activity in accordance with legislation of the Republic of Uzbekistan;

-  independently set prices and terms and conditions for the purchase and sale of own products and services;

-  undertake wholesale and retail trade within and outside the Republic of Uzbekistan, whether directly or through intermediaries in accordance with legislation of the Republic of Uzbekistan;

-  manufacture, process, construct, buy, deal in, rent or otherwise acquire all kinds of goods and property (tangible or intangible, movable or immovable) and/or sell, lease, mortgage, transfer rights to use or dispose of the same in any manner within and outside the Republic of Uzbekistan in accordance with legislation of the Republic of Uzbekistan;

-  independently conclude contracts and enter into arrangements with any person and generally engage in commercial and economic activities, and undertake liabilities of any nature whatsoever within and outside the Republic of Uzbekistan;

-  provide services of any kind whatsoever including the carrying on of consultancy, administrative and brokerage services according to the legislation of the Republic of Uzbekistan;

-  undertake import and export activities, directly and through intermediaries, which are necessary and consistent with the commercial activities of UZBAT and with the primary objectives set out in Article 5.1 of UZBAT's Charter , in accordance with legislation of the Republic of Uzbekistan;

-  enter into or terminate contracts with other enterprises for the establishment of partnerships, joint ventures, associations and consortium and others within and outside the Republic of Uzbekistan in accordance with legislation of the Republic of Uzbekistan;

-  create subsidiary companies and branches and representative offices within and outside the Republic of Uzbekistan in accordance with legislation of the Republic of Uzbekistan;

-  participate in foreign currency and commodities exchanges;

-  borrow money or raise funds or give security to any person for the obligations of UZBAT, or by charge of debtor’s property;

-  invest the funds of UZBAT within and outside the Republic of Uzbekistan and buy or otherwise acquire and/or transfer, exchange or otherwise use investments, shares, credits and other security in accordance with legislation of the Republic of Uzbekistan;

-  use the funds of UZBAT for the development and expansion of the business of UZBAT and any subsidiary company;

-  lend or advance money or otherwise give loan to any person with or without security and on such terms as may seem appropriate, in accordance with legislation of the Republic of Uzbekistan;

-  guarantee, whether by covenant or by charging any property of UZBAT, the performance of any contracts or obligations of UZBAT or any other person;

-  issue or sell any shares and/or other securities of UZBAT to any person and enter into any agreement in connection with such issue or sale, in accordance with legislation of the Republic of Uzbekistan;

-  grant powers of attorney;

-  apply for, register, purchase or otherwise acquire, sell, license, transfer or trade within and outside the Republic of Uzbekistan in any trademarks, trade names, service marks, designs, patents, inventions, know‑how and any form of intellectual property in accordance with legislation of the Republic of Uzbekistan;

-  employ any person and pay wages, salaries, pensions and other benefits to any officer or employee or former officer or employee of UZBAT or to their relatives or dependents, and develop and introduce pension, benefit and incentive schemes;

-  effect insurances against losses, risks and liabilities of all kinds in accordance with legislation of the Republic of Uzbekistan;

-  arrange and participate in exhibitions, auctions, and similar activities within and outside the Republic of Uzbekistan;

-  make donations and sponsorship for the purposes of charity and allocate funds to health, culture and science;

-  act within or outside the Republic of Uzbekistan as principal, agent, contractor or otherwise, either alone or in conjunction with others and either through agents, sub‑contractors, subsidiaries and representative offices or otherwise in accordance with legislation of the Republic of Uzbekistan;

-  render the medical assistance by way of setting up of medical points at UZBAT in accordance with legislation of the Republic of Uzbekistan;

-  install and operate radio stations in accordance with legislation of the Republic of Uzbekistan;

-  hold lotteries, advertising campaigns in accordance with legislation of the Republic of Uzbekistan;

-  arrange the output of information media in accordance with legislation of the Republic of Uzbekistan;

-  render services in area of design, constructions and use of: telecommunications networks, data communications network, as well as in the area of software programming and information technology;

-  carry out trading, mediator and trading-mediator activity, including for export; to buy/sell goods (services) for local and freely convertible currency on the territory of the Republic of Uzbekistan and outside it, in accordance with legislation of the Republic of Uzbekistan; and

-  carry out any such other activities which is not prohibited by the legislation of the Republic of Uzbekistan.

Activities which require special permit (license) shall be undertaken only after the relevant license is obtained in accordance with the legislation.