PROTECTION OF FOREIGN  INVESTMENT

Article 10.  Rights and Duties of Foreign Investors.

   1. Foreign investors shall enjoy the following rights:
 
(i)  to posses, use and dispose of their property including repatriation of investments,  which were contributed to the share capital of the business entity with foreign investment;
 
(ii)  to manage or to participate in managing the business entity with foreign investment; 
 
(iii)  to transfer their rights and obligations to other persons in accordance with  the laws;
 
(iv)  to  promptly transfer abroad the following returns:
 
    a) the share of profits and dividends;
    b) proceeds  from the sale of their assets or securities and proceeds from the transfer of  their property rights to other persons or proceeds from their withdrawal from or the dissolution of the business entity;

  (v) any other rights conferred by law.
   2. Foreign investors shall have the following duties:

(i)  to observe the laws of Mongolia;
(ii)  to fulfill commitments which  are stated in the Memorandum and the Articles of Incorporation of the business entity with foreign investment;
(iii)  to implement measures to ensure the protection and restoration of the natural environment;
(iv)   to respect the customs and traditions of the people of Mongolia.