OPERATION OF BUSINESS  ENTITIES
WITH FOREIGN  INVESTMENT

Article 17.  Winding Up and Dissolution of Business Entities with Foreign Investment.
      
1. Within 14 days  from the date on which a resolution to suspend or terminate the operations of the business entity with foreign investment has been adopted, the business entity with foreign investment shall submit this resolution to the Ministry of Trade and Industry.
 
2. A business entity with foreign investment which is under dissolution shall submit to the Ministry of Trade and Industry statement of the appropriate authorities which certify completion of all its payments and fulfillment, in accordance with the laws of Mongolia, of its duties to restore the natural environment.
 
3. The Ministry of Trade and Industry shall  thereafter withdraw its authorization which had originally approved the establishment of the business entity with foreign investment, and shall inform the General Department of State Taxation of such annulment.
 
4. Upon the receipt of notice referred to in paragraph 3 of this Article, the General Department of State Taxation shall remove the business entity with foreign investment from the state register and make such removal public.
 
5. Should the operations of the business entity with foreign investment be terminated in preparation for dissolution, the foreign investor shall be entitled to transfer its returns referred to in paragraph 4  of Article 10 of the present Law upon completion of final accounts of the business entity concerned.