Translation from Lithuanian

Translation from Lithuanian Translation from Lithuanian GOVERNMENT OF THE REPUBLIC OF LITHUANIA R E S O L U T I O N No. 1281 On the Procedure of Establishment, Liquidation and Activities of Enterprise Branch Offices Vilnius, 27 September 1995 In compliance with the Law "On Amendments and Supplements to the Law on Enterprises of the Republic of Lithuania" of the Republic of Lithuania (Records, 1995, No. 60 -1503), the Government of the Republic of Lithuania r e s o l v e s:

1. To establish that: 1.
2. enterprises and banks of foreign states as well as enterprises of the Republic of Lithuania and Lithuanian Commercial Banks (hereinafter referred to as the Lithuanian banks) may establish their branch offices in the Republic of Lithuania. Branch offices may be established after the decision on the establishment of a branch office has been taken by an administrative body of the enterprise or the bank; 1.
3. branch offices are independent divisions of the enterprise or the bank. They do not enjoy rights of a legal person and can neither independently be engaged in commercial activities, nor produce their own balance sheets. Branch offices shall be established in order to represent interests of enterprises and banks. Upon authorization of an enterprise or a bank, the branch office may, on behalf of the enterprise or the bank establishing the branch office, carry out transactions, however they do not enjoy the right to settle payments with their customers. Branch offices shall not have payment accounts. Branch offices of foreign aviation, sea, railway and road transport companies enjoy the right to sell their tickets and reserve seats; 1.
4. Branch offices of enterprises and banks of foreign states as well as the Lithuanian banks shall be registered by the Ministry of Economy. Enterprises and banks of foreign states as well as the Lithuanian banks shall supply the Ministry of Economy with the following documentation: 1.3.
5. a request to register the branch office supplemented by the data which are required for the Enterprise Register of the Republic of Lithuania; 1.3.
6. a copy of regulations of the enterprise or the bank certified and legalized by a notary; 1.3.
7. a copy of the enterprise registry certificate certified and legalized by a notary or a legalized extract from enterprise register of foreign states; 1.3.
8. extract, legalized by a foreign state bank, from the bank register or a document testifying to the right to engage in banking, and a copy of register certificate of the Bank of Lithuania confirmed by a notary; 1.3.
9. a decision of an enterprise or bank administrating body to establish a branch office; 1.3.
10. an owner’s certificate of premises stating that premises are provided as the residence place for the branch office after the certificate is confirmed by a signature of administration head (by a legal person) and a seal or owner's signature (private person's) confirmed by a notary as well as a copy of the document testifying to the ownership on premises; 1.3.
11. a document certifying that the registry fee has been paid; 1.3.
12. a copy of the document on registration of the name of the branch office, if the name of the branch office includes more words other than the name of the enterprise or the bank or the word "branch office"; 1.3.
13. document testifying to the powers of the representative; 1.
14. Branch offices of enterprises registered in the Enterprise Register of the Republic of Lithuania shall be registered at executive institutions of local authorities. Enterprises shall submit the register supervisor with the documents as indicated in paragraphs 1.3.
15. - 1.3.
16. (except those as laid down in paragraph 1.3.4.), (documentation as indicated in paragraphs 1.3.2 and 1.3.3 does not need to be legalized); 1.
17. the branch office shall be considered to be established from the day of its registration; 1.
18. branch offices in the Republic of Lithuania shall be liquidated: 1.6.1.if an enterprise or a bank, having a branch office, are liquidated; 1.6.
19. if an institution authorized by the Government of the Republic of Lithuania adopts a decision to liquidate a branch office of the enterprise or the bank of the foreign state, in case the branch office has violated laws of the Republic of Lithuania; 1.6.
20. if decision to cease the activities of the branch office has been taken by an enterprise or a bank that have established the branch office; 1.
21. after the decision to liquidate the branch office is adopted, institution authorized by the Government of the Republic of Lithuania shall appoint the liquidator for the branch office or shall oblige the enterprise or the bank, which established the branch office, to carry out liquidation of the branch office; 1.
22. the liquidator shall submit the supervisor of the Enterprise Register of the Republic of Lithuania with the following documentation: 1.8.
23. a request to cancel the registration of the branch office; 1.8.
24. a copy of the decision to liquidate the enterprise (bank) or the branch office; 1.8.
25. bank certificate on the closure of a current account; 1.8.
26. a certificate issued by the administration of State Social Insurance Fund on settlement of accounts; 1.8.
27. a certificate by the State Tax Inspectorate proving that accounts with the budget have been settled (this is applicable to enterprise branch offices of foreign states); 1.8.
28. a receipt issued by the police commissariat that the seal has been destroyed; 1.8.
29. the original copy of the certificate of registration of the branch office.
30. To recognize as invalid Resolution No. 223 "On Registration of Branch Offices of Foreign Enterprises and Banks in the Republic of Lithuania" adopted on 31 May 1991 by the Government of the Republic of Lithuania (Records, 1991, No. 18 - 486; 1992, No. 28 - 839). Acting Prime Minister Minister of Finance Reinoldijus Ðarkinas Minister of Economy Aleksandras Vasiliauskas