Statutes of state stock company „Road Traffic Safety Directorate”
I. General
1. Form of the company: state stock company "Road Traffic Safety Directorate" hereinafter – the Company).
2. Commercial activities of the Company:
2.1. registration of vehicles and issuing registration documents, and registration number plates (60.2);
2.2. registration of power boats, motor boats, jetskis, row boats and issuing registration documents, and registration number signs (61.2);
2.3. granting and revoking rights to drive a vehicle and issuing of driver’s licenses (60.2);
2.3. maintaining the State Register of vehicles and Drivers (72.3 un 72.4);
2.4. carrying out periodic technical inspection of vehicles, technical control of vehicles in the framework of state technical inspection, and controlling technical condition of vehicles during their use (74.30);
2.5. carrying out road safety audit and general supervision (74.30).
3. In the fields not covered by these Statutes provisions of Law “On Shares of State and Local Governments and Companies” and Commercial Law apply.
4. Notifications to executive and control bodies of the Company envisaged by these Statutes are sent by registered mail or electronically (for example, by fax, e-mail) to the addresses notified by the executive and control bodies of the Company to the persona authorized by the Board.
5. Aim of the Company is to maintain and develop complex (system) of legally justified quality services in the fields of registration and technical control of vehicles, qualification of drivers, registration of pleasure watercrafts on inland waters and qualification of their operators in accordance with the interests of state and society in the transport sphere.
II. Capital and securities on the Company
6. Equity capital of the Company is 2 352 097 (two million three hundred fifty two thousand ninety seven) Lats, which is formed by 2 352 097 (two million three hundred fifty two thousand ninety seven) shares.
7. All shares of the Company are entitled to dividends, liquidation quota and voting rights at the meeting of shareholders.
8. All shares of the Company are registered shares.
9. All shares of the Company are dematerialized shares.
10. Face value of every share is 1 (one) Lats.
III. Council
11. Council consists of five members.
12. Council adopts decisions by simple majority of present members.
IV. Board
13. Board consists of four members.
14. Member of the Bard is elected for the period of three years.
15. Board adopts decisions by simple majority of present members.
16. In addition to the restrictions set by Commercial Law meeting of the shareholders may stipulate that member of the Board can not be employee or occupy elected positions in another commercial company, institution, organization or body of state or local government.
17. All members of the Board have representation rights. Members of the Board all together represent the Company.
18. Members of the Board may authorize one or more members of the Board to conclude certain deals or certain kinds of deals. Representative of the holder of shares ________________ V. Legzdiňđ
Riga, August 18, 2004
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