Ulaanbaatar
Mining Minister proposes improving coherence between laws
PoliticsUlaanbaatar /MONTSAME/ On January 8, Minister of Mining R.Jigjid submitted to parliament draft amendments to Law on Human Development Fund, proposing changes to the clauses concerning the formation of Erdenes Mongol LLC’s Board.
According to the Law on Human Development Fund, the Cabinet has all the authority to appoint the members of Board of Directors of Erdenes Mongol LLC, which manages the state shares of strategically important deposits. "This conflicts with the Law on Company, because the Human development fund law does not outline appointing independent members, making the board fully represented by government officials." he said. If adopted, "the law will ensure smooth operations of Erdenes Mongol, satisfying a proper organizational structure according to the Law on Company, and facilitate the company with opportunities to conduct profitable and independent activities," he considers.
