English to Bulgarian Other Petroleum Eng/Sci нефт

1. The CSE must be an incorporated company domiciled in Austria, the object of whose business is the assumption of stockholding obligations under this Act. This company must have a supervisory board, the membership of which must include one representative, respectively, of the Federal Minister of Economy, Family and Youth and of the Austrian Federal Association of Energy Dealers. It is exempt from the provisions of the Trade Code 1994 unless otherwise provided for by the sentence before last of this subsection. In the event that the CSE makes profits it may only use them to create equity or strengthen its equity base. Any gains on the disposal of inventories shall be allocated to an appropriated, untaxed reserve. If such reserve is not utilised for the procurement of inventories in accordance with paragraph 7 within five years of its creation then it shall be reversed, and such reversal recognised for tax purposes. The procurement of in-ventories shall conform to the principles of frugality, efficiency and expediency, having regard to the current market situation. The provisions of the Trade Code 1994 regarding business establishments are applicable, subject to the responsibility of provincial governors for licensing business establishments. Section 69 Bankruptcy Order is inapplicable to the company.