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CPA 39 cont:
Section 11
Dissolution of Entities
1) Within 14 days from the date of adopting a resolution or other instrument terminating
the operations of a business entity that is owned or controlled by a foreign investor or
foreign investors, the business entity with foreign investment shall submit the
resolution or other instrument to the Iraqi Registrar of Companies.
2) Upon termination of operations and dissolution of the business entity with any level
of foreign investment, any such foreign investor shall, consistent with Section 7 of
this Order, have the right to transfer profits from the sale or liquidation to any foreign
location, or as provided in a written agreemenbt etweent he foreign investor and an
Iraqi investor, provided that all amounts owed by such business entity to the
government of Iraq and all Iraqi creditors have been paid in advance of the transfer.
Section 12
Tax Treatment
The Administrator may issue further orders to address the tax treatment of income
derived from a foreign investmenthat is reinvested in a business entity in Iraq.
Section 13
Treatment of Investors
No legal text that impedes the operation of this Order shall hold and all investors,
foreign and Iraqi, shall be treated equally under the law, except as otherwise
specifically provided in this Order.
Section 14
International Agreements
Where an internationala greementto which Iraq is a partyp rovides for more favorable
terms with respect to foreign investors undertaking investment activities in Iraq, the
more favorablet erms undert he internationala greemenst hall apply.
Section 15
Evasion
Violations of Sections 6(3) and 8(1) of this Order may serve as a basis for suspension
or cancellation of the rights of a foreign investor in Iraq that arise under this Order.
Section 16
Entry into Force
;hfl ~ on the date of signature.
r:. Paul Bremer, Administrator
Coalition Provisional Authority
CP A/ORD/19 September 2003/39 6
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