Articles of Association and Amendments
Chapter One - Generalities and financial capital
Article 1 - The name of the company is Kurdistan Regional Water Authority Company.
Article 2 - The purpose of the company is to carry out activities and operational tasks of water resources management in the operational area of the company within the framework of the policies of the Ministry of Energy.
Article 3 - The main center of the company is located in Iran, Kurdistan, Sanandaj.
Article 4 - The type of company is a Private Joint Stock Company and has financial independence in all aspects and is managed according to the relevant laws and regulations and this statute and financial, transactional and employment regulations.
Article 5 - The duration of the company is unlimited.
Article 6 - The company's capital is ten million (10,000,000) Rials, divided into ten shares of one million Rials each, and it is wholly owned and paid by the IRAN Water Resources Management Company.
Chapter Two - The subject of the company's activities and duties
Article 7 - The company's activity is focused on performing operational tasks in the field of water resources management, including knowledge, study, development, protection, and optimal use of water resources, as well as the creation, development, operation, and maintenance of water facilities and structures (excluding water and wastewater facilities and structures) and hydropower in accordance with watershed management requirements and policies, as well as comprehensive studies and planning.
Chapter Three - The Pillars of the Company
Article 8 - The company's pillars are as follows:
Chapter Four - Financial Statements
Article 27 - The financial year of the company is from the first of April of each year until the end of March of the same year.
Article 28 - The company's financial statements must be prepared according to accounting standards and submitted to the inspector and auditor within the required deadline.
Article 29 - The company will be allowed to allocate a part of the credits subject to paragraph (3) of Article (22) of the Articles of Association to the specialized parent company of IRAN Water Resources Management Company for performing certain services.