Law on administrative and territorial units of Mongolia and their governance.
The purpose of this Law is to regulate the establishment, reorganization, dissolution of the administrative and territorial units of Mongolia and their governing system, competences, principles of operation and structure. The economic foundation of the administrative and territorial units shall consist of land, its subsoil, natural resources, local properties, accumulated assets from production and service incomes of all kinds of property, local taxes, fees and tariffs provided by law.