of January 19, 1993 No. 2103-XII
About privatization of state-owned property and transformation of the state unitary enterprises to open joint stock companies
(as of July 16, 2010)
This Law is directed to enhancement of the legal and economic relations in the field of privatization of state-owned property and transformation of the state unitary enterprises to open joint stock companies for the purpose of creation of conditions for investment attraction and development of effective socially oriented market economy.
For the purposes of this Law the following terms and their determinations are used:
subjects to privatization of state-owned property (further - subjects to privatization) - the companies as property complexes of the state unitary enterprises (further - the companies as property complexes), shares (share in authorized funds) of economic societies which are in property of the Republic of Belarus or in property of administrative and territorial units (further, unless otherwise specified, - shares (share in authorized funds));
subjects of privatization of state-owned property (privatization daleesubjekta) - physical persons, including individual entrepreneurs, foreign citizens and stateless persons, legal entities of the Republic of Belarus, except for the state organizations and economic societies in which authorized capitals the number of the shares (the share size) belonging to the Republic of Belarus and (or) its administrative and territorial units exceeds 50 percent, foreign states and their administrative and territorial units, the international organizations, foreign legal entities, and also the foreign organizations who are not legal entities;
privatization of state-owned property (further - privatization) sale of subjects to privatization to subjects of privatization according to the procedure and on the conditions established by this Law;
decisions on privatization - the decisions of the President of the Republic of Belarus, Council of Ministers of the Republic of Belarus, privatization authorities determining method, starting price of sale (price) and other sales terms of subject to privatization, and also resolving other questions connected with privatization according to this Law;
privatization authorities - republican state body on management of state-owned property, its territorial authorities, local executive and administrative organs acting in case of privatization and transformation of the state unitary enterprises to open joint stock companies on behalf of the Republic of Belarus or administrative and territorial units as owners of state-owned property. According to the decision of the President of the Republic of Belarus separate powers of privatization authorities can be performed by other state bodies (organizations).
The relations in the field of privatization and transformation of the state unitary enterprises to open joint stock companies are regulated by the legislation on privatization, based on the Constitution of the Republic of Belarus and consisting of this Law, regulatory legal acts of the President of the Republic of Belarus and other acts of the legislation.
The subjects to privatization which are outside the Republic of Belarus are privatized according to this Law if international treaties of the Republic of Belarus do not provide other.
The objects which are only in property of the state are not subject to privatization if other is not established by the laws, acts of the President of the Republic of Belarus.
This Law governs the relations arising in case of privatization, transformation of the state unitary enterprises to open joint stock companies and also determines features of legal status of such open joint stock companies.
Operation of this Law does not extend to the relations connected with alienation of subjects to privatization:
in cases of obligation fulfillment of the Republic of Belarus according to international treaties of the Republic of Belarus;
in case of realization by the Republic of Belarus, redemption right to claim administrative and territorial unit by joint-stock company of the shares which are in property of the Republic of Belarus or administrative and territorial units and also in case of realization by members of economic societies, economic societies, the third parties of the privilege to share acquisition (share in authorized funds);
according to the procedure of execution of court decrees;
in the cases established by the President of the Republic of Belarus.
This Law does not govern the relation on:
to the order the shares (shares in authorized funds) belonging to the Republic of Belarus or administrative and territorial unit and assigned on the right of economic maintaining or operational management to the state organizations;
privatizations of premises of the state housing stock;
to transfer to private property of the parcels of land.
Privatization is performed by sale:
shares (share in authorized funds) at auction;
shares (share in authorized funds) on tender;
the companies as property complexes at auction;
companies as property complexes for tender;
shares of open joint stock company by results of trust management.
Sale of subject to privatization without holding the auction (tender) is performed in case of sale of shares of open joint stock company by results of trust management and in other cases established by the President of the Republic of Belarus.
Single state policy in the field of privatization and transformation of the state unitary enterprises to open joint stock companies is directed to creation of favorable economic conditions for development of effective socially oriented market economy.
The basic principles of privatization and transformation of the state unitary enterprises to open joint stock companies are:
legality;
planned character and systemacity;
publicity, openness and broad informing the public concerning privatization and transformation of the state unitary enterprises to open joint stock companies;
equality of subjects of privatization;
onerousness of alienation of subjects to privatization to subjects of privatization;
observance and protection of the rights of owners;
assistance to development of effective socially oriented market economy.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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