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State Committee on Property of the Republic of Belarus State Committee on Property of the Republic of Belarus Государственный комитет по имуществу

Privatization of state property


Questions regulates the privatization of state property of the Republic of Belarus Act of 19 January 1993 "On the privatization of state property and transformation of state unitary enterprises into open joint stock companies" (as amended on 16.07.2010 g.) (Hereinafter - the Law on Privatization), the decision of the Council of Ministers Belarus of December 31, 2010 № 1929 "on measures to implement the Law of the Republic of Belarus" on amendments and additions to certain laws of the Republic of Belarus and Annulment of certain of Legislative Telnyh acts of the Republic of Belarus and their individual positions on the privatization of state property "(hereinafter - the Decree № 1929), and other regulations.

Single issues of privatization procedures of state property and the circulation of shares on the securities market regulated by Decree of the President of the Republic of Belarus of March 20, 1998 № 3 "On privatization of state property in the Republic of Belarus" (ed. By 11.03.2011).

Objects of privatization of state property are:

• enterprises as property complexes of state unitary enterprises;

• shares (stakes in statutory funds) of economic companies owned by the Republic of Belarus or property of the administrative-territorial units.

Subjects of privatization can be:

• individuals, including individual entrepreneurs, foreign citizens and stateless persons;

• legal entities of the Republic of Belarus, with the exception of public organizations and business entities in the statutory funds of which the number of shares (amount of shares) owned by the Republic of Belarus and (or) its administrative and territorial units, more than 50 percent;

• foreign states and their administrative-territorial units;

• international organizations;

• foreign legal entities;

• foreign organizations that are not legal entities.

The sale of shares of joint-stock companies belonging to the Republic of Belarus is carried out by decision of the President of the Republic of Belarus.