Read the untranslated law here: https://www.vestnesis.lv/ta/id/192084
The Saeima has adopted and the President promulgated the following laws: the amendments to the law "on State and local government owned capital shares and enterprises" to make the law "on State and local government owned capital shares and enterprises" (Latvian Saeima and the Cabinet of Ministers rapporteur, 2002, No 21; 2003, 6, 15; 2004, nr. 18, 23 no; 2005, 2., no. 15; 2006, no. 24, no. 1; 2008; 2009, 2., no. 6; Latvian journal, 2009, nr. 47) the following amendments: 1. in article 2: Add to the second part of paragraph 6 by the following: "6) are managed in its Corporation in which the State or municipal corporation has gained a decisive influence.";
adding to the third paragraph after the words "Municipal Corporation to own shares in other undertakings, with the words" and the number "(except those in chapter IV of this law cases)".
2. in article 7: turn off in the first paragraph, the word "private";
turn off the sixth.
3. To supplement the law with article 7.1 as follows: "article 7.1. Legal consequences by acquiring decisive influence (1) If the holder of the shares or the Cabinet of Ministers has adopted a decision that one State Corporation acquires decisive influence in another corporation or a public corporation is acquiring all of the capital or of the voting shares of another corporation, the State Corporation of crucial influence in the existing society with limited liability, the Council will not be created, but the company's shares are created in accordance with article 89 of this law, the first and 1.1 and 1.2 part.
(2) If the holder of the shares or the Municipal Council (the Council) has decided that one of these Municipal Corporation acquires decisive influence in another Corporation in the same municipality or the municipal corporation is acquiring all of the capital or of the voting shares of another corporation, the municipal corporation of crucial influence in the existing society with limited liability, the Council will not be created, but the company's shares are created in accordance with article 89 of this law, the first and 1.1 and 1.2 part.
(3) State and municipal corporation shall ensure that a corporation in which it has acquired all of the capital or voting shares: 1) members of the Management Board remuneration does not exceed the Central Administration of statistics official statistics published in the notice of the State public sector workers the previous year's average monthly wage and rounded to full lats, which may apply the factor which must not be greater than 5. remuneration of the members of the Board of adjustment each year and recalculate the consideration to be paid by the start of the year may 1;
2) Board Member who is removed from Office before the end of the term and work contract or in any other agreement concluded in civil law provides for the severance pay or any other form of compensation, are entitled to receive severance pay or compensation to the extent specified in the contract but not more than two months in the amount of remuneration;
3) Council and Board member is a person who manages the country's language and work experience, education and qualifications to provide the Council and the members of the Board of the professional tasks;
4) Council member not receiving severance pay or any other form of compensation if is removed from Office before the end of the term;
5) remuneration of Board members is determined in accordance with the provisions of the Cabinet of Ministers, issued on the basis of article 92 of this law.
(4) If the first and second part of the shares of the company in those dependent councils are not created, the general meeting of shareholders shall perform the tasks of the Council under article 292 of the Law of the first part.
(5) If the first and second subparagraphs above dependent company are not created in the Council, the Management Board must obtain the consent of the general meeting of shareholders of Commercial Law 294 in the first subparagraph of article specific questions for decision. "
4. transitional provisions be supplemented with 30, 31 and 32 as follows: "30. If a corporation in which all shares or voting shares owned by the State or municipal corporation, until 1 June 2009 has created the Council, State or municipal corporation not later than august 1, 2009, according to this law, in article 7.1, the first and second part of the amendment of the statutes of this Corporation.
31. State and local corporations until July 1, 2009 to ensure that the corporations in which they have acquired all of the capital or of the voting shares, Board and Council members appointed to the June 1, 2009, according to this law, article 7.1 of part 1 and paragraph 5 of the requirements agreed remuneration is calculated and paid, starting with July 1, 2009.
32. State and municipal corporation of this law, the third subparagraph of article 7.1 (3) requirements (in terms of language, work experience, education and qualifications) apply to a Corporation Board and Council members, who are appointed in this position after June 1, 2009. "
The law shall enter into force on 1 June 2009.
The Parliament adopted the law in 2009 on April 30.
In place of the President of the parliamentary President G. Lot in Riga 20 May 2009 an editorial added: the law shall enter into force by 1 June 2009.
Search Translated Laws of Latvia