The Order In Which The Privatisation With Private Capital Raising Method

Original Language Title: Kārtība, kādā veicama privatizācija ar privātā kapitāla piesaistīšanas metodi

Read the untranslated law here: https://www.vestnesis.lv/ta/id/144273

Cabinet of Ministers Regulations No. 770 in Riga in 2006 (19 September. No 48 10) the order in which the privatisation with private capital raising method in accordance with the Issued law "on State and municipal property privatisation of object" article 2, fourth paragraph i. General questions 1. determines the order in which the privatization with attraction of private capital.
2. the privatization with attraction of private capital, on the subject of privatisation can be any person who complies with the law "on State and municipal property privatisation of objects" in article 4.
3. the privatization with attraction of private capital, the privatisation of the object is public or municipal corporation, limited liability company or joint stock company.
4. national or local corporations with the privatisation private capital raising method carried out by increasing the national or municipal corporation's share capital in accordance with commercial law and pursuant to the law "on State and local government owned capital shares and enterprises".
II. Privatization of the proceedings and decision making 5. Right to propose national or municipal corporation for privatization with attraction of private capital method is any person who wants to invest private capital in public or municipal corporation's share capital, shareholders, Government or municipal corporation, the privatisation Agency and the municipalities concerned. The proposal indicates the private equity investor and the investment by private capital.
6. Proposals to privatise the public corporations in raising capital with private method, submit the privatisation Agency. If the Government proposes the privatization of public corporations is a corporation, the suggestion by the State privatisation Agency, the Corporation shall submit the proposal for public shareholders.
7. Privatization Agency collects the suggestions received, prepares draft decisions on privatisation of State corporations in raising capital with the private method, and notify the relevant national Corporation.
8. Decision on the privatisation of State corporations already forwarded the privatization with private capital raising method accepts the privatization agency.
9. the decision on the transfer of the municipal corporation for privatisation with the private equity acquisition method adopted the Municipal Council (the Council).
III. National or municipal corporations and privatization started 10. not later than two weeks after issuing an order for the surrender of the privatisation of State corporations to its shareholders and the privatisation Agency shall adopt a national corporation shares (the shares) and the law "on State and municipal property privatisation of objects".
11. The privatization agency national capital companies in the process of privatization is the country's capital and fulfil its function by the holder in accordance with the law "on State and local government owned capital shares and enterprises".
12. Any person may submit a proposal for State or municipal corporation's share capital increase or limit the privatisation project, the privatisation agency or the local authorities concerned in the notice published in the.
13. Privatizējam National Corporation's shares (stock) valuation organised by the privatisation Agency.
14. Privatizējam municipal corporation's shares (stock) valuation is organised by municipal property privatisation Commission (hereinafter referred to as the privatisation Commission), established and operating in accordance with the law "on State and municipal property privatisation Commission".
15. Payment for the privatizējam State or municipal corporation's shares (stock) valuation carried out in public or municipal corporation, which is being privatized.
16. development of the privatisation Agency for privatization of State corporations and the law "on State and municipal property privatisation of objects" in the order shall be published in the notice of approval, as well as the right to subject privatization to familiarize yourself with these provisions.
17. local capital company privatisation project is submitted subject to privatisation, but it shall consider and approve the Municipal Council (the Council) the law "on State and municipal property privatisation of objects" in article 41.
IV. increasing the share capital of State or municipal corporations in the privatization of State corporations 18. provisions are also the increase in the share capital of the rules, to approve the privatization agency.
19. Municipal corporations the privatisation project is also increasing the share capital, subject to the provisions of the relevant municipal Council (the Council).
20. national or municipal corporation's share capital increase of the regulations indicates that would be called a private corporation's members (shareholders) meeting.
21. the national or municipal corporation's share capital increase adds to the provisions of articles of Association and private corporations statutes.
22. national or local management board in the share capital of a capital company raising the time limit laid down in the rules shall be convened by the private corporation's members (shareholders) meeting. Members (shareholders) meeting approved private corporation Statute and elect the supervisory authority and the Board.
V.  Closing questions 23. by national or local government capital companies with private capital of privatisation raising method in private corporations in the privatization of the entity to obtain property rights to at least 25 percent of the share capital of a capital company.
24. All necessary documents related to the increase in share capital in the commercial register of the registration, the authority shall submit to the Corporation's Board.
25. Be declared unenforceable in the Cabinet of 15 November 1994, Regulation No 216 "establishing procedures of privatisation with private capital raising method" (Latvian journal, 1994, no. 140).
Prime Minister a. Halloween instead of Minister of Economics, Minister of defence (A). the Editorial Note: Slakter rules enter into force by 27 September 2006.