Rules On State Pension Special Budget Passed The Capital Part Of The Sales Conditions And Arrangements

Original Language Title: Noteikumi par valsts pensiju speciālajam budžetam nodoto kapitāla daļu pārdošanas nosacījumiem un kārtību

Read the untranslated law here: https://www.vestnesis.lv/ta/id/134796

Cabinet of Ministers Regulations No. 366 in 2006 (May 9. No 26 5. §) rules on State pension special budget passed the capital part of the sales conditions and order Issued in accordance with the law "on State and local government owned capital shares and enterprises ' 128. the first paragraph of article i. General questions 1. provisions laid down the conditions and the order in which you sell the State pension special budget passed in the capital (hereinafter the capital of the country) a Corporation (referred to as the company), which is the State social insurance agency (hereinafter the Agency). 2. the State can sell the shares as follows: 2.1 sell all society national capital as a whole;
2.2. the public State shares split and offers each part separately. 3. national capital sold for cash, subject to these rules, the company's articles of Association, the commercial law and other laws in certain parts of the capital transfer rules and procedures. 4. national capital funds obtained from the sale (net of State capital with sales related actual costs incurred by the Agency) including State pension special budget. 5. the capital country sells on the basis of an order of the Cabinet of Ministers on state capital share sales. 6. national capital sales organised by the Agency. 7. before the State of the public service of the shares for sale and the order of the Cabinet of Ministers on the State of preparation of the capital selling agency determines the highest national capital companies conditional value: 7.1. State of the company's capital, which is determined by the equity method by dividing the net assets of the company by the total number of shares and multiplying by the number of shares in the State company. Determining the State of the public capital in accordance with the equity method, the calculation uses data from the last members (shareholders) meeting approved the company's annual report, which provides a sworn auditor's opinion;
7.2. from the company's national capital (if the company's shares are admitted to trading on a regulated market), which is determined by the company weighted average share price on the regulated market of the last 12 months, multiplied by the number of shares in the country. Determining the State of the public capital assumed par value in accordance with the procedure laid down in this subparagraph, it shall be considered timely and not interchangeable, if you order the company projects national capital sales filed in the cabinet within two months of their notional value. 8. in determining the relative value of the public State shares, which are included in the regulated market, they are classified into the following groups: 8.1. companies which are part of the national capital, the notional value is less than 500000 lats;
8.2. the company, which is part of the national capital, the notional value is 500000 dollars or more. 9. after the State of the public shareholders a notional value, the Agency shall draw up and submit to the Ministry of Welfare lists, which listed separately: 9.1. companies which are State shares are not listed on the regulated market;
9.2. the company, which the State shares are included in the regulated market and for which the notional value is less than 500000 lats;
9.3. the company, which the State shares are included in the regulated market and for which the notional value is 500000 dollars or more. 10. the agency that the lists referred to in paragraph 9 shall be excluded from the company, which declared bankruptcy or winding-up proceedings undertaken. 11. The Ministry of welfare after paragraph 9 of these regulations contains the receipt of information prepared and submitted to the Cabinet of Ministers a draft order for public participation, which are not included in the regulated market, and all of their state capital, which are included in the regulated market and for which the notional value is less than 500000 dollars. 12. the draft order of the Cabinet of Ministers on the State of the public sale of shares, which the State shares are admitted to trading on a regulated market and for which the notional value is 500000 dollars or more, these rules shall be prepared in accordance with the procedure laid down in chapter IV, but the order of the Cabinet of Ministers proposals for the sale of shares in connection with the mandatory or the final buy-back offer-this provision in chapter V. 13. If after the provision referred to in paragraph 11 of the cabinet order shall be transferred to the Agency of a company the capital or the country for which the company had declared bankruptcy, and in which the national capital, the restoration process is completed, the Agency shall determine that public participation conditional value and inform the Ministry of Welfare on the need to launch this public sale of shares in accordance with the procedure laid down in these provisions. II. The company's public shares sales arrangements that are not included in the regulated market 14. Agency after the cabinet order on public participation in the development and sales of the company's public shares sales regulations, which are not included in the regulated market, and the draft Treaty on the sale of State shares of the purchaser. 15. The rules referred to in point 14 sales regulations specify: 15.1 state capital part of the sales price;
15.2. the pay period;
15.3. the payment order;
15.4. other information on national procedures for the sale of the shares. 16. in determining the State of the public selling price of shares that are not listed on the regulated market, the Agency consulted the assessors (expert) who has the right to judge a society national capital and included in the business register approved list. Sales price to be at market value. 17. The company's national sales price of the shares, which are not included in the regulated market and for which the notional value is less than 10000 dollars, there is no need to call this rule evaluator referred to in paragraph 16 (expert). In such cases, the selling price shall be determined in accordance with the equity method. 18. The terms of the sale contract and the project on the State of the public sale of shares, which are not included in the regulated market, the Agency shall send to the Management Board of the company concerned, which state capital is the sales object. 19. the company's Board after 18 of these rules to this disclosure provides the ability for each Member of the company (shareholders) exercise their pre-emptive rights to the shares to be sold in the State, where provided in the statutes of the public or pre-emptive right to national capital participant (shareholder), or result from the commercial law provides public statutory special disposal conditions. 20. the Agency sold public shares in the country where the purchaser, subject to the provisions of paragraph 19 of the conditions specified by the Management Board of the company and who submitted a statement to the Agency indicating readiness to buy Government shares under Agency developed and approved the terms of the sale and to sign the contract by the Agency on the State of the public sale of shares. 21. If the members of the company (shareholders) waives its pre-emptive rights to the company's public shares and the company's statutes provided for the disposal of specific conditions, and the company's Management Board, subject to these rules 19 and 20 of the type referred to in paragraph 1, within two months after receipt of the terms of the sale indicates the public part of the capital of the country, the Agency, the buyer has the right to sell the company's public shares through an open auction. Open the auction rules are developed and approved by the Agency. 22. After the conclusion of the agreement on the State of the public sale of shares, which are not included in the regulated market, and received payment for these parts of the State capital, the Agency shall inform the Management Board of the company, which shares are sold, on the need to make appropriate entries in the register of members of the public. If, in accordance with the relevant commercial law accounting for shareholders is not intended for members of the register, the Agency shall take the necessary legislative or regulatory activities established to ensure property rights Exchange to the State capital. III. Those national procedures for the sale of shares, which are included in the regulated market and whose value is less than 500000 dollars 23. To sell public shares in the country, which are included in the regulated market and for which the notional value is less than 500000 dollars, agency legislation established the national choice of capital sales organizer who will develop sales rules and organized by the national capital sales. Society of public participation provisions in connection with the sale of shares to the holder or the minimum final sell-out is certainly this provision in chapter V. 24. The provisions referred to in paragraph 23 of the sales regulations specify: 24.1. public participation the public sales minimum price;
24.2. the company's state capital sales phases, methods and terms;

24.3. other information on national procedures for the sale of the shares. 25. the provisions of the public Sale of State shares, which are included in the regulated market and to which the notional value is less than 500000 dollars, approved by the Agency. 26. the State of the public shares, which are included in the regulated market and for which the notional value is less than 500000 dollars, adhering to the rules provided for in paragraph 24 of the terms of the sale, sold especially for this purpose held its auction or licensed for continuous stock exchange market. 27. national capital sales minimum price auction determines the 80% from the last 12 months the weighted average of the stock prices. If the last 12 months have significantly changed market conditions or the State of the company's equity trading activity on the regulated market, the minimum price may also be lower or higher than 80% of the last 12 months the weighted average of the stock prices. IV. The State of the public shares sale, which are included in the regulated market and for which the notional value is 500000 or above 28 dollars to sell public shares in the country, which are included in the regulated market and for which the notional value is 500000 dollars or more, the Agency legislation established the check referred to in this paragraph of the public State shares sale organizer who will develop sales rules will appreciate this society national capital and organized by the national capital sales. Society of public participation provisions in connection with the sale of shares to the holder or the minimum final sell-out is certainly this provision in chapter V. 29. The provisions referred to in paragraph 28 of the sales regulations specify: 29.1. public participation the public sale price;
29.2. evaluation of possible sales methods and recommended method of sale;
3. report on the planned sales process and the planned cost of sales;
29.4. the pay period;
29.5. the payment order;
18.4. further information on national procedures for the sale of the shares. 30. This provision, paragraph 28 sales sales made by the organizer shall submit to the Ministry of Welfare rules. The Ministry of welfare, prepare a draft order of the Cabinet of Ministers on the State of the public sale of shares, adding to the company's public shares sales. 31. Following the order of the Cabinet of Ministers and the national capital rules for the approval of the sale of State shares of the company are sold in sales terms. V. national capital or the final sale of shares in the offer of 32. If, after the entry into force of these regulations, or by these rules, the above cabinet order picking on their society, part of the national capital, the sale of which is included in the regulated market, the Agency receives the mandatory or the final stock buyback offer, so all the information you need about the mandatory or the final share buy-back offer submitted to the Ministry of Welfare. The Ministry of welfare prepares new cabinet order on the sale of shares in connection with the mandatory or the final buyback offer. 33. Selling shares due to the mandatory or the final stock buyback offer, State-owned shares can be sold on the financial and capital market Commission accepted stock buy-back price. 34. Selling shares due to the mandatory or the final share buy-back offer, the Agency and the Ministry of welfare follow that rule 3, 4, 5 and 6 set out in the general sales terms and the law on the financial instruments market. VI. final question 35. Be declared unenforceable in the Cabinet of Ministers of 29 July 2003 Regulation No 418 "State pension special budget passed the capital part of the sales conditions and arrangements" (Latvian journal, 2003, 111 no). Prime Minister a. Halloween Welfare Minister d.-Staķ