Law (2010:879) On Public Utility Municipal Housing Companies

Original Language Title: Lag (2010:879) om allmännyttiga kommunala bostadsaktiebolag

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Read the untranslated law here: http://rkrattsbaser.gov.se/sfst?bet=2010:879

Public municipal housing companies



1 § With non-profit municipal housing corporations referred to in

This law a corporation as a municipality or several municipalities

jointly have control over and that in

General purpose



1. in its activities mainly manages real estate in

the residential apartments are licensed with tenancy,



2. promote housing supply in the municipalities

the owner of the company, and



3. offer tenants the option of accommodation and

influence in the company.



With control means that a municipality or more

municipalities jointly owns shares in a company with more than

half of all the votes in the company and also has at its disposal

so many voices.



The influence exerted by a company over which a municipality

or more municipalities have a dominant influence shall be regarded as

exercised by the municipality or more municipalities jointly.



section 2 of A non-profit municipal housing companies should conduct

activities in accordance with commercial principles in spite of Chapter 2. 7 §

and Chapter 8. 3 c § local Government Act (1991:900).



The first subparagraph shall not prevent the provided such support to

a non-profit municipal housing companies as



1. has been approved by the European Commission, or



2. submitted under such regulations as the European

the Commission decided pursuant to article 108 (4) of the Treaty on

The functioning of the European Union, or



3. has been provided according to the conditions for aid laid down by the

The European Commission and considered to be compatible with the

common market and exempted from the requirement of

notification in article 108 (3) of the Treaty on European Union

system operation.



Value transfers



3 § A non-profit municipal housing company

distributions in a fiscal year may not exceed

an amount equal to the interest on the capital municipality

or the municipalities at the end of the previous financial year has

shot to the company in payment for the shares. The interest rate

will thus consist of the average prime loan rate

during the preceding fiscal year with the addition of one percentage point.



Value transfers during a fiscal year must not, however,

exceed an amount equal to half of the company's

results for the previous fiscal year.



4 § Restriction of value transfers in section 3 does not apply to

transfer of such net surplus resulting from the

disposal of real estate in the preceding financial year. With

net surplus "means the difference between a real estate

sales price and its book value plus

selling expenses.



Value transfers as referred to in the first subparagraph may not, however,

exceed half of the net surplus and should have been preceded by

City Council's decision.



5 § Restriction of value transfers in section 3 does not apply to

transfer of surplus generated during the previous

fiscal year



1. If the surplus is used for such measures in the context of

the municipality's housing supply responsibility that promotes integration

and social cohesion or to meet

the housing needs of persons for which the municipality has a

particular responsibility, or



2. If the transfer is made between public municipal

housing companies of the same group.



section 6, A non-profit municipal housing companies should

in writing annually to the Government or authority

the Government determines provide details of decided

value transfers and how they are calculated.



Transitional provisions



2010:879



1. This law shall enter into force on 1 January 2011.



2. By the Act repeals Act (2002:102) if public

housing companies.



3. The repealed law, however, is still too limited

distribution of profits and reporting of such dividend referred to

in Chapter 1. 1 and 4 of the Act during the fiscal year that have

initiated prior to the entry into force.