Buyers must tell their price for securities to be sold at the stock exchange within three days. Financial resources, received as a result of selling state-owned securities, are transferred to the state budget, if these securities belong to the state or to the local budgets, of they belong to territorial-administrative units.

It is envisaged by the Regulations on the Sale of State-owned Shares at the stock exchange. The Government approved these regulations on Wednesday.

The Regulations fix ways and types of selling public property and concluding transactions at the stock exchange, rights and liabilities of sellers and buyers.

The Public Property Agency of the Ministry of Economy and Trade or administrative-territorial units are to publish announcements on each case of selling public property shares. Decisions, taken by the Sale Commission, consisting of representatives of the Ministry of Economy and Trade, the Ministry of Finance and central public authorities or decisions, taken by administrative-territorial units are sent to the stock exchange, the national depository and to brokers ten days before the sale.

The Regulations fix also procedures for organizing auctions, tenders on selecting brokers, fees to be paid by buyers, except the cost of acquired shares, namely, stock exchange and depository duties, brokers’ commission fee. They must be transferred to accounts of the exchange and the depository.  // Infotag



Publication date: 08 February 2008   

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