The methods of registering and running state-owned (municipal) companies, of managing their property and of liquidating them are defined in the draft law on the state-run enterprise that was approved by the Cabinet, IPN reports.
Thus, to prevent the sale of public property with social purpose (housing stock, kindergartens and summer camps), the bill bans the repaying of companies’ debts to the state and other creditors with this. The given property will be transmitted to the state-owned (municipal) company only for using it for economic purposes and will be indicated in the accounting records in separate reports. The other property will be included in the share capital. In this regard, it is suggested setting a cap of 20,000 lei for the share capital of state-owned (municipal) companies. Among sources for the formation of share capital can be
property and cash belonging to founders, except for property classed as public.
Also, a reserve capital is to be created at the state-owned (municipal) enterprise.
Under the bill, censors commissions will be set up at state-owned (municipal) companies to determine the legality of the documents signed by their managers and how the financial legislation, the decisions taken by administration boards and other internal regulations are implemented.
An important provision regulates the voluntary dissolution of state-owned (municipal) companies. Currently, the State Register of Legal Entities includes 320 state-owned (municipal) companies that are not managed by founders and that perform no activities and present no reports to the State Tax Service. These are dissolved by a Government decision. The dissolution (voluntary liquidation) procedure will be much simpler.
The bill is to be examined and adopted by Parliament.
