The Cabinet approved the law on state-run and municipal enterprises, IPN reports. The bill updates and standardizes the public policies to manage state-run and municipal enterprises, adjusting them to the general corporate governance norms, and specifies the duties of founders, administration boards and managers of these enterprises.
The draft law sets a ceiling of 5,000 lei on the share capital of enterprises. To prevent the sale of property classed as public property and property of a social purpose (kindergartens, summer camps and housing stock facilities), a special legal regime will be set, with their separate registration.
The powers of the administration boards of state-run and municipal enterprises will be extended. These will need to authorize the purchases of goods whose value will represent over 25% of the value of net assets of enterprises or exceed 400,000 lei.
The bill envisions the constitution of censorship commissions at state-run and municipal enterprises. These will examine enterprises’ economic-financial activities, including the procedures for purchasing goods, services and works, each semester.
The document defines the procedure for the voluntary dissolution of state-run and municipal enterprises given that the State Register of Legal Entities kept by the State Registration Chamber contains 320 enterprises that are not managed by founders. These haven’t worked for many years and do not possess property and are to be liquidated. A four-year term is suggested for reorganizing the state-run and municipal enterprises into commercial societies.
