19 August, Minsk /BELTA/. Resolution of the Council of Ministers No. 639 of 16 August 2016 amends the procedure for conducting tenders for the sale of privatisation assets. The relevant information is posted on the website of the Belarusian government.
To achieve greater transparency of legislation in the sphere of state property privatisation, additions have been made to the regulations on the procedure for conducting auctions for the sale of privatisation assets and on the procedure for conducting competitions for the sale of privatisation assets.
Taking into account law enforcement practice, the aforementioned resolution reduces the period for publishing information notices on tenders (from 45 to 30 days), the deadline for submitting documents to participate in tenders (from 15 to 10 days), and the period for the competition organiser to refuse to conduct it (from 30 to 20 days). The unified country portal of foreign institutions "Belarus. Facts" has been determined as an additional source for publishing information on announced tenders.
In addition, additional obligations for buyers to fulfil competition conditions in sale and purchase agreements for state-owned privatisation assets have been established.
The resolution also amends the regulations on the procedure for determining the initial sale price of shares (stakes in authorised funds) of business entities owned by Belarus.
According to the legislation, the initial sale price of enterprises as property complexes, shares (stakes in authorised funds) of state-owned business entities is determined at market value. The valuation of these assets will be carried out by state organisations engaged in valuation activities, organisations with a state ownership stake of over 50% in their authorised fund, and regional organisations established by the Belarusian Chamber of Commerce and Industry.
This resolution enters into force after its official publication.-0-