The Law on State-Owned Objects Enters into Force on December 5

December 5, Minsk /BELTA/. The Law of the Republic of Belarus "On Objects Solely Owned by the State and Types of Activities Subject to the State's Exclusive Right" comes into force on December 5, 2010, BELTA reports. As noted by the State Property Committee, the law is aimed at reducing the number of organizations that should be solely owned by the state. The document defines objects solely owned by the state and types of activities subject to the state's exclusive right. The law takes into account the decisions made by the government, which provide for the privatization of a significant number of state enterprises by 2011, with the aim of further liberalizing the economy and attracting domestic and foreign investors interested in long-term economic ties and increasing the competitiveness of privatized enterprises to its real sector. These enterprises include the Novopolotsk Oil Transport Republican Unitary Enterprise "Druzhba", the Gomeltransneft "Druzhba" Republican Unitary Enterprise, the Gomel Crystal Republican Diamond Processing Unitary Enterprise, for which a decision on their transformation into OJSCs will be made by the end of 2010. The law is also adopted with the aim of protecting and conserving the environment and rational use of natural resources, and preserving historical, cultural, and spiritual heritage. Objects solely owned by the state include objects and types of property that ensure the territorial integrity of the state, its economic and energy security, and the social protection of the country's population. However, with regard to certain objects, due to the state's socially oriented policy, it has been decided that they will remain state property solely because they are state property as of the date the law comes into force or are newly commissioned at the expense of republican and local budgets. Thus, in the future, private entities may create such objects at their own expense and own them (social protection, education, healthcare organizations and institutions, alcoholic beverage production enterprises, public roads, airfields, public railway transport, civil defense facilities). According to paragraph 1 of Article 12 of the law, objects that are classified as solely state-owned and are owned by non-state organizations or individuals as of the date this act comes into force cannot be pledged, managed in trust, leased, or used free of charge. No other transactions may be made with them, except for transactions to alienate these objects into state ownership, unless otherwise established by laws or decrees of the President of Belarus. The Law on Objects was adopted by the House of Representatives of the National Assembly of Belarus on June 10, 2010, approved by the Council of the Republic on June 30, and signed by the President of Belarus on July 15. -0-