The Government will reimburse the former owners of nationalised houses by granting them securities and shares. To do so, the Executive has set aside up to 20% in capital of the national companies sprung from the reorganisation of regies autonomes.
An emergency ordinance issued two weeks ago ruled that the process of setting the quotas and distributing the securities or shares would be regulated by enforcement guidelines to be endorsed by the Government.
According to the ordinance syllabus, the proposed solution considers that the privatisable capital share currently held by APAPS (the Privatisation Authority) is already subject to accelerated privatisation procedures and that the seven-year period allowed by the lawmaker for selling these securities is, at least theoretically, longer than the period allowed for completing the privatisation procedures conducted for the entity in question.
The Public Administration minister, who originated the ordinance, explains "the only possible solution is to set aside part of the share capital of the national companies sprung from the reorganisation of regies autonomes, to pay the reparations stipulated by the law."
The originator says the "privatisation by restitution" principle will thus be applied, as it is also meant to effectively speed up the privatisation of the entities in question.
The ordinance specifies that the ministries and the other public institutions of the state or of the territorial-administrative units, including the autonomous or independent entities, the regies autonomes, the national companies, the state-run trading companies and the privatised companies are not among the legal persons entitled to restitution according to the procedures regulated by Law 10/2001.
The ordinance also stipulates stamp tax exemptions for every petition or lawsuit filed for repayment of the updated price paid by the tenants whose sale-purchase contracts were concluded in disregard of Law 112/1995 and dissolved by final and irrevocable court rulings. The originator says there are about 10,000 such cases in the entire country, with the contracts dissolved because of the sellers.
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