The new law governing the management of state property confers wider powers on the Prime Minister and creates the Capital Investment Fund.
The bill voted at the last government meeting is to correct the resolution of the bill from 16 December 2016 the rules governing the management of State assets and laws amended from the date 1 January 2017 in connection with the reform of the State Property Management System.
„The amendments will remove the resulting interpretation doubts that have arisen since the entry into force of the Act on State Property Management Rules, clarifying some of its provisions and supplementing it with new solutions, which will allow for the resolution of the powers and tasks of government administrations following the implementation of the State Property Management Reform on 1 January 2017 and flexible application of the provisions of the Act" - is written in the justification of the project.
Under the new rules, the transfer of rights to exercise the rights of shares belonging to the State Treasury will be made in a regulation of the President of the Council of Ministers, specifying the list of companies in which the powers conferred on the State Treasury are exercised by other members of the Council of Ministers, by representatives of the government or by state legal persons, including one-person companies of the State Treasury, and specifying the extent of the powers conferred on them,
Under the amended law, the Capital Investment Fund will be created, fuelled by contributions from single-member companies of the State Treasury, with resources of 30% any dividend paid, as well as advance payments to the anticipated dividend, from shares or shares held by the State Treasury, funds for reimbursement of public aid or non-public support granted to entrepreneurs from the Enterprise Restructuring Fund, as well as special subsidies from the State budget.
State aid for restructuring or other forms of rescue of entrepreneurs will not be available from the Fund. It is intended to ‘produce state assets by using part of its resources, i.e. the profits of companies transferred to the State Treasury as a shareholder, while at the same time supporting valuable investments from the fund’.