Cabinet of Ministers approved list of branches where state holding companies creation is not allowed

13:26, 21 May 2007
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Law is being edited

The Cabinet of Ministers approved the list of branches where state holding companies creation is not allowed during a corporatization and privatization process, according to an UNIAN correspondent.

The regulation of the Cabinet of Ministers from May 12 # 709 is on the Government portal.

According to the document, the braches, in which state holding companies cannot be established, are: jewellery industry, land management and land evaluation works, fuel and energy complex, except coal and atomic industry, telecommunications and housing and communal services. Meanwhile in the last three spheres a state holding company creation is not allowed in case natural monopoly subjects and management subjects, who act on the competitive markets, will be offered to join.

Footnote. On May 15, 2006 Verkhovna Rada passed an edited law on “Holding Companies in Ukraine”.

According to paragraph 3 of article 3, Cabinet of Ministers is responsible for determination of industries or fields of activity, in which the State holding companies will not be permitted during a corporatization and privatization process.

The law determined that the Cabinet of Ministers and State Property Fund approve the State holding companies establishment.

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