Source: https://www.riigiteataja.ee/en/eli/512032014001/consolide
Timestamp: 2020-07-10 05:48:48
Document Index: 42061833

Matched Legal Cases: ['§ 2', '§ 4', '§ 5', '§ 6', '§ 7', '§ 8', '§ 9', '§ 10', '§ 11', '§ 12', '§ 13', '§ 14', '§ 15', '§ 16', '§ 17', '§ 18', '§ 19', '§ 20', '§ 21', '§ 22', '§ 23', '§ 24', '§ 25', '§ 26', '§ 27', '§ 28', '§ 29', '§ 30', '§ 31', '§ 32', '§ 33', '§ 34', '§ 35', '§ 36', '§ 37', '§ 38', '§ 39', '§ 40', '§ 41', '§ 42', '§ 43', '§ 44', '§ 45', '§ 46', '§ 47', '§ 48', '§ 49', '§ 50', '§ 51', '§ 52', '§ 53', '§ 54', '§ 55', '§ 56', '§ 57', '§ 58', '§ 59', '§ 60', '§ 61', '§ 62', '§ 63', '§ 64', '§ 65', '§ 66', '§ 67', '§ 68', '§ 69', '§ 70', '§ 71', '§ 72', '§ 73', '§ 74', '§ 75', '§ 76', '§ 78', '§ 79', '§ 80', '§ 81', '§ 82', '§ 83', '§ 84', '§ 85', '§ 86', '§ 87', '§ 88', '§ 89', '§ 90', '§ 91', '§ 92', '§ 93', '§ 94', '§ 95', '§ 96', '§ 97', '§ 98', '§ 99', '§ 100', '§ 101', '§ 102', '§ 103', '§ 104', '§ 105', '§ 1051', '§ 106', '§ 107', '§ 108', '§ 109', '§ 110', '§ 111', '§ 131', '§ 112', '§ 130']

State Assets Act – Riigi Teataja
State Assets Act - content
§ 2 Exceptions to the application of this Act
§ 4 Administrator of state assets
§ 5 Administration of securities and of founder’s rights in a company
§ 6 Agency exercising founder’s and membership rights in a foundation or non-profit association
§ 7 Designation of the administrator of state assets in other cases
§ 8 Principles of administration of state assets
§ 9 Obligations of administrators of state assets in relation to participation in a legal person in private law
§ 10 Purpose of the administration of state assets
2 CEDING THE ADMINISTRATION OF STATE ASSETS TO ANOTHER ADMINISTRATOR OF STATE ASSETS
§ 11 Justifiability of ceding the administration of state assets
§ 12 Deciding on the ceding of the administration of state assets
§ 13 Formalisation and effective date of the ceding of state assets
3 AUTHORISING THE USE OF STATE ASSETS
§ 14 Purpose of authorising the use of state assets
§ 15 Restrictions on authorising the use of state assets
§ 16 Use of state assets by different administrators of state assets
§ 17 Types of procedure employed in authorising the use of state assets
§ 18 Fee for the use of state assets
§ 19 Deciding to authorise the use of state assets
§ 20 Terms for which the use of state assets is authorised
§ 21 Decision to authorise the use of state assets
§ 22 Modifying the terms and conditions of the authorisation to use state assets
§ 23 Arranging the authorisation to use state assets
§ 24 Agreement concerning the use of the state assets
§ 25 Performance of the agreement concerning the use of state assets and the liability of the parties
§ 26 Decision to encumber state assets with a limited real right
§ 27 Agreement on encumbering state assets with a limited real right
§ 28 Fee for encumbering state assets with a real right
4 TRANSFER OF STATE ASSETS
§ 29 Purpose of the transfer
§ 30 Types of procedure employed in transferring state assets
§ 31 Special rules regarding the types of transfer of securities
§ 32 Sale of state assets
§ 33 Transfer of state assets without charge or below the usual value
§ 34 Transfer to a local authority of residential land for a price below the usual value of the assets
§ 35 Barter
§ 36 Persons acquiring state assets
§ 37 Deciding the transfer of state assets
§ 38 Decision to transfer state assets
§ 39 Special rules regarding the decision to transfer securities
§ 40 Transfer of shares in a public limited company in response to a takeover bid
§ 41 Exchange of securities for other securities
§ 42 Transfer of shares to other shareholders of the company
2 Arranging the transfer
§ 43 Initiating the transfer
§ 44 Draft order, explanatory memorandum and documents of the Government of the Republic
§ 45 Special rules regarding the explanatory memorandum and documents in the case of transfers of securities
§ 46 Fee for transfer
§ 47 Determining the usual value of securities
§ 48 Transfer arrangements
§ 49 Terms and conditions of the transfer agreement
§ 50 Notice of the transfer agreement
3 Special rules regarding transfers of state assets by way of ceding the assets as non-monetary contribution to a legal person in private law
§ 51 Ceding of state assets as non-monetary contribution to a legal person in private law
§ 52 Proposal to cede state assets to a legal person in private law
§ 53 Explanatory memorandum concerning the ceding of state assets to a legal person in private law
§ 54 Formalising the ceding of state assets to a legal person in private law
4 Certification of state assets as unserviceable
§ 55 Conditions for certifying state assets as unserviceable
§ 56 Writing off and destroying state assets
5 PROCEDURE IN AUTHORISING THE USE OF AND TRANSFERRING PUBLIC PORPERTY
1 Conduct of procedures
§ 57 Basic principles of procedure
§ 58 Publication of the notice of auction
§ 59 Inspection of the assets
§ 60 Starting price
§ 61 Participation fee
§ 62 Security
§ 63 Expenses of the person acquiring state assets
§ 64 Expenses related to transferring state assets
§ 65 Expenses related to authorising the use of state assets
2 Public auction
§ 66 Public auction: definition and special cases
§ 67 Notification of the results of a public auction
§ 68 Approval of the results of a public auction
§ 69 Decision following refusal to approve the results of a public auction
§ 70 Procedure concerning securities
§ 71 Evading the conclusion of the agreement
3 Selective tender
§ 72 Authority to hold a selective tender
§ 73 Additional conditions of a selective tender
4 Public sale of securities
§ 74 Public sale of securities
6 PARTICIPATION OF THE GOVERNMENT IN LEGAL PERSONS IN PRIVATE LAW
1 Exercising the rights of the shareholder
§ 75 Acquisition of shares and requirements in respect of the articles of association
§ 76 Competence of the Government of the Republic
2 Exercising founder’s and membership rights in a foundation or non-profit association
§ 78 Competence of the Government of the Republic
§ 79 Requirements in regard to the articles of association of a foundation
3 Management and supervision
§ 80 Requirements to candidates for membership of a governing body
§ 81 Electing and recalling members of the supervisory board
§ 82 Exchange of information
§ 83 Submission of information by candidates for membership in the supervisory board
§ 84 Obligations to be observed by members of the supervisory board
§ 85 Remuneration of members or the supervisory board
§ 86 Remuneration of a member of the management board
§ 87 Internal control and internal audit
§ 88 Special rules regarding the management of partially state-owned companies
§ 89 Special rules regarding the management of foundations established by the state
7 ADMINISTRATION OF REAL PROPERTY
1 Special rules regarding administration of built-up real property
§ 90 Obligations of the administrator of state assets in administering a built-up immovable property
§ 91 Built-up real property provided for the state’s use
2 State-owned company providing real estate services to the state
§ 92 Purpose of activities of a state-owned company providing real estate services to the state
§ 93 Special rules regarding the articles of association of a company providing real estate services to the state
8 DISSEMINATION OF INFORMATION, REPORTING AND OVERSIGHT
1 State Real Estate Register and the dissemination of information
§ 94 Registration of state assets
§ 95 State Real Estate Register
§ 96 Giving notice to administrators of state assets in order to clarify whether real estate belonging to the state is needed
§ 97 Dissemination of the data
2 Reporting and oversight
§ 98 Reporting in respect of state holdings and the exercise of founder’s rights
§ 99 Aggregated reports
§ 100 Oversight of administration of state assets
§ 101 Obtaining an endorsement from the Ministry of Finance
1 Implementation of the Act
§ 102 Procedures and agreements
§ 103 Defining the purpose of administration of state assets
§ 104 Re-registration of state assets, ceding of founder’s and membership rights
§ 105 Ownership reform
§ 1051 Transferring an immovable property encumbered with a superficies interest in the course of the land reform
§ 106 Legal persons in public law
§ 107 Registration of state land in the Land Register and in the Land Cadastre
§ 108 Bringing legislation and articles of association into conformity with this Act
2 Termination of the activities of the State Assets Register
§ 109 Time-limit for termination of the activities of the State Assets Register
§ 110 Archiving the data in the State Assets Register
§ 111 Registration of state assets in state databases
3 Amendments to and repeals of laws
§ 131 Entry into force of the Act
06.06.2012 RT I, 28.06.2012, 1 08.07.2012, partially 01.03.2013
(2) The administration of state assets means the procedure of acquiring assets for the Republic of Estonia (hereinafter, the ‘state), of possessing, using and disposing of state assets, and of the participation of the state as a shareholder, founder or member in a private or public limited company, foundation, non-profit association, building association, community of apartment owners or a community of co-successors entered in a register in Estonia and, in the cases provided in this Act, in foreign legal persons in private law.
(1) The provisions set out in section 77(2) of this Act and the provisions of this Act regarding the acquisition and transfer of shares do not apply to the management of financial resources as provided in ss. 32(4) and 372(1) of the State Budget Act and to the shares acquired for the purpose of such management.
(2) The agency which organises the occupation of an immovable pursuant to section 126 of the Law of Property Act is the administration of the county in whose territory the assets are situated. The administrator of the immovable property occupied by the state is designated by the Government of the Republic. Until such time as the Government of the Republic designates the administrator of the immovable property, the state assets concerned are administered by the Ministry of the Interior.
(4) The state is under an obligation to organise the occupation of an immovable within the meaning of subsection 3 of section 126 of the Law of Property Act.
(5) In cases not named under subsections 3 and 4 of this section, the state may acquire assets only with the consent of the Government of the Republic.
[ RT I 2010, 24, 115 – entry into force 01.09.2010]
[ RT I, 15.03.2013, 26 – entry into force 20.03.2013]
(3) If they cannot be accessed through the central database of the registry departments of the courts, the explanatory memorandum must also enclose following documents:
(1) Where the ceding of state assets is subject to the consent of the Government of the Republic, the holder of the shares of the company or the person exercising the founder’s or membership rights, or the person who seeks founder’s or membership rights, submits the proposal to cede the assets, which are drawn up as a draft order of the Government of the Republic and which encloses the explanatory memorandum described in section 53 of this Act and, in accordance with subsection 2 of this section, the following documents, unless those documents are accessible through the central database of the registry departments of the courts:
7) an extract from the land register of from the register in which the movable is registered, if the non-monetary contribution consists in an immovable property or a movable property subject to a registration obligation, unless the information concerning the registration is accessible through the central database of the registry departments of the courts;
(2) The minister may authorise an assistant minister, the Secretary-General or Deputy Secretary-General of the ministry to execute the agreement.
(2) Subject to the approval of the Minister of Finance, the debts related to an immovable property or superficies interest to be transferred may be paid out of the funds received as the result of the sale.
(2) Subject to the approval of the Minister of Finance, the debts related to an immovable property or superficies interest whose use was authorised may be paid by the administrator of the property out of the funds received for the use.
2) when the holding is acquired for the purpose provided in point 3 of subsection 3 of section 37 of the State Budget Act;
(1) If the state holds at least a required interest in a company, the Government of the Republic, at the proposal of the Minister of Finance, approves the amount or rate of the dividend which serves as the instruction to the holding administrator in voting in the general meeting of the shareholders.
(2) The holding administrator submits to the Minister of Finance a proposal regarding the amount of rate of the dividend referred to in subsection 1 of this section together with the report which is mentioned in subsection 2 of section 98 of this Act.
(3) When extraordinary circumstances arise, the holding administrator may submit to the Minister of Finance a reasoned request to propose to the Government of the Republic to adjust the amount of rate mentioned in subsection 1 of this section. The said request may also be made by the Minister of Finance.
When the person to exercise founder’s rights engages in the exercise of those rights, he or she must take steps to ensure that the following specific requirements are reflected in the articles of association of a foundation established by the state:
[RT I 2010, 38, 233 – entry into force 01.07.2010]
7) a foundation whose several founders include the state may not be wound up or merged with another foundation without the consent of the state.
(1) The holding administrator and the Minister of Finance as well as the person exercising the founder’s or membership rights may not elect to the governing body of a legal person in private law, or propose to be elected member of such a body, or vote in support of the election of, any person who falls under subsections 2–4 of this section or who does not fulfil the following requirements:
(2) If the holding administrator is entitled to select or propose to elect more than one member of the supervisory board, he or she selects, or proposes to elect, the number of members corresponding to one-half of the relevant quota at the proposal of the Minister of Finance, and selects or proposes to elect the other half at his or her discretion. This does not apply in regard to the transmission network operator described in the Electricity Market Act, the members of whose supervisory board are selected or proposed for election by the holding administrator. Also, the administrator of the holding in the transmission network operator may not select or propose to elect any member of the supervisory board of an undertaking active in producing or selling electricity.
[RT I, 28.06.2012, 1 – entry into force 01.03.2013]
(4) If the person exercising the founder’s rights in a foundation established by the state is entitled to appoint more than one member of the supervisory board of the foundation, he or she appoints at least one of these members at the proposal of the Minister of Finance.
(1) The administrator of the state’s holding transmits to the Minister of Finance for information a copy of any decisions of the shareholders and of the minutes of the general meetings of the shareholders, which show the activities of the holding administrator in exercising shareholder’s or founder’s rights in the partially state-owned company.
(2) The person exercising the founder’s rights in a foundation established by the state transmits to the Minister of Finance for information a copy of any decision concerning the selection, election or recalling of any members of the supervisory board of the foundation, and of any other decision made by the founders of the foundation established by the state.
(1) The holding administrator, the person exercising the founder’s or membership rights and the Minister of Finance may, in accordance with section 80 of this Act, elect or, in the cases listed in section 81, propose to elect, as a member of the supervisory board only a candidate who:
(3) The Minister of Finance may, by regulation, establish a detailed list of the particulars which are required under subsection 2 of this section, the format for the submission of the particulars and the format for the submission of the declaration mentioned in point 1 of subsection 1.
(2) If the candidate described in subsection 1 of section 83 is elected chair of the supervisory board of a partially state-owned company in which the state holds at least a required interest, or of a foundation established by the state, he or she is obligated to submit to the holding administrator or the person exercising the founder’s rights and the Minister of Finance:
(3) If the candidate described in subsection 1 of section 83 is elected member of the supervisory board of a company in which the state does not hold a required interest, he or she is obligated to submit to the holding administrator and the Minister of Finance the agenda of a meeting of the supervisory board three business days before the meeting is held and, within three months following the holding of the meeting, the minutes of the meeting. If the supervisory board includes more than one such member, the holding administrator designates one member who was elected to the supervisory board at his or her proposal to perform this obligation.
9) in accordance with subsection 3 of section 4, subsection 6 of section 521, subsection 4 of section 79 and subsection 6 of section 83 of the Government of the Republic Act the remuneration of a member of the supervisory board is not paid to any minister, assistant minister or county governor, or to the State Secretary.
(2) Specific procedure concerning remuneration of members of the supervisory board and the limit rates of the remuneration, which the holding administrator or the person exercising the founder’s rights must have regard to when deciding to approve, or voting on, the articles of association, are established by a regulation of the Minister of Finance.
8) the supervisory board of a company falling under point 1 must observe the requirements, established by the Minister of Finance in accordance with subsection 3 of this section, concerning the drawing up of the minutes and the information to be recorded in the minutes of the supervisory board of any state-owned company or any foundation established by the state, and concerning the submission of the information listed in points 1 and 2 of subsection 2 of section 84 of this Act, provided such requirements have been established;
(3) The Minister of Finance may establish requirements regarding the information to be recorded in, and the format of, the minutes of the meeting of the supervisory board of any state-owned company or any foundation established by the state, as well as regarding the submission of the information listed in points 1 and 2 of subsection 2 of section 84 of this Act.
6) the supervisory board must observe the requirements established by the Minister of Finance in accordance with subsection 3 of section 88 of this Act in regard to drawing up minutes, and the information to be recorded in the minutes, of the meetings of the supervisory boards of state-owned companies and foundations established by the state, as well as the requirements regarding submission of the information listed in points 1 and 2 of subsection 2 of section 84 of this Act, provided that such requirements have been enacted;
[RT I 2010, 17, 94 – entry into force 01.05.2010]
[RT I, 05.01.2011, 11 – entry into force 15.01.2011]
(2) If the superficies interest on land which is in the ownership of the state has been created in accordance with the Land Reform Act and the person in whose favour the interest was created has not used the option, provided in subsection 1 of this section, to acquire the land at advantageous conditions, each successive superficiary enjoys the right of pre-emption in the event of the transfer of the immovable property. The corresponding observation is recorded in the land register on the basis of an unattested written application of the administrator of the state assets.
[RT I, 15.03.2013, 26 – entry into force 20.03.2013]
(7) Within two months following the entry into force of this Act, the Minister of Finance is to approve the procedure for remuneration and the limit rates of the remuneration of members of the supervisory boards which is referred to in subsection 2 of section 85 of this Act. Until the entry into force of the corresponding regulation of the Minister of Finance, the procedure for remuneration and the limit rates of the remuneration of members of the supervisory board continue to apply as effective before the entry into force of this Act.
§ 112. – § 130. [Omitted from this text]