Rus News Journal

Government program of privatisation of the state and municipal enterprises of the Russian Federation for 1992

the Government program of privatisation of the state and municipal enterprises in the Russian Federation for 1992 (further - the program) is developed according to requirements of the Law of RSFSR About privatisation of the state and municipal enterprises in RSFSR establishes the purposes, tasks and a privatisation order in 1992, and also defines restrictions in this area...
the Requirements established by the Program of privatisation, are obligatory for execution by state governing bodies... Local governments...
the Program does not regulate privatisation of state farms, and also ground and housing funds.

2. Classification of objects and the enterprises whenever possible their privatisations in 1992

2. 1. Objects and the enterprises, which privatisation it is forbidden. 2. 1. 1. Bowels, wood fund, water resources, air space, resources of a continental shelf, maritime belt and a sea economic zone of the Russian Federation, and also the right to points of placing of companions in a geostationary orbit. 2. 1. 2. Protected or in a special way used natural territories. 2. 1. 3. Objects historical and a cultural heritage of the people of Russia (unique cultural both natural monuments and objects of the nature, history, culture, a science and technics, including the values stored in the state museums, archives and libraries, including premises and buildings where they are located). 2. 1. 4. Means of the federal budget of the Russian Federation, currency reserve of the Russian Federation, pension fund of the Russian Federation and the state off-budget funds, the Central bank of the Russian Federation, and also gold reserves and diamond fund. 2. 1. 5. The central bank of the Russian Federation, the enterprise, the organisation and the establishments providing release and storage of bank notes, the state treasury notes, bonds and other securities. 2. 1. 6. The regular and reserve property which is in an operational administration of Armed forces of the Russian Federation, and also armies of the Ministry of safety of the Russian Federation, the Ministry of Internal Affairs of the Russian Federation. 2. 1. 7. The establishments which financing is completely carried out at the expense of budgets of all levels. 2. 1. 8. The enterprises and establishments geological, kartografo - geodetic, hydrometeorological services, control services behind an environment and wildlife management condition. 2. 1. 9. The enterprises and establishments sanitary - epidemiological, veterinary, lesoohrannoj services and service of protection of plants. 2. 1. 10. Establishments of patent service, standardization and metrology, and also mashinoispytatelnye stations. 2. 1. 11. Objects and the electric power industry enterprises. 2. 1. 12. Objects, the enterprises, the organisations and establishments of pipeline transport. 2. 1. 13. Objects of water economic and meliorative systems and constructions, and also objects and the enterprises for their operation. 2. 1. 14. Television and radio transmitting centres. 2. 1. 15. Highways of the general using and the organisations which are carrying out their maintenance. 2. 1. 16. The enterprises for manufacturing of the state signs. 2. 1. 17. The enterprises for manufacture of narcotic and poisonous substances, and also carrying out crops, cultivation and processing of cultures, their containing. 2. 1. 18. Port constructions and objects, nuclear, educational, hydrographic, road fleet, fleet for carrying out of salvage operations and liquidation of floods of oil in the sea, it is repair - the technological enterprise Atomflot property of production associations of waterways and channels, groups podvodrechstroja and navigable inspections. 2. 1. 19. Objects, the enterprises and the equipment for a burial place of a firm industrial and household waste, a firm and liquid radioactive waste, skotomogilniki. 2. 1. 20. Objects and the enterprises medical - industrial and ispravitelno - labour establishments. 2. 1. 21. Objects of an engineering infrastructure of cities and areas (including elektro - warmly - and gas supply, vodoprovodno - a sewer economy, external city illumination), and also the enterprises which are carrying out operation, service and the maintenance of the specified objects. 2. 1. 22. The enterprises and the objects of a gas economy having inter-regional and all-Russian value. 2. 1. 23. Crematoriums and cemeteries. 2. 1. 24. The enterprises for manufacture of split and radioactive materials, the nuclear weapon, space vehicles; the enterprises and the objects providing service, start and support of the space vehicles, carrying out scientifically - research also it is skilled - design works in the specified areas. 2. 1. 25. The organisations and establishments of social protection of the population, children`s homes, children`s homes, old people`s homes, boarding schools, hospitals and sanatoria for invalids, children and aged, and also the organisations and establishments on preventive maintenance and treatment psychiatric, narcological and kozhno - the venereologic patients infected with a HIV and sick AIDS.

2. 2. Objects and the enterprises, which privatisation it is carried out under the decision of the government of the Russian Federation or the governments of republics as a part of the Russian Federation.

2. 2. 1. Objects and the enterprises for manufacturing and repair of systems and elements of any kinds of arms, to manufacture of fighting supplies, explosives, pyrotechnic products, and also scientifically - research design also it is skilled - the design organisations which are carrying out works in specified areas. 2. 2. 2. Objects of civil defence and mobilisation appointment. 2. 2. 3. Objects and the enterprises of nuclear mechanical engineering. 2. 2. 4. Specialised elevatory, refrigerators, the objects of a warehouse economy providing constant placing of the state reserves and storage of mobilisation stocks. 2. 2. 5. Objects and the mining industry enterprises (except for objects and the enterprises for extraction of local raw materials). 2. 2. 6. Objects and the enterprises for processing of ores of precious metals, precious and semiprecious stones, radioactive and rare-earth elements. 2. 2. 7. The enterprises and associations toplivno - a power complex (except for the building organisations and the building industry enterprises), including the enterprises coal - nefte - and gazodobychi and processings, export transshipment tank farms, and also the tank farms having inter-regional and all-Russian value. 2. 2. 8. Commercial banks (privatisation is carried out on a special mode). 2. 2. 9. Telecommunications agencies, (except the enterprises of a retail network Rospechat ) . 2. 2. 10. The information and cable agencies which are in management of the Ministry of Press and the information of the Russian Federation. 2. 2. 11. Objects, the enterprises and establishments socially - cultural appointment (public health services, formation, culture and sports) irrespective of their departmental subordination, being in the federal property (except the objects which are on balance of the enterprises and the organisations). 2. 2. 12. The enterprises of wholesale trade providing service of regions of the Far North (including vahtovye settlements). 2. 2. 13. The foreign trade associations of the Ministry of external economic relations of the Russian Federation and other ministries and departments of the Russian Federation.
the demand for privatisation of objects and the enterprises specified in section 2. 2. The present program, moves in territorial agencies of the State Property Committee of Russia which direct it to the State committee on management of the state property of the Russian Federation with the obligatory notice of the applicant. The decision under the demand is accepted by the vice-president of the government of the Russian Federation on representation of the State Property Committee of Russia and corresponding ministry. The decision under the given demands should be accepted till one month from the moment of demand receipt in territorial agency of the State Property Committee of Russia.
the specified order is applied concerning those objects and the enterprises included in section 2. 2., which cannot be carried to section 2. 1.

2. 3. Objects and the enterprises, which privatisation it is carried out only under the decision of the State Property Committee of Russia together with the branch ministries. 2. 3. 1. The enterprises of all branches of the national economy, occupying a leading position on federal or local commodity markets, works and the services, not entered into sections 2. 1 and 2. 2 present programs. 2. 3. 2. The largest enterprises (with average number of workers more than 10 thousand persons or balance cost of fixed capital for January, 1st, 1992 more than 150 million roubles), not entered into sections 2. 1 and 2. 2 present programs. 2. 3. 3. Movable and the real estate liberated in connection with reduction of Armed forces of the Russian Federation, except for the arms which are liable to destruction according to the international obligations of the Russian Federation, and also liberated property of the Ministry of safety of the Russian Federation and the Ministry of Internal Affairs of the Russian Federation. 2. 3. 4. The enterprises of railway, aviation, sea and river transport. 2. 3. 5. The building organisations and the enterprises of the all-Russian value and the enterprise of the all-Russian value for manufacture of building materials and designs. 2. 3. 6. State breeding and horse-breeding centres, selektsionno - the hybrid centres, the state seed inspections and laboratories on sortoispytaniju agricultural crops, sortoispytatelnye stations and sites, the enterprises and economy on manufacture valuable anadromnyh kinds of fishes, zverosovhozy (fur farms), the enterprises of national art crafts. 2. 3. 7. The higher and average special educational institutions, scientifically - research, design, design - prospecting and other objects, the enterprises and establishments of the Russian Academy of Sciences, branch academies, the Ministries of a science, the higher school and the technical policy of the Russian Federation, the Ministry of Education of the Russian Federation, Ministry of Health, the Ministry of ecology and natural resources of the Russian Federation, objects of the state centres of science. 2. 3. 8. Objects and the enterprises of the medical industry (including objects and the pharmaceutical industry and industry enterprises mediko - biological preparations), except specified in point 2. 1. 17 present programs. 2. 3. 9. Objects and the enterprises for manufacture spirit, likero - vodka, wine production and tobacco products. 2. 3. 10. Objects and the enterprises for manufacture of products of baby food. 2. 3. 11. State sanatorno - a resort economy. 2. 3. 12. Mobilisation stocks (at privatisation of the enterprises mobilisation stocks are excluded from structure of their property). 2. 3. 13. The enterprises of wholesale trade serving regions of the Far North and those categorised as such of district, including vahtovye settlements. 2. 3. 14. Objects nefteproduktoobespechenija.
Decisions on privatisation of objects and the enterprises included in section 2. 3. The present program, accepts the State Property Committee of Russia. The ministries and departments of the Russian Federation on its representation draw the conclusions on projects of these decisions.
at privatisation of objects and the enterprises specified in sections 2. 2. And 2. 3. The present program, Goskoimushchestvo of Russia decisions on fastening of controlling interests in the federal property for the term up to three years have the right to make.
the specified order is applied concerning those objects and the enterprises included in section 2. 3., which cannot be carried to item 2 items. 1. And 2. 2.

2. 4. Objects and the enterprises, which privatisation it is supposed only according to local programs of privatisation

2. 4. 1. Objects and the enterprises of city passenger transport, except taxi, and also the enterprises for its repair. 2. 4. 2. Baths and laundries. 2. 4. 3. The enterprises, the organisations and establishments on rendering of ritual services, except for specified in point 2. 1. 24 present programs. 2. 4. 4. Musoropererabatyvajushchie factories. 2. 4. 5. Drugstores (with obligatory state licensing of their activity). 2. 4. 6. Objects, the enterprises and establishments socially - cultural appointment (public health services, national education, culture and sports) irrespective of their departmental subordination (except specified in point 2. 2. 12 and the objects which are on balance of the enterprises and the organisations).
Decisions on privatisation of objects and the enterprises included in section 2. 4 present programs, are accepted by corresponding committee on management of property taking into account requirements of local programs of privatisation.

restrictions on the privatisation, established by the present program, are obligatory for all state governing bodies and local governments. Introduction by the specified bodies of additional restrictions on privatisation is not supposed...
restrictions on the privatisation, established in sections 2. 2, 2. 3 and 2. 4 present programs, do not mean an interdiction for transformation of the state (municipal) enterprises in the open joint-stock companies which are in the state (municipal) property.
purchase and sale, transfer, an exchange of shares Are forbidden (shares or their parts, actions) between legal bodies, in an authorised capital stock which (fund) the share of the state or municipal property makes 25 percent and more if other is not established by acts of the Russian Federation.

2. 5. Objects and the enterprises which are subject to obligatory privatisation.
objects and the enterprises to the greatest degree influencing formation and functioning of a market infrastructure of economy of the Russian Federation, and also objects and the enterprises which insufficiently effective activity constrains rates of economic development of Russia and market formation are subject to Obligatory privatisation.
such objects and the enterprises are: 2. 5. 1. Objects and the enterprises of wholesale and retail trade (including on production sale it is industrial - technical appointment), public catering and consumer services (including departmental objects of an open network of retail trade, public catering and consumer services); 2. 5. 2. Objects and the enterprises (organisation) of building and the industry of building materials; 2. 5. 3. The state agricultural objects and the enterprises, including poultry-farming (except state farms); 2. 5. 4. The enterprises which are carrying out processing of agricultural production, serving agricultural production and making production it is industrial - technical appointment for its maintenance; 2. 5. 5. The enterprises food and light industry; 2. 5. 6. The unprofitable enterprises of all branches of a national economy, except specified in section 2. 1 present program; 2. 5. 7. The preserved objects and objects of not complete building for which have expired standard terms of building; property of the enterprises liquidated without an establishment of assignment. 2. 5. 8. The motor transport enterprises, except specified in point 2. 4. 1 present program... 4. Specifications of distribution of means from privatisation in 1992 and the forecast of their receipt in 1992 - 1994

4. 1. In 1992 - 1994 privatisation of the state and municipal enterprises will be spent on vozmezdnoj and a gratuitous basis.
the forecast of receipts of means from privatisation... Will make 72 mlrd roubles, including: from personal means of citizens - 15 mlrd rbl.; from funds of provision of economic incentives of the enterprises - 32 mlrd roubles; from means of foreign investors - 10 mlrd roubles.
in the fourth quarter 1992 additional solvent demand of the population will be provided by introduction of nominal privatisation accounts (privatisation checks). 4. 2. The forecast of receipts of means from privatisation in 1993 and is calculated 1994 on the basis of solvent demand for objects of privatisation in various branches and regions and will make: in 1993 - 350 mlrd roubles; in 1994 - 470 mlrd roubles.
nominal privatisation accounts, privatisation funds of the enterprises will be the basic source of means for acquisition of privatised objects during this period... 4. 6. Committees on management of property and funds of property of all levels are not taxed. 4. 7. The state taxes under certificates and privatisation transactions are not raised.

5. Ways of privatisation and the privileges given at privatisation in 1992

5. 1. The concrete way of privatisation of the enterprise is defined by corresponding committee on management of property by results of work of the commission on privatisation...
the property contributions brought by the state (municipal) enterprises in an authorised capital stock (fund) of the enterprises, created in any organizational - legal forms (including - associations of the enterprises), admit being in the state (municipal) property. Entering by the enterprises of the specified contributions is supposed only with the permission of corresponding committees on management of property...
creation of the enterprises in any organizational - legal forms by associations of the state (municipal) enterprises, and also state governing bodies, local governments, except for committees on management of property and the funds of property operating according to their competence, the Russian Federation defined by the legislation is not supposed... 5. 2. All state (municipal) enterprises for their relation to used ways of privatisation are divided into three groups: the small enterprises (with average number working to 200 persons and balance cost of fixed capital as of January, 1st, 1992 less than 1 million rbl.) Are subject to sale at auctions (competitions) according to requirements of the present program; the enterprises with average number of 1000 persons working more or balance cost of fixed capital as of January, 1st, 1992 more than 50 million roubles are privatised by transformation to open joint-stock companies; other enterprises can be privatised any of the installed ways according to requirements of the present program.

5. 3. In 1992 use of next ways of privatisation in an order established by the present program is provided: sale of actions of open joint-stock companies; sale of the enterprises at auction; sale of the enterprises at commercial competition (including with restriction of structure of its participants); sale of the enterprises at noncommercial investment competition (the investment auctions); sale of property (actives) of the liquidated and liquidated enterprises; the repayment of the rented property. 5. 4. At sale of actions of the open joint-stock companies created by transformations of the state and municipal enterprises (including before transformed to the closed joint-stock companies), under the offer of labour collective of the enterprise one of following variants of granting of privileges to members of labour collective of the privatised enterprise is applied, and these privileges extend on: workers for whom the given enterprise is the basic place of work; the persons having the right according to the legislation of the Russian Federation to return on a former place of work at this enterprise; the pensioners who have retired from this enterprise; the persons dismissed from this enterprise for reduction of number of workers after January, 1st, 1992 and registered as the unemployed.

a variant 1.
to All members of labour collective of the privatised enterprise the nominal exclusive (not voting) stock making 25 percent of an authorised capital stock, but in a total sum no more than 7 thousand roubles on the average counting on one worker are at a time gratuitously transferred; sale of ordinary actions to 10 percent of an authorised capital stock, but in a total sum no more than 2 thousand roubles on the average counting on one worker, 30 percent from their face-value and representation of instalments till three years are on sale on a subscription to members of labour collective at a discount, thus the size of an initial payment cannot be less than 15 percent of a face-value of actions; (The head, its assistants, the chief engineer, the chief accountant) on the terms of prisoners with them of contracts is represented to officials of administration of the privatised enterprise the right (option) to acquisition of ordinary actions at a face-value, components in a total sum on all specified persons in limits to 5 percent from authorised capital stock size.

a variant 2.
the right of acquisition of the ordinary (voting) actions making to 51 percent from size of an authorised capital stock is given to All members of labour collective of the privatised enterprise. In this case the gratuitous transfer of stock and sale of actions on favourable terms is not carried out; sale price of actions is defined according to the position confirmed by the State Property Committee of Russia; At transformation of the state and municipal enterprises to joint-stock companies committees on management of property on the offer of administration of the privatised enterprise with the consent of labour collective can personally give to workers of the enterprises entering into a uniform technological complex with the privatised enterprise, the right of participation in the closed subscription to the action spent among workers of the privatised enterprise; the total of the actions which are subject to sale to workers of the privatised enterprise and the enterprises, entering with it in a uniform technological complex, cannot exceed 51 percent from size of an authorised capital stock of joint-stock company.

a variant 3.
If the group of workers of the enterprise incurs responsibility for performance of the right of privatisation of the enterprise, a non-admission of its bankruptcy and receives the consent of general meeting of labour collective to the decision of the corresponding contract which period of validity cannot be more than one year (without the prolongation right) the right (option) to acquisition after conditions of the mentioned contract of 20 percent of an authorised capital stock in the form of ordinary actions of the enterprise for their face-value is given to members of such group. In case of default by group of treaty provisions the right (option) is lost also actions go on sale when due hereunder.
for validity to the specified group the right to voting in 20 percent of the voting actions belonging to corresponding fund of property is transferred.
the privatisation plan joins the treaty provisions which conclusion with the specified group corresponding fund of property is obligatory. In the contract obligations of members of group and limits of their liability the property belonging to them on the right of a private property (brought in the form of pledge), a minimum of 200 minimum sizes of legislatively established monthly level of payment on each member of group make a reservation.
at the given variant to all workers of the enterprise (including members of group) the ordinary actions making 20 percent of size of an authorised capital stock, but for the sum no more than 7 thousand roubles on the average counting on one worker, at a discount 30 percent from their face-value and with instalments granting for 3 years are on sale. Thus the size of an initial payment cannot be less than 20 percent of a face-value of actions.
the Variant 3 can be applied only at the enterprises with balance cost of fixed capital from 1 to 50 million roubles and number of workers more than 200 persons.
the decision on a choice of the second or third variant of granting of privileges is accepted by general meeting of labour collective, or makes sure subscription lists of its members. The decision is considered accepted if for it has voted (has subscribed) not less than two thirds of total number of workers of the enterprise. In the absence of the specified decision of a privilege are given according to the first of the specified variants.
in all variants of 10 percent of the means which have arrived from sale of actions (except for the actions, sold to members of labour collective of the privatised enterprise), are enlisted on personal personal accounts of privatisation of its workers.
the Order of distribution of gratuitously transferred actions (at a choice of the first variant), and also distribution and transfer of means for privatisation personal accounts is defined by the decision of general meeting (conference) of labour collective.
sale of actions to workers of the enterprises within the privileges established by the present program, is carried out on the closed subscription according to the position confirmed by the State Property Committee of Russia. If the subscription sum surpasses the sizes provided by the selected variant, the commission on enterprise privatisation reduces shares of all workers in an equal proportion to observe the specified restriction.
the actions got or gratuitously received in an order specified above, and also got on other conditions according to Position about sale of the actions, the confirmed State Property Committee of Russia, can be on sale shareholders without restriction... 5. 6... Sale at commercial competition with restriction of structure of participants is supposed, according to local programs of privatisation, only at privatisation located in countryside, settlements of city type, in regions of the Far North and the districts of trading enterprises equal to them, public catering and consumer services of the population, the enterprises which are carrying out primary processing of agricultural production, is industrial - agricultural production maintenance service. To participation in such competition workers of the privatised enterprise, inhabitants of the given district and the persons deported from given district (including for limits of the Russian Federation) in mass reprisals are supposed only.
on investment competition (at the investment auctions) the state and municipal enterprises when from buyers realisation of investment programs is required are on sale. Thus the property right is transferred to the buyer which offer in the best way corresponds to the criteria established by the plan of privatisation... 5. 7. Physical and to the legal bodies who have become by proprietors of the privatised state and municipal enterprises at auction (competition), the right to the conclusion long-term (for the term of not less than 15 years) lease contracts of state (municipal) uninhabited premises engaged in these enterprises, buildings, the structures which were not a part of property got by them, and also on acquisition in the property of the specified premises, buildings of structures (not earlier than in one year after coming into force of the contract of purchase and sale of the enterprise) and the ground areas occupied with the enterprises, in an order established by the government of the Russian Federation is given. Change of conditions in comparison with earlier concluded these enterprises lease contracts of the specified premises, buildings, structures is supposed only as agreed if other is not provided by treaty provisions. 5. 8. In cases if at carrying out of auction (competition) on sale of the privatised enterprises physical or the legal body recognised as the buyer according to article 9 of the Law of RSFSR About privatisation of the state and municipal enterprises in the USSR is the unique participant of auction (competition) the enterprise is on sale to the specified person at the price defined in an order, established by the State Property Committee of Russia. This sale is carried out within two weeks from the date of carrying out of auction (competition) by corresponding fund of property. Privileges to workers of the enterprise which have become by its buyers, in this case are not given. 5. 9. Sale of property (actives) of the liquidated and liquidated enterprises is spent exclusively at auction... 5. 11. The right to the repayment of the rented property is given to the associations created by labour collectives of structural divisions, the enterprises allocated from structure created by labour collectives of the state (municipal) enterprises before coming into force of the Law of RSFSR About privatisation of the state and municipal enterprises in RSFSR on the basis of rent of property of these enterprises and not having such right according to the lease contract... 5. 12. In 1992 the state and municipal enterprises (irrespective of restrictions on their privatisation) at the expense of the rests of funds of provision of economic incentives and the profit remaining at their order, can create privatisation funds with opening of personal personal accounts of privatisation of workers. The means enlisted on personal accounts of privatisation of workers, are not subject to the taxation.
in 1992 all rests of funds of provision of economic incentives can go to privatisation fund as of January, 1st, 1992 and to 50 % of actual profit, being at the command the enterprises after payment of taxes and other obligatory payments.
to privatisation fund do not go: the profit received from realisation of the basic means of the enterprise; depreciation charges.
after privatisation of the state and municipal enterprises the means enlisted on personal personal accounts of privatisation of workers, remain at their order. At dismissal of the worker the means enlisted on its personal personal account of privatisation, can be listed under its statement on other personal account of privatisation specified to it.
the Property right concerning means for the personal personal account of privatisation of the enterprise can pass to other persons as inheritance and donation. Means of personal personal accounts of privatisation can be used workers only on acquisition of any objects of the state and municipal property in the course of privatisation. 5. 13. With a view of protection of interests of workers of the privatised enterprises from the moment of decision-making by labour collective on transfer of the demand for privatisation of the state (municipal) enterprise, division or from the moment of application by another physical or the legal body and till the moment of occurrence of the property right at the buyer (carrying out of the first meeting of shareholders) it is forbidden without the consent of corresponding committee on management of property: to carry out reorganisation, liquidation and change of structure of the enterprise; To change and terminate prisoners before contracts on rent of premises occupied with the privatised enterprises, buildings, structures.
during this period change of the list of staff of the enterprise, reduction of number of its workers without the decision of labour collective of the enterprise (division) or the body authorised by it also is forbidden.

5. 14. In 1992 following side benefits are established at privatisation of the state (municipal) enterprises:... At privatisation of the enterprises of the mining industry located in regions of the Far North and equal to them mestnostjah, the privileges provided by the present program for members of their labour collectives, extend also on the former workers of these enterprises which have worked on them not less of 5 years, and those members staratelskih the artels renting property of these enterprises which have worked in them not less than 5 seasons...

6. Privatisation credit conditions in 1992

Commercial banks of the Russian Federation and foreign banks can carry out crediting of transactions of privatisation without restrictions.
credit resources are not allocated with the central bank of the Russian Federation for these purposes...

7. Use of nominal privatisation contributions of citizens in 1992

7. 1. Not later than November, 1st, 1992 the system of nominal privatisation accounts (checks) is entered. To the government of the Russian Federation not later than one month prior to the beginning of payments under nominal privatisation accounts (delivery of checks) to submit for approval to the Supreme body of the Russian Federation a total sum which is subject to payment in the form of nominal privatisation contributions (checks), and the sizes of payments to one citizen. 7. 2. For service of the reference and distribution of means from nominal privatisation accounts committees on management of property and funds of property of all levels create and promote creation of financial institutions (the investment companies, funds and others) and provide wide attraction to participation in them of enterprise structures. 7. 3. The State Property Committee of Russia and local committees on management of property with a view of acquisition by citizens of privatised property at the expense of means from nominal privatisation accounts (checks) till September, 1st, 1992 provide transformation of the enterprises with balance cost of fixed capital as of January, 1st, 1992 more than 50 million roubles in open joint-stock companies, except for the enterprises forbidden to privatisation according to section 2. 1. The present program. With that end in view the duty is assigned to heads of the specified enterprises on working out of projects of constituent documents of joint-stock companies and the plans of their privatisation made according to requirements of the Law of RSFSR About privatisation of the state and municipal enterprises in RSFSR the present program and the typical documents confirmed by the government of the Russian Federation. The projects of plans of privatisation co-ordinated with labour collectives are represented by heads of the enterprises to corresponding committees on management of property till September, 1st, 1992.

8. Use of foreign investments

8. 1. Use of foreign investments at privatisation is carried out with the following provisions: the foreign investor can participate in auction, competition, the investment auctions. At fulfilment of transactions with foreign investors the seller of privatised property exclusively corresponding funds of property act;... Participation of foreign investors in privatisation of objects and trading enterprises, public catering, population consumer services, and also small (to 200 persons of average number working or with balance cost for January, 1st, 1992 to 1 million roubles) the enterprises of the industry and building, motor transport is supposed only under the decision of local Councils of People`s Deputies or bodies, them of representatives; the decision on the admission of foreign investors to participation in privatisation of objects and the enterprises toplivno - a power complex, on extraction and processing of ores of precious metals, precious and semiprecious stones, radioactive and rare-earth elements is accepted by the government of the Russian Federation simultaneously with decision-making on an admissibility of privatisation of objects and the enterprises.
other restrictions on participation of foreign investors in privatisation it is not imposed. 8. 2. Mutual calculations with the foreign investor at transaction fulfilment are carried out in currency of the Russian Federation from the special accounts opened in banks according to the legislation of the Russian Federation.
use at privatisation of rouble actives of foreign investors and the enterprises with foreign investments is carried out in an order provided by the legislation of the Russian Federation. 8. 3. The foreign physical persons who have been not registered as businessmen in country of origin, admit foreign investors concerning their participation in privatisation.

11. Requirements to local programs of privatisation

... 11. 4. Local committees on management of property with the consent of the State Property Committee of Russia and local Councils of People`s Deputies can make changes to local programs of privatisation.