Supreme Council of the Republic of Lithuania

Supreme Council of the Republic of Lithuania Supreme Council of the Republic of Lithuania Resolution On the Law on Initial privatization of State-owned Property--Entry into Force The Supreme Council of the Republic of Lithuania resolves:

1. to establish that: 1) enterprises under privatization shall have no right prior to July 1,1992 to change their type of business without the approval of the Government of the Republic of Lithuania; 2) 1/3 of the property subject to privatization may be sold for money (roubles). Each person who ,pursuant to the provisions of Article 9 of this law is entitled to acquire the state property subject to privatization, shall be allowed to invest money (roubles) but not exceeding the amount of one-time allocation. Persons who shall purchase objects of privatization (or shares ) with money (roubles), in cases established by the Government of the Republic of Lithuania must submit declarations; 3) pursuant to this law the basic means of production acquired at an auction shall be prohibited to be taken away form Lithuania within the period of 2 years from the date of their acquisition; 4) the Central Privatization Commission shall be financed out of the state budget of the Republic of Lithuania. Privatization commissions of towns (or districts) and privatization agencies shall be financed out of the budgets of local governments of the higher level. 5) objects of privatization the value of which does not exceed 200 million roubles shall be sold for freely convertible currency on the basis of a separate list approved by the Supreme Council of the Republic of Lithuania for the formation of currency reserves , and the receipts shall be allocated to the currency fund of the Republic of Lithuania.
2. To charge the Government of the Republic of Lithuania: 1) to adopt decrees necessary for the implementation of the Law on the Initial Privatization of State-owned Property; 2) to submit by 30 March, 1991 to the Supreme Council of the Republic of Lithuania the draft of the amendments to the provisional law of the Republic of Lithuania "On the Accumulation of Private Capital at State Enterprises"; 3) to submit by 30 March,1991 the list of the members of the Central Privatization Commission to the Supreme Council of the Republic of Lithuania for the approval thereof;
3. To charge the Bank of the Republic of Lithuania : 1) in conjunction with the Savings Bank of the Republic of Lithuania and with the Agro-industrial Bank to establish by 30 March, 1991 the regulations governing the management of investment accounts and payments for the aquisition of objects of privatization (shares), and having received certificates issued by the local governments of the higher level with regard to one- time investment vouchers allocated to the citizens of the Republic of Lithuania, to open investment accounts with the banking institutions of Lithuania; 2) to work out regulations governing the payments for objects which are being acquired without applying money quotas in order to prevent the inflow of roubles from the USSR.
4. To authorize the Inspectorate of Cultural Heritage together with relevant ministries to prepare by 15 April,1991 standard contracts on the utilization of cultural heritage subject to privatization and other documents established by legislative acts.
5. To authorize the Government of the Republic of Lithuania and the Inspectorate of Cultural Heritage to submit by May 31, 1991 to the Supreme Council of the Republic of Lithuania the list of the Objects of Cultural heritage which are not liable for privatization.
6. To authorize the local governments of the higher level: 1) to form by 30 March,1991 privatization commissions of towns (districts); 2) to form by 15 April, 1991 privatization agencies of towns (districts and to get ready for the publication of information bulletins of privatization as well as to work out drafts of privatization programmes of objects that are under the jurisdiction of local governments and to submit them to the Government of the Republic of Lithuania.
7. To authorize the commissions and agencies of privatization to permit the representatives of political parties, movements, and public organisations registered in the Republic of Lithuania to observe the activity of these commissions and to get aquainted with documents which they have available.
8. To establish that it is prohibited to privatize state enterprises, institutions or other state-owned property as well as to accumulate money form the citizens otherwise than it is provide for in this law. V.Landsbergis President Supreme Council Republic of Lithuania 14 March 1991 No I-1147