In Lithuania, the process of privatisation started in 1991, after the country declared independence. <\/p>\n\n\n\n
Throughout that period, the legal environment of the privatisation process materially changed \u2013 starting from the definition of the object of privatisation, assessment of objects of privatisation, settlement procedure and so on. Some of the laws, which were valid during the initial independence restoration period (when the economy of Lithuania was reshaped from a socialist to a market economy), were applied for a certain segment of buyers (Law on the Privatisation of Apartments, Law on the Privatisation of Agricultural Companies Property, Law on Privatisation of Defaulting State-Owned Companies).<\/p>\n\n\n\n
In accordance with the Law on the Initial Privatisation of State-Owned Property of the Republic of Lithuania, during the period of 1991\u20131995, 5,706 objects of privatisation were privatised using investment monies; 2,923 of these objects were large and medium enterprises. <\/p>\n\n\n\n
In accordance with the Law on the Privatisation of State and Municipal Owned Property, 8,538 objects of privatisation have been privatised since 1995, 4,366 objects of which were state owned objects of privatisation (2,544 real estate objects and 1,822 company share packages). In accordance with this law, state-owned property worth EUR 1,671,244.00 was privatised. <\/p>\n\n\n\n
Currently, the privatisation process is being regulated by the Law on the Privatisation of Shares Owned by the State and Municipalities of the Republic of Lithuania and 15 October 2015 Government of the Republic of Lithuania Decree No 1131 \u2018On the Approval of the Execution Procedure Schedule of Privatisation Procedures\u2019.<\/p>\n\n\n\n
The object of privatisation \u2013 shares belonging to the state or municipality on the right of ownership, which are included in the List of Objects of Privatisation approved by the Government of the Republic of Lithuania, as well as shares transferred to the state, which are included in the List of Privatisation of Shares Transferred to the State approved by the controller of the centrally controlled state-owned property.<\/p>\n\n\n\n
Turto Bankas, by following the provisions of the Law on the Amendment of Privatisation of Shares Owned by the State and Municipalities of the Republic of Lithuania, which came into force on 10 June 2022, as well as the 16 November 2022 changes to the 5 October 2015 Government of the Republic of Lithuania Decree No 1131 \u2018On the Approval of the Execution Procedure Schedule of Privatisation Procedures\u2019, prepares and publishes the reviews of privatisation of state-owned shares.<\/p>\n","protected":false},"featured_media":0,"parent":111850,"menu_order":15,"template":"templates-about-us\/privatization.php","class_list":["post-119850","about-us","type-about-us","status-publish","hentry"],"acf":[],"yoast_head":"\n