LAW RELATED TO IMPLEMENTATIONS OF PRIVATIZATION

Law Number : 4046

Date of Adoption : November 24,1994

Date and No. of Publication in the Official Gazette : November 27,1994 - 22124


NOTE: This translation made by myself is unofficial and for information purposes only. All rights of it are reserved as a translation anyway. Read this page first, please. Click "ÖZELLEŞTİRME UYGULAMALARI HAKKINDA KANUN" for full Turkish text of the Law.

 

Objective and scope

Article 1 – The objective of this Law is to regulate the principles for the privatization of;

A) Those specified in this article and to be mentioned with the name of "institution" in the implementation of the Law;

a) The state-owned economic enterprises, their institutions, subsidiary companies, business units and assets and the public shares of affiliates of them,

b) The Public shares in commercial establishments of which all or more than half of the capital belonging to the state and/or other public legal entities although they are out of the status of state-owned economic enterprises and public shares in the affiliates of the institutions, subsidiary companies, business units and assets belonging to those enterprises,

c) The public shares of the State in its other affiliates and shares belonging to Treasury,

d) The assets that are not related directly with the services rendered of and the shares of the general and annexed budgeted administrations and the establishments with circulating capital affiliated to them and public economic organizations from state-owned economic enterprises,

e) The commercial aimed enterprises belonging to municipality and provincial special administrations and their shares in all kinds of affiliates of them regardless of share ratios,

f) The goods and service production units and assets (dams, ponds, motorways, inpatient treatment institutions, harbours and other similar goods and service production units) of the general and annexed budgeted administrations and the establishments with circulating capital affiliated to them and operation rights of the production units of the goods and services of the public economic organizations specified in the (B) paragraph of the 35 th Article of this Law that are appropriate to the basic establishment objectives of them,

in order to improve productivity in the economy and to reduce public expenditures.

B) This Law, by being aimed at the purpose mentioned above, includes the provisions related to;

a) Determination of establishment, duties an authorities of “The High Council of Privatization” and “The Directorate of Privatization Administration”,

b) Establishment of “The Privatization Fund” and “The Public Participation Fund” and determination of the sources and usage areas of these funds,

c) "Implementations of privatization",

d) Making the money collected in the "The Account of Encouragement of Employees’ Savings" gained interest,

e) Provision of the financial and social rights to those who may become unemployed as a result of privatization implementations from the personnel who works based on labour contract in the institutions that are taken the scope of the privatization,

f) Personal and social rights of the civil servantsworkingin theinstitutions that are taken the scope of the privatization.

The granting or leasing of the operating rights of the general and annexed budgeted administrations and their related production and service units and assets (dams, ponds, motorways, bedside treatment facilities, ports and other similar goods and service production units) and "privatization of state economic institutions and their enterprises, subsidiaries, enterprises, business units and assets by means other than the devolution of the ownership" defined in the Decree Law No.233.

Granting operating rights and leasing of the assets and the goods and service production units of the general and annexed budgeted administrations the establishments with circulating capital affiliated to them (dams, ponds, motorways, inpatient treatment institutions, harbours and other similar goods and service production units) and privatization of the public economic organizations and institutions, subsidiary companies, enterprises, units of enterprises and assests affiliated to them that have been defined in the Decree Having the Force of Law Numbered 233 with the procedures other than transferring of possession, shall be subject to the provisions of this Law. However, the issues related to the transferring of the possession of these institutions shall be regulated by different laws according to the basics and characteristics of the public service which they render.

 

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