Korelsky, V. F. Fish, fishermen and fish industry in Russia / V. F. Korelsky. - Bremen : Krebs, [1993?]-.

enterprise if such a fund is formed as a portion of the registered capital of the enterprise. This fund is formed at the expense of the contribution of the Russian Fund of the Federal Property or the property funds of the administrative and territorial formations. The size of this fund cannot exceed 10 per cent of the registered capital of the enterprise either. After the discussion on all these conditions the further actions reduce to a complex of measures exposed in detail in the Privatization Law. The initiative concerning the privatization of a state enterprise can come from the State Committee for Property of the Russian Federation, the director of an enterprise, the work collective, a shop, a department, or some other division of an enterprise The application of the work collective is accepted t o consideration when it is signed by no less than half the members of the work collective. The application for privatization is passed on to the State Committee for Privatization of the Russian Federation or to its territorial agency and must be considered within a month. The decision, in a written form, is brought to the notice of the people, legal persons or work collectives which made the application. If the decision concerning the privatization is positive, a commission for privatization is formed at the enterprise and the time for the preparation of the privatization plan is determined. This time period cannot exceed six months from the date of passage of the application. The commission must include representatives of the State Committee for Property of the Russian Federation, of the Soviet of People’s Deputies of the territory where the enterprise is located, representatives of the financial organs, the administration and the council of the work collective. The commission can take advice from experts and turn to specialized auditor, consultative and such other organizations. The commission makes the plan of privatization of the enterprise, coordinates it with the Local Soviet of People’s Deputies and the work collective of the enterprise. The plan is approved by the corresponding committee for the management of the property which defines the ways and the rates of privatization, the starting price of the enterprise, the amount of the registered capital of a joint-stock company or a partnership, the recommended form of payment. The plan of privatization of an enterprise can also include the project of its reorganization which can envisage, in particular, a separation of its departments into independent enterprises (with their registered capitals defmed), or the sale of the assets of the enterprise. If the work collective does not approve of the plan of privatization, the commission must suggest another variant. If the work collective rejects the plan of privatization for the second time, the final decision concerning the changes that must be introduced into the plan, the way and order of carrying out the privatization is adopted by the corresponding Soviet of People’s Deputies. The privatization commission determines the starting amount of the registered capital of a joint- stock company on the basis of evaluation of the enterprise according to its supposed profitability. 1 1 9