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

The information on the sale of shares is published, in the case of registered capital exceeding SO million roubles, in the Bulletin of the Russian Fund of the Federal Property not later than a month prior to the issue of shares to a free sale. The founder of an open joint-stock company formed on the basis of a state enterprise is the State Committee for Property of the Russian Federation or its territorial agency, which in accordance with Article 34 of the RSFSR Law “On Enterprises and Business Activity” passes the decision on the organization of a joint-stock company, the application for its registration, its Charter and the certificate on the payment of state duties for the registration to the Local Soviet of People’s Deputies. After registration, the property committee passes the rights of the founder and the block of shares to the corresponding property fund. The fund sells the shares to the members of the work collective of the enterprise being converted to a joint-stock company under favorable conditions (Art. 23) during a month after the registration of the company. A part of the shares can be passed to the joint-stock fund of the personnel of the enterprise or exchanged for shares of investment funds. Then, 10 per cent of the total number of shares are sold at an auction. The remaining part of the shares is sold on the market of securities every month in equal portions during the subsequent six months, or during a longer time interval. Irrespective of the way the privatization is carried out, an agreement is made between the seller and the buyer that includes the information concerning the seller and the buyer, the name of the enterprise and its location, the content and the price of the assets of the enterprise, including the price of the plot or the conditions under which it is rented, the number and price of the shares of the company, the order of the conversion of the enterprise, the form and the due time of payments, the other conditions being established by mutual agreement. In the general form, this approach can be presented as follows. The Organizational and Functional Structure of Management of the “Sevryba” Joint-Stock Company and of Companies Based on Separate Enterprises 1 2 0