• ITA GVT announced public shareholdings directive of Minister of Economy and Finance.
• Re procedures to appoint members of corporate bodies of ministry owned companies.
• Directive registered with the Court of Auditors on 9 February 2023 with number 128.

Overview

• It amends the directive of 31 March 2021 on designation of corporate bodies' members in relation to companies controlled by the Ministry of Economics and Finance (MEF).
• Establishes, inter alia, that in order to search for qualified candidates the companies should engage services of agencies specialized on top managers search and selection.
• There could be places reserved to representative of the ministry in the firms' boards.
• However, individuals who are shareholders of the relevant companies are excluded.
• Various other rules are set out including re communication, deadlines, involvement of Treasury division or Council of ministers' presidency in procedures' different stages.