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Divestiture of state enterprises : an overview of the legal framework (English)

Divestiture objectives, constraints and approaches differ widely from country to country and enterprise to enterprise. This paper presents a general approach for the development of a legal framework for divestiture of state-owned enterprises in the industrial and services sectors. It does not discuss divestiture of housing, land or agricultural enterprises. It is in no way exhaustive, nor does it purport to capture all the nuances of specific divestiture. On most of the topics covered, specific legal literature exists to which the reader should refer for further information. Macro-legal aspects of divestiture are emphasized, while legal issues arising at the transaction level (the micro-legal aspects of divestiture) will only be addressed incidentally. Non-legal aspects of divestiture are mentioned only to the extent needed for the purpose of the paper. The focus is thus on the development of an overall legal framework conductive to divestiture. The main purpose of this paper is to increase the legal awareness of officials involved in divestiture programs by providing an overview of the range, complexity and potential significance of legal issues that may be encountered.

Details

  • Author

    Guislain, Pierre

  • Document Date

    1992/09/30

  • Document Type

    Publication

  • Report Number

    WTP186

  • Volume No

    1

  • Total Volume(s)

    1

  • Disclosure Date

    2010/07/01

  • Doc Name

    Divestiture of state enterprises : an overview of the legal framework

  • Keywords

    law;legal framework;divestiture program;divestiture process;public law;transfer of property right;legal and regulatory framework;divestiture of state;privatization of state;list of privatization legislation;choice of privatization technique;general principles of law;free distribution of shares;national banking regulatory agency;access to new technology;private sector development specialist;satellite remote sensing;Rule of Law;fisheries and aquaculture;law and regulation;private law;divestiture law;sale of asset;transfer of ownership;economic reform program;joint stock company;form of divestiture;Merger and Acquisitions;legal system;public body;wildlife resource management;private business activity;divestiture of housing;Integrated Pest Management;capital markets legislation;ordinary corporate law;foreign exchange convertibility;transfer of security;ownership of asset;government business enterprise;law and economics;transfer of liability;private property right;commercial banking law;urban bus transport;public finance law;case of divestiture;joint venture agreement;regulation of monopoly;transfer of share;delegation of authority;protection of competition;outstanding public debt;general competition law;opportunities for corruption;act of parliament;foreign investment law;types of property;foreign investment promotion;applicable regulatory regime;public sector deficit;public finance legislation;protectionist trade policy;private ownership rights;statute of limitation;enactment of legislation;acquisition of property;piece of legislation;newly industrializing country;degree of autonomy;efficient capital market;state holding company;development of entrepreneurship;dispute settlement mechanism;promotion of competition;private economic agents;civil service regulations;choice of technique;concentration of wealth;dominant market position;legal aspect;political constraint;privatization program;telephone company;legal right;divestiture transaction;legislative reform;legal analysis;legal instrument;Administrative law;market structure;public asset;economic efficiency;private parties;private party;successful privatization;public flotation;Business Law;juridical personality;Property Law;Company Law;public property;market economy;constitutional requirement;legal entity;foreign investor;legal entities;private provision;statutory corporation;individual transaction;research need;foreign company;private investor;Technology Transfer;institutional framework;Environmental Assessment;share ownership;government's objectives;Socialist economies;price liberalization;labor legislation;natural monopolies;ownership transfer;competitive environment;

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Citation

Guislain, Pierre

Divestiture of state enterprises : an overview of the legal framework (English). World Bank technical paper ; no. WTP 186 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/532871468766240444/Divestiture-of-state-enterprises-an-overview-of-the-legal-framework