Unitary enterprise
From Wikipedia, the free encyclopedia
Unitary enterprise is a form of a business in Russia and some other post-Soviet states is a commercial organization that has no ownership rights to the assets it uses in its operation. This form is possible only for state and municipal enterprises, operating with state or municipal property, respectively. The owners of the property of a unitary enterprise have no responsibility for its operation and vice versa.
[edit] Russia
The legal status of the Unitary enterprise in Russia is defined in the Law No. 161-FZ "On State and Municipal Unitary Enterprises", which was approved by the State Duma on October 11, 2002 and signed by President Putin on November 14, 2002.
The assets of unitary enterprises belong to the Federal government, a Russian region, or a municipality. An unitary enterprise holds assets under the right of economic management (for both state and municipal unitary enterprises) or operative management (for state unitary enterprises only), and that such assets may not be distributed among the participants, nor otherwise divided. An unitary enterprise is independent in economic issues and obliged only to give its profits to the state. Unitary enterprises would have no right to set up subsidiaries, but, with the owner's consent, can open branches and representation offices.
An example of such an enterprise is Mashpriborintorg.
