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By OECD

In 2005, OECD released a stocktaking of the company governance framework within the organizations member international locations. This booklet was once the root on which the OECD guidance on company Governance of State-Owned corporations (the SOE directions) used to be built. it's been largely quoted in educational literature, in reputable files and through practitioners. notwithstanding, the SOE panorama in OECD international locations has replaced considerably in view that 2005 and 4 new international locations became participants of the enterprise. This e-book presents an replace of adjustments considering that 2005, organised based on the most sections of the SOE instructions: the criminal and regulatory framework for SOEs; the country appearing as an proprietor; equitable remedy of shareholders; kin with stakeholders; transparency and disclosure, and the obligations of the forums of SOEs.

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Additional info for Corporate Governance of State-Owned Enterprises: Change and Reform in OECD Countries since 2005

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Of the new member countries, only Chile requires SOE boards to carry out annual assessments of their functioning. These may rely solely on self evaluation, or involve external facilitators. In the other countries, evaluations are not uncommon especially in large SOEs (to which may be added evaluations of the management board by the supervisory board in Slovenia’s two-tier structure), but they are not mandatory. CORPORATE GOVERNANCE OF STATE-OWNED ENTERPRISES: CHANGE AND REFORM IN OECD COUNTRIES SINCE 2005 © OECD 2011 52 – 2.

SOEs have to disclose these reports on their websites. Shareholder information is reported in real time to a national shareholder register. Disclosure by SOEs is subject to the Freedom of Information Act. Exceptions are made to safeguard corporate confidentiality for SOEs in competitive sectors. SOEs must maintain a shareholder register accessible by the public. Discrimination between shareholder groups is legally forbidden. SOEs maintain a shareholder registration either with the securities regulator (joint stock companies) or in the Court register (others).

Competitive conditions regarding the access to finance. Commercially operating SOEs do normally not have access to concessionary finance – and in several new member countries are barred from borrowing from state-controlled institutions. g. in infrastructure), soft loans and guarantees from the public budget are not unheard of. CORPORATE GOVERNANCE OF STATE-OWNED ENTERPRISES: CHANGE AND REFORM IN OECD COUNTRIES SINCE 2005 © OECD 2011 36 – 2. 1. Changes in legal and regulatory frameworks Chile Estonia Israel Slovenia Separation between ownership and other state functions Most SOEs are overseen by an ownership agency and their reporting monitored by securities regulators.

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