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For creation of primary securities market and decrease in risk of buyers of actions investment funds are created. The investment fund has the right to own no more than 10% of voting shares of one joint-stock company and to place no more than 5% of the assets in its securities. Activity of investment funds annually is exposed to an obligatory audit inspection.

Various ways of privatization are provided in the Gosudartvenny program: sale of shares of open joint stock companies; sale of the enterprises at auctions, at commercial competition (including with restriction of number of its participant, at the investment auction; sale of property (an asset of the liquidated enterprises; repayment of arid property. The concrete way of privatization is defined by the relevant committee on management of property by results of work of the commission and with opinion of labor staff of the enterprise.

In case of adoption of the plan of privatization the enterprise joins the relevant committee in the plan schedule of competitions, auctions, incorporating. The technological scheme of process of privatization is given below. An important point is preparation of the enterprise for privatization which includes carrying out inventory of business and non-productive assets, reorganization of the enterprise, including allocation of its divisions in the independent.

The first meeting of shareholders is held not later than in 12 months from the date of registration. At this meeting governing bodies of society are formed. Before functions of executive management of joint-stock company are executed by earlier appointed heads, and functions of board of directors of society — fund (committee).

Calculations and practice show that the first option should be chosen when the enterprise is in difficult financial and economic situation. If the enterprise works well, gets normal profit, it is better to accept the second option. Thus the enterprise acquires more real rights taking into account existence of the main equity stake (51%).