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Monday, August 3, 2020 | History

2 edition of legal appraisal of the privatisation of public enterprises found in the catalog.

legal appraisal of the privatisation of public enterprises

M. T. Okorodudu-Fubara

legal appraisal of the privatisation of public enterprises

by M. T. Okorodudu-Fubara

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Published by M.T. Okoroduda-Fubara in [Ile-Ife, Nigeria] .
Written in English


Edition Notes

PRIORITY 3.

Statementby M.T. Okorodudu-Fubara.
Classifications
LC ClassificationsIN PROCESS
The Physical Object
Paginationxiv, 59 p. ;
Number of Pages59
ID Numbers
Open LibraryOL2235912M
LC Control Number89105450

Privatization (or privatisation in British English) can mean different things including moving something from the public sector into the private is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated. Government functions and services may also be privatised (which may also be known as "franchising" or "out. In any case, state-owned enterprises should be restructured prior to privatization, and proper regulation should be put in place to make sure future owners of SOEs don’t exploit their position as de facto monopolists at the expense of the public. As a general rule, at least two investors should be shortlisted for any privatization effort to.

Search the world's most comprehensive index of full-text books. My library. As the paper outlines, privatization of public enterprises has been a much-debated subject over the years. To define, “privatization is the procedure of transferring possession of a business, enterprise, agency, or public service from the public sector to the private sector”.

shares in private and public enterprises (); trebilcock & prichard, crown cor- porations: The Calculus of Instrument Choice, in CROWN CORPORATIONS IN CANADA 1, . Techniques of privatization of state-owned enterprises: methods and implementation (English) Abstract. This report was initiated largely in response to interest by member governments and staff of the World Bank for information on the practical aspects of privatization of state-owned enterprises.


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Legal appraisal of the privatisation of public enterprises by M. T. Okorodudu-Fubara Download PDF EPUB FB2

A number of public enterprise (PE) executives have long felt the need for a book which would provide necessary information and analysis of various dimensions of PE management and privatisation. The book provides at one place, a precise and authoritative account of the concept, policy, and analysis of major issues confronting PEs.

The legal framework, for the program is the Public Enterprises (Privatization and Commercialization) Act and it consists of the Vice President as Chairman, the Minister of Finance as vice chairman; the Attorney-General of the Federation and Minister of Justice; the Minister of Industry; and a host of others as provided in S.

10 of the Act. The privatization of large state-owned enterprises is one of the most radical policy developments of the last quarter century. Right-wing governments have privatized in an effort to decrease the size of government, while left-wing governments have privatized either to compensate for the failures of state-owned firms or to generate revenues.

In this way, privatization has spread from Europe to. In the liberalization era, competitiveness of industry, be it public or private, assumes great importance for their very survival. The question of privatization of public enterprises arises because of their poor financial and operating performance.

Public enterprises in India incur chronic losses, require state financed equity injections and credit from the banking system.

sells or transfers ownership of public assets to the private sector, with the government having no role in the financial support, management or oversight of a sold asset.

A possible result of this form of privatization is that a public agency may become a regulatory body over a former public asset or enterprise system if new ownership results.

The case for privatization, whether defined in a broad or narrow sense, has been forcefully made by its advocates against the backdrop of the much advertised poor performances of state-owned enterprises (SOEs) and theoretical arguments relating to the efficiency of private firms over public enterprises.

(e) approve the legal and regulatory framework for the public enterprises to be privatised; (f) determine whether the shares of a listed public enterprise should be by public or private issue or otherwise and advise the Government of the Federation, accordingly; (g) determine the time and when a public enterprise is to be privatised.

public enterprise to private investors”. 9 The later meaning has the advantage of helping one to draw a line between privatisation and other varieties of public enterprise reform.

It is also the sense in which the term has been statutorily defined in the legislations on privatization in Nigeria. Political Dictionary: privatization The transfer of public assets to the private sector, by sale, or contracting out.

After some hesitant and small-scale experiments by the Heath Government ofUK privatization on a large scale was undertaken by the Thatcher Government after corporations, government business enterprises, government-linked companies, parastatals, public enterprises, public sector units or enterprises and so on.

As well as the name, the definition of SOEs also often varies across countries. Research4 suggests that there is a wide range of legal forms for SOEs, depending on factors such as. Public and Private Enterprise in a Mixed Economy, London: The Macmillan Press Ltd.,pp (4) World Bank, World Development Report, Oxford, Oxford University Press,pp.

Privatization: A Solution to Problems of Public Enterprises 35 (4) State-owned enterprises contributed to the augmentation of the external debt of.

Privatization is the process of transferring the ownership and control from public to private sector. Public enterprises came into existence with the aim of producing and distributing products and services of daily necessities at a reasonable price.

The policy of privatization in Nepal was specified for the first time in the sixth plan ( - 42). (e) approve the legal and regulatory framework for the rises to be pri vatised; (f) determine whether the shares of a listed public enterprise should be by public or private issue or otherwise and advise the Government of the Federation accordingly; (g) determine the time and when a public enterprise is to be privatised.

However, several other studies have noted that privatization of public enterprises would help to overcome the misuse of monopoly power, defective capital structure, mismanagement, corruption and.

A program of privatisation of public enterprises has been running for more than three decades and a Privatisation Board under a chairman with the status of state minister was set up inbut.

Commercialization is where a public company is given full autonomy to operate like a private one (in respect of operations, management and application of business-type decisions), without many changing ownership.

Under corporatization, the public enterprise is given the legal status of a private company, although government still retains ownership.

That privatisation has led to increased supply of quality goods and services on the market especially essential commodities (sugar, salt, soap, e.t.c) that were in short supply and a monopoly of SOEs in production and distribution. That privatisation has led to. Privatisation is defined in more general terms as the transfer of ownership and control from the public to the private sector.

This can be executed in a number of different ways. In countries where capital markets are developed, privatisation is effected through the sale of the enterprise's equity to the public.

In developing countries where. Symposium: Public Values in an Era of Privatization, Introduction, HARv. REV. In the common law world, "public law" refers to "[t]he body of law dealing with the rela-tions between private individuals and the government, and with the structure and operation of the.

Alternatively, Jomo Kwame Sundram and Tan Wooi Syn ()2 defined privatization as ‘the transfer of enterprise ownership from the public to the private sector’ as well as ‘changing the status of a business, service or industry from state, government or public to private.

hundreds of enterprises employing millions of people. Others have virtually none. The OECD does not take a position on whether or not public ownership of enterprises is a good idea.

However, we do say that a State that owns enterprises should ensure that these enterprises are held to high standards of corporate governance. Privatization is the process of for-profit entities taking over the management of public services like roads, schools, utilities and prisons.

Merits of privatization include increased efficiency and lower taxes. Consequences of privatization include corruption opportunities and inflexibility.Public Enterprises (Privatisation & Commercialisation) Act 2.

Ramamurti, R and R. Vernon et. al (), Privatisation and Control of State-Owned Enterprises, Economic Development Institute of the World Bank). 3. Ramanadham, V.V. et. al (), Privatisation: A Global .