Ukrainian President Viktor Yanukovych on March 15, 2012 signed a law on the specifics of the creating a state joint-stock company for public railway transport, reads a posting on the Web site of the Ukrainian parliament.
According to the law, the company will be created as a public joint-stock company with 100% of its shares owned by the state. The new entity will be formed through the merger of State Railways Administration Ukrzaliznytsia, and public railway enterprises, institutions, and organizations. In addition, the company’s charter capital will include shares and stakes owned by the state in companies created with the participation of railway transport enterprises.
According to the draft document, the cabinet is obliged within one month from the date the decision on the creation of the company to approve the staff of a commission to establish the company, including representatives from the Infrastructure Ministry, Ukrzaliznytsia, the State Property Fund, the Economic Development and Trade Ministry, as well as the relevant trade unions.
The commission should within four months of the date of its creation prepare and submit to the government a consolidated transfer deed, and a consolidated deed on the evaluation of the railway transport property complex that is subject to corporatization.
The cabinet within a month should consider and approve the documents, as well as the plan of share placement, the company statute, and a list of its staff.
According to the draft, the size of charter capital of the company will be defined in line with a certificate on the assessment of its property. Then the body empowered by the cabinet within a week after the approval of the regulations will submit the regulations and a decision on the creation of the joint-stock company for state registration.
The creation of the joint-stock company will be in line with the state program on the reform of railway transport via the formation of vertically integrated divisions in types of operations: freight shipments, domestic and international passenger transportation, suburban and regional passenger transportation, the maintenance and exploitation of infrastructure, providing locomotive services, the repair of rolling stock, the construction and repair of infrastructure facilities, research and design work, maintenance of the social sphere, etc.
As reported, the Ukrainian parliament after a repeat second reading on February 23, 2012 passed draft law No. 9337 on the specifics of creating a state joint-stock company for public railway transport. A total of 232 lawmakers supported the law.
