OREANDA-NEWS. On February 19, 2008 the President of the Republic of Belarus signed Decree No.100 designed to regulate some issues pertaining to ownership surveillance, reported the Official website http://president.gov.by.

This legal document identifies persons who can be appointed government representatives to the managing bodies of economic societies which shares (shares in statutory funds) belong to the Republic of Belarus. These persons can be both employees (including government employees) with bodies and organisations of state administration, which are authorised to manage the shares (i.e. carry out ownership surveillance), and the citizens who have concluded civil law treaties with such bodies and organisations.

With this document the Government has laid down the procedure of appointing the government representatives; set the grounds for terminating their powers; identified the requirements they should meet, their rights and obligations.

As from 1 April 2008, the pecuniary recompense for these persons shall directly depend on the profitability of the respective economic society and its after-tax profit as reported at the end of the respective accounting period.