The bill on Treasury "golden share" takes shape

The so-called bill on golden shares currently prepared by prof. Stanisław Sołtysiński, co-author of the Commercial Companies Code (KSH), envisages that the State Treasury would be allowed to retain a so-called golden share in a maximum of ten state-owned companies. The author claims he based his solution on a similar one used in Belgium as, "The golden share was used in six EU states and only in Belgium did the Treasury managed to defend its right," explained Sołtysiński. Among the ten companies are those in the oil, energy, telecommunication and communication, defense and health sectors. The golden veto will give the Treasury the right to oppose the decision taken by the management through its observers who would have no voting power during management board meetings. "The golden share will not solve actual problems related to public and state security issue," said Deputy Economy Minister Jacek Piechota. (Parkiet, p. 3) M.M.