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Establishment of a Mutual Fund Pursuant to Article 8 of the Law on Transformation and Privetization of State-owned and Municipal Enterprices, August 1994


The legal framework of privatisation was established in 1992. Its basis is the Law on Transformation and Privatisation of State- Owned and Municipal Enterprises (LTPSME). As it is the tradition of the legal system in Bulgaria, the Law has a framework character, which means that its implementation requires adoption of some regulations and laws to detail some of the provisions of the Law. One of the issues which had to be legislated with follow-up legal documents is the regulation of privatisation revenues use.

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