State / municipal unitary enterprise.

A unitary enterprise is a commercial organisation in which the ownership of the property does not pass to the organisation itself. Property of a state-owned or municipal enterprise is in government or municipal ownership and the enterprise has only rights of administrative control or operational management. Only state-owned and municipal enterprises can be created in the form of unitary enterprises. The unitary enterprise is managed by its director who is appointed by the owner or the body authorised by the owner and is accountable to them.

In 1997 the government decided not to continue with this form of organization. Nevertheless many of these enterprises still exist and actively conduct business.

 

 

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