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  • Governmental and municipal unitary enterprises
    Governmental and municipal unitary enterprises (UP) are the ones which have no right of
    ownership for the property assigned to them by the general owner. This property is in the
    ownership of government (federal or federal subject) or municipality and is non-distributable.
    There are two types of unitary enterprises:
    1. Established on the right of economic jurisdiction (have wide economic independence, act
    as common manufacturers to a large extent, along with this the owner of the property as a
    rule is not liable for the debts of such company);
    2. Established on the right of operational management (state-run enterprises), to a large
    extent are similar to enterprises under the planned economy, the government bears the
    subsidiary liability under their commitments if there is not enough their property.
    The Articles of Incorporation of a Unitary Enterprise are approved by the authorized
    governmental (municipal) body and contain:
     The name of the enterprise with the defining the owner (for state-run – with the defining
    the fact that it is state-run) and its location;
     The procedure of activity management, the subject and the aims of activity;
     The amount of the authorized fund, the procedure and the source of its formation.
    The authorized fund of a unitary Enterprise is fully paid by the owner before state registration.
    The Amount of the authorized fund is not less than 1000 values of minimum monthly rate of
    labour paymentas on the date of the issuing the documents for registration. If the value of net
    assets is less than the amount of the authorized fund on the termination of the financial year, the
    authorized body is obliged to reduce the authorized fund and the enterprise is to inform the
    creditors about it. A Unitary Enterprise can establish subsidiary unitary enterprises by
    transferring them a part of property to the operating control.
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