CROATIAN PARLIAMENT ADOPTS PRIVATISATION ACT

ZAGREB, March 1 (Hina) - The House of Representatives today enacted the Privatisation Act with 69 ayes, 30 noes and one abstention. At the request of twenty Opposition members, the vote was taken by roll-call. The drafting of the Act took a long time as over 100 amendments were proposed and the Government had rewrite the initial text several times. Under the Act, the Privatisation Fund is bound to sell the shares and stakes it acquired pursuant to the Transformation of Ownership Act. However, the Government may except certain shares from sale at the proposal of the Privatisation Ministry. Under a coupon privatisation clause, free share coupons shall be distributed to war invalids and their families, the families of missing persons and fallen defenders, former prisoners-of-war and political prisoners, as well as displaced persons and returnees. Small shareholders are entitled to buy up to DEM 20,000 worth of shares and pay for them in instalments over a twenty-year period. The House rejected a draft bill on war profiteers, tabled by the Peasants' Party. (hina) as + 011944 MET mar 96