1. MAIN CHARACTERS OF THE PRIVATIZATION IN HUNGARY
The year of 1992 was a milestone in the course of Hungarian Privatisation. The state-owned companies, as well as cooperatives were given the opportunity by legislation to get transformed into corporations. Now this transformation process have been completed, the state-owned companies have been transformed into mainly joint-stock corporations, but to limited liability companies as well. In 1995, with the coming into force of the Act On the Sale of State- Owned Entrepreneurial Assets, a new phase opened in the privatization. Now it is not transformational, but fully a privatization carried out by the sale of assets, which means that mainly company shares and stakes, but, to a smaller proportion, other assets such as estates, machinery, etc. are sold to market participants. The organization whose prime task is the sale of state-owned assets is the State Privatization and Holding Company Ltd ( APV Rt.), set up by the mentioned Act in
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