The list of national unitary enterprises subject to privatisation through their conversion into open joint stock companies is being prepared and will be forwarded to the government by May 28, 2008. The list will be effective for three years, Chairman of the State Property Committee of Belarus Georgy Kuznetsov told the House of Representatives of the National Assembly on May 21. He added, a list of joint-stock companies, which shares are owned by the Republic of Belarus and are subject to selling, is being prepared as well. The list is supposed to be submitted to the government by May 28, 2008. On May 21 Georgy Kuznetsov also presented decree No 7 of April 14, 2008, which envisages amending decree No 3 of March 20, 1998 “Denationalization and privatisation of state property of the Republic of Belarus”. According to decree No 7 state-owned objects will be privatised in accordance with three- year plans the government and local councils of deputies have to adopt. Shares of open joint-stock companies, which were established through denationalization, will be sold at tenders and auctions, said Georgy Kuznetsov. The state also forfeits the privileged right to buy out shares in authorised funds of commercial entities, which are established through privatisation. Restrictions on the circulation of shares of open joint-stock companies, which are established through denationalization, will be gradually lifted. Up till now the alienation of these shares had been forbidden. The restrictions will be lifted in three phases depending on the size of the state-owned share in the authorised capital of joint-stock companies. All the restrictions will be lifted in the third phase (starting January 1, 2011). According to Georgy Kuznetsov, the decree is designed to promote investments in the country’s economy, including foreign investments, and to further development the securities market. The House of Representatives took note of the document.