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The Privatization of the GDR Economy (June 17, 1990)

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Article 8: Responsibilities of the Trusteeship Stock Corporation

(1) The Trusteeship Stock Corporation, in collaboration with business consultants, sales corporations, banks, and other enterprises, will guarantee that the following tasks are carried out, entrepreneurially and as decentrally as possible, in its area of operations:
– privatization through sale of shares in business or property,
– ensuring the efficiency and competitiveness of enterprises,
– closure and utilization of the property of businesses or parts of businesses no longer amenable to reorganization.

(2) The Trusteeship Stock Corporation is to inform the Trusteeship Agency about the progress of privatization.

[ . . . ]

Article 24: Transitional and Final Provisions

(1) The provisions of this law do not affect possible claims to restitution or compensation on account of unlawful expropriation or expropriation-like interventions.

(2) The law takes effect on July 1, 1990.

(3) At the same time, the following cease to be in effect:
– The resolution of March 1, 1990, on the founding of the Agency for the Fiduciary Administration of State Property (Trusteeship Agency) (GBl. I No. 14, p. 107).
– The resolution of the Council of Ministers of March 15, 1990. The Statute on the Agency for the Fiduciary Administration of State Property (Trusteeship Agency) (GBl. I No. 18, p. 167).

(4) The Council of Ministers will issue executive orders for this law.

Source of English translation: “The Charter of the Trusteeship Agency for GDR State Property, June 17, 1990,” in Konrad Jarausch and Volker Gransow, eds., Uniting Germany: Documents and Debates, 1944-1993. Translated by Allison Brown and Belinda Cooper. Berghahn Books: Providence & Oxford, 1994, pp. 164-67. © Berghahn Books. (Article 24 translated by GHI staff.)

Source of German original: “Treuhandgesetz” [“Trusteeship Law”], Neues Deutschland, June 29, 1990.

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