A.All policy making mandates and government sovereignty functions must be detached from the government companies and transferred to the relevant specialized ministries and government agencies.
B.Government corporations are organized merely within the framework of specialized holding and affiliated companies (second generation) and are managed under auspices of their general assemblies and within the framework of their articles of incorporation. As for their policies and sector programs, this group of companies is specified in the criteria and regulations of the specialized ministries.
Note 1; Formation of (new) public corporation is permissible, specified in the approval of the Islamic Consultative Assembly. Converting companies in which the government share is below fifty percent (50%) to government corporation is prohibited.
Note 2: Partnership and investment by government corporations, except banks, credit institutions, and insurance companies, with other corporations subject of this article will require authorization of the Council of Ministers.