(e) those undertakings which constitute economic units, the aggregate number of whose employees during the period specified in sub-paragraph (a) above was 10 or more.
2. Under the present Decree and in pursuance of its provisions there will be nationalised—with the exception of the undertakings and interests referred to in Clause 15 of the present Decree—all those undertakings which under the provisions of Clause 11 of Act No. 25 of 1948 were exempted from nationalisation, and in addition all the non-State interests (holdings) in the undertakings nationalised under that Act.
3. The State will acquire the right of ownership of the undertakings nationalised under the present Decree on the day on which the present Decree comes into force.
4. The appropriate departmental Minister may, by way of exception, exempt from nationalisation certain specified undertakings if their importance does not warrant their nationalisation.
5. The provisions of the present Decree do not apply to co-operatives functioning on the basis of valid legal statutes, but will extend to those undertakings functioning in a co-operative form in the circumstances envisaged in sub-paragraphs (a) to (d) of paragraph 2 of Clause 1 of Ordinance No. 101,400/K.Sz.M/1947, i.e. when their functioning runs counter to the true co-operative idea.
Clause 2
The appropriate departmental Minister will delegate an official manager (enterprise or depot-manager) to direct the affairs of each undertaking which has been nationalised. As regards the appointment and sphere of authority of an enterprise-manager, the provisions of Decree No. 3500/KORM/1948 and of the Decrees and Ordinances supplementing it must be applied. The sphere of authority of depot managers will be regulated by special legal statute.
Clause 3
1. In the case of any undertaking coming under paragraph 1 of Clause 1 which functions in the form of a joint-stock company, nationalisation will be effected by taking over the ownership of the shares. The shares will pass into the possession of the State on the day on which the present Decree comes into force.
