MNV Zrt. is a sole company founded by the Hungarian Government, and its shares are not tradable. Approval and amendment of its deed of foundation belong to the powers of the supervising minister. MNV Zrt. may not be converted, split, or merged with another company.

 

 

 

Depending on their purpose, state assets may be treasury or business assets. All assets required for carrying out government tasks, or which are designated by law as assets in exclusive state ownership and therefore not tradable or subject to restrictions on trading, are deemed treasury assets.

 

 

 

MNV Zrt. has a Board of Directors with at most seven members. The Minister appoints and recalls the chairman and members of the Board of Directors. The chairman and members of the Board are appointed for terms of five years and may be recalled at any time. The management of MNV Zrt. is led by the chief executive officer (CEO), subject to the decisions of the minister exercising shareholder’s rights and the decisions of the Board. The official representatives of MNV Zrt. in relation to third parties are the CEO and – to the extent defined in MNV Zrt’s organisation and operation regulations – the General Deputy CEO.

 

 

 

The duties of MNV Zrt. in exercising the rights of ownership and performing asset management firstly involve ensuring that state assets are used as appropriate to their intended purpose. They also include provision of resources required to carry out government tasks, satisfaction of certain needs of society and implementation of government economic policy. Asset management is an independent sector operating on coherent principles, and its purpose is to ensure the efficient, cost-saving, value-maintaining and value-enhancing use of state assets. It can take the form of direct use or indirect use, which may, through sale or expansion, cause a change in the set of assets held, including the addition of further assets.