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Estonia · Law · SE

772

State Property Act Amendment Act

avaldatud riigiteatajasEstonia· Riigikogu· ET

Introduced

8 December 2025

Last action

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Status

AVALDATUD_RIIGITEATAJAS

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Subjects

Discovery layer

Source updated

13 May 2026

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Summary

The law is being amended in order to improve the governance of state participation and to make the regulation of councils and internal audit more flexible and clear. The Ministry, as the manager of the holding, can choose and recall its own representative in the council of the state company in the future without the nomination committee's proposal. This reduces the workload of the nominating committee and gives greater flexibility to the shareholder. The number of foundations where one council member must be appointed is decreasing at the proposal of the Minister of Finance from 59 to 20. This obligation remains only for larger foundations. The thresholds for the application of the internal audit obligation will be raised significantly. A new obligation arises if the balance sheet volume exceeds 15 million euros or revenues exceed 10 million euros. The internal auditor can be waived only if there is no obligation of the audit committee and the internal audit unit of the manager of the state shareholding or the exerciser of founding rights is used. Number of companies with an internal audit obligation increases from 18 to 19, the number of foundations decreases from 47 to 20. The shareholder's manager is given the explicit right to consult the council's work and internal audit documents, such as protocols and audit results. This will improve the transparency and monitoring capabilities of the management of state-owned enterprises. The explanatory letter states that as of July 31, 2025, the state had a stake in 27 companies, including 3 inactive ones; 65 in foundations and 15 in NGOs.

Machine translation from Estonian. The official text remains authoritative.

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20 official files

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