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Police and fire service members not allowed to have shares in private companies -draft bill

Police and fire service members will be able to acquire shares in private companies only by receiving permission from the Justice Minister, according to a draft bill discussed yesterday by the House Legal Committee.

The relevant draft bill aims to regulate the possession by members of the police or the fire service of shares and their participation in the administrative councils of private companies.

The bill suggests that policemen and firemen be exempt from participating in the administration or have shares of any non-pubic company or other company of private nature.

However, at the permission of the Justice Minister, which can be granted at the recommendation of the Chief of Police (provided this is not incompatible with their duties as members of the Police and the Fire Service) they can participate if this serves the public interest or if the interest of the member was hereditary and does not prevent the member from carrying out his duties.

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