State-owned enterprises and organization as owner
The State of Chile organizes its functions as a company owner by separating them from its role as a regulator through two mechanisms: on the one hand, with a technical body, the Comité Sistema de Empresas - SEP, regarding 20 state companies; and on the other, through autonomous and responsible corporate governments for their performance. In terms of the financial aspects of the companies, the State controls them through the Ministry of Finance. Likewise, some companies receive guidelines linked to their mandates from sectoral ministries.
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A law authorizes the State to participate in a certain business activity and creates the company, establishing its statutes in it. These companies are part of the State Administration bodies.
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Article 1, paragraph 2 of the Law N° 18,575, Constitutional Organic Law of General Bases of State Administration.
The law authorizes the State to develop a specific business activity and entrusts certain administrative bodies to participate in the creation of a company, under the form of a corporation regulated by common law. These entities have a legal nature governed by private law.