The adoption of the the State-owned Property Management Rules Act of 2016 and the Act implementing the State-owned Property Management Rules Act eliminated the so-called „privatization” in the form that had been known from the 1990s and replaced it with completely different, more succinct and general, rules applicable to the transfer of shares in companies owned by the state and local government units. The adopted changes, primarily aimed at the companies with the state shareholding, to a large extent affected, by appropriate references, also municipal companies. The author presents and evaluates currently effective legislation on the transfer of shares in municipal companies. He tries to evaluate the appropriateness of the model introduced by the legislator, who made the rules regarding the transfer of shares in state-owned companies applicable accordingly to municipal companies based on a reference in the Act on municipal services. The analyses are framed in a historical context – the rules in force before the effective date of the State Property Management Rules Act of 2016 are a background for the research result.