Abstract

The article contends that the "principle of specialty of state-owned enterprises" (an equivalent of the ultra vires doctrine in corporate law), as advocated by the Chilean Public Law doctrine, is a faulty argument that, on the one hand, deforms the French dogmatic construction on which it is based, and, on the other hand, it cannot be justified on the constitutional principle of subsidiarity. The article also proposes that the only way to restrict the scope of action of the state-owned enterprises is through a qualified majority Act.