In final days of 2007, the General Assembly of the Republic of Serbia enacted the Amendments to the Privatization Law („Amendments“). The Amendments remove many interpretation dilemmas that were caused by loopholes in the earlier version of the Privatization Law (“PL”). In particular, the Amendments supplement the provisions on restructuring, mandatory debt relief and termination […]
Amendments to Operating Rules of the Central Securities Register Depositary and Clearing House (Official Gazette of the Republic of Serbia No.70/2008) The amended Operating Rules of the Central Securities Register, Depositary and Clearing House (“Amended CSR Rules”) came into force on 30 July 2008. The amendments fill in some gaps in the former version of […]
Amendments to the Auction Decree (Official Gazette of the Republic of Serbia No.91/07) On 8 October 2007, the Government of the Republic of Serbia enacted the Amendments to the Decree on Sale of Capital and Property by Public Auction („Amendments“). The principal novelty is the prohibition for an individual or legal entity controlled by an […]
On 24 May 2007, the Serbian Chamber of Commerce adopted the new Rules of the Foreign Trade Court of Arbitration attached to the Serbian Chamber of Commerce (hereinafter referred to as the “FTCA Rules”). Together with the recently adopted Arbitration Act (Zakon o arbitraži, Official Gazette of the Republic of Serbia No. 46/06), the FTCA […]
PRIVATIZATION Amendments to the Auction Decree On 8 October 2007, the Government of the Republic of Serbia enacted the Amendments to the Decree on Sale of Capital and Property by Public Auction („Amendments“). The principal novelty is the prohibition for an individual or legal entity controlled by an individual convicted or formally indicted for certain […]
Following its confirmation by national referendum, the new Constitution of the Republic of Serbia was proclaimed by the National Assembly on November 8th, 2006 (“New Constitution”). The aim of this Newsletter is to present the most important provisions of the New Constitution relative to the economic area. Abolishment of social ownership The New Constitution abolishes […]
On 25 May 2006, the Serbian Parliament adopted the Law on Takeover of Joint-Stock Companies (hereinafter referred to as the “Law”). Together with the newly adopted Law on the Market of Securities and Other Financial Instruments (Zakon o tržištu hartija od vrednosti i drugih finansijskih instrumenata, Official Gazette of the Republic of Serbia No.46/06), the […]
On 25 May 2006, the Serbian Parliament adopted the Law on Investment Funds (hereinafter referred to as the “Law”). The Law represents a breakthrough, being the first enactment in Serbia that regulates establishment and operation of investment funds and fund management companies. The Law shall become applicable on 10 December 2006. Fund management company A […]
The new Serbian Securities Act (hereinafter referred to as the“Act”) came into force on 10 June 2006, and will become applicable on 10 December 2006. The reason for adoption of the new securities legislation was in the necessity of adapting legal framework to new circumstances and developments on the Serbian securities markets, such as advanced […]
The new Law on Voluntary Pension Funds and Pension Plans (“Law”) came into force in October 2005. Its application is, however, postponed until April 1st 2006. After the decades of the monopoly of compulsory state-managed pension funds, the Law represents the first comprehensive regulatory attempt to promote the idea of voluntary pension insurance in Serbia. […]
