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Articles contributed by Karanovic & Nikolic
Recently in Serbia, a set of laws governing the business operations of companies has been adopted. Among them the most important is the new Company Law, which came into force on 1 February 2012.
Dr Slobodan Doklestic Partner, Karanovic & Nikolic
The Serbian Labor Law was adopted in 2005 and thereafter has been amended twice – in 2005 and 2009. Although this law is in many aspects commendable, it seems that some of its solutions call for prompt modernization.
I. Legislative reform in the field of public-private
partnership ............................................(Pg. 2)
II. Previous experience with PPP projects in
Serbia ...................................................(Pg. 2)
III. New regulatory framework ..................(Pg. 3)
IV. Challenges in the implementation of the new
PPP framework .......................................(Pg. 6)
Energy News: October 2010
On 5th May, 2010 the Serbian Parliment enacted the new Law on Waters. The purpose behind legislative changes in this area was to harmonize the Serbian system of management of waters with the EU standards as well as with the national environmental legislation, to introduce a system of integral water management, and to generally adapt the existing regulations with the technical and other changes which occured in this area since the adoption of the old Law on Waters in 1991. In the energy sector, the new Law on Waters concerns energy producers which utilize public waters, such as primarily hydro-power plants and thermo-power plants. While the new Law on Waters retains the general licensing system for the use of public waters established under the old law, it introduces a certain level of liberalization and regulates the procedure for the issuance of these licenses in more detail.
After a few months of public debate, the new Insolvency Law1 has finally seen daylight in Serbis. The law was adopted in December 2009, and is effective since the end of January 2010. This has been such a major leap forward in protecting creditors and "cleaning" the business space in Serbia from heavily indebted companies. The law is generally based on the UNITRAL rules pertaining to insolvency, which have also been introduced by many countries in the region.
Five years after enacting EU-like Competition Law, the Serbian Goverment has enacted block exemption regulations for vertical and horizontal agreements. The regulations became effective on 13 March 2010 and companies have been given theree months to comply.
Serbian Parliament passed the new Competition Law earlier this month but voted to put it into effect as of 1 November. Most notably, for procedures commencingas of November, the Commission will impose fines and other sanctions directly, up to 10% of the parties’ revenues. The new law completely remodels all procedures before the Commission. The revision did little to change the substantive approach to competition rules thus keeping the law essentially compliant with EU rules.
Registration of the extended European patent in the Register of Patents at the Intellectual Property Office of the Republic of Serbia.
The new draft Competition Law has recently been published by the Ministry of Trade. It features a number of novelties, the most significant one being the Competition Commission's ability to impose sanctions directly (up to 10% of annual turnover).