This is the first overhaul of the Serbian Company Law since it was enacted back in However, a lot of the changes have been made in an attempt to resolve the issues which occurred in the practical implementation of the previous Law. The amended Law introduces a deadline for the payment of dividends after being declared. The deadline is 6 months following the decision on declaring dividends.

The amendments to the Law attempt to introduce some clarifications to the provisions concerning the disposal of assets of significant value i. This concept has been the source of tensions between the management and the minority shareholders ever since it was introduced into the Serbian legal system back in While the attempt to bring clarification to this complicated and burdensome concept is certainly welcome, it still remains to be seen whether Ckmpany will bring any significant benefit in practice.

The amendments introduce changes to the internal approval procedure for transactions involving the Serbiaa interest of the shareholders or directors:.

Serbian companies that have non-registered branches in Serbia will have a one-year period to register them. The amendments to the Law have only formalised the existing practice of the authorities, which prohibited this type of share capital decrease even before these amendments.

The expectations of the business community, that such an Company Law Serbia conservative and ungrounded practice will be terminated by these amendments, did not materialise; to the contrary, we now have a strict legal prohibition against the decrease of share capital in the case of Gas Company In Kansas City Missouri overcapitalisation of a Serbian limited liability company.

The conditions for determining the market value of shares in a joint stock company have been changed. The Yes Tube Company Law now prescribes that the market value of shares is the average weighted price of shares on the regulated market in the period of 6 months prior to the issuance of the decision on determining the market value, provided that:.

If the above conditions are met, when determining the value of the shares for the purposes of a buy-out of shares held by dissenting minority shareholders, only the market value should be taken into consideration, and there is no requirement to Comlany the book or the evaluated value of the shares. If there is no market value for the specific shares, the higher amount between the book value and the value evaluated by authorised evaluators is to be paid as the price to the dissenting minority shareholders.

These amendments apply immediately after the publication of the amendments, i. There are some amendments, in relation to EU integrations, which will enter into force on 1 January The amended Law:. The information in this document does not constitute legal advice on any particular matter and La provided for general informational purposes only. You can unsubscribe at any time by clicking the link in the footer of our emails. For Company Law Serbia about our privacy practices, please visit our website.

Distribution of dividends The amended Law introduces a deadline for the payment of dividends after being declared.

Assets of significant La The amendments to the Law attempt to introduce some clarifications to the provisions concerning the disposal of assets of significant value i. The amendments clarify the existing provision enabling voting rights not to be pro-rata to the respective shareholding interests — the amendments confirm that voting rights do not have to be pro-rata to the shareholding interest, but no share can have zero voting rights.

Valuation of shares in joint stock companies The conditions for determining the market value of Lzw in a joint stock company have been changed. Harmonisation with EU regulations There are some amendments, in relation to EU integrations, which will enter into force on 1 January The amended Law: introduces new company forms: Societas Europea, the European joint stock company, and the European economic interest grouping; and, enables cross-border mergers of Serbian and EU companies.

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Companies Act (Company Law Serbia, Corporate Law Serbia)

Company's legal (statutory) representatives, in terms of this Act, are persons who have been designated as such by this Act for each individual company form. A company's legal representative may be a natural person or a company registered in the Republic of Serbia . A company shall have at least one legal representative who is a natural person.…

SERBIA: THE COMPANY LAW HAS BEEN AMENDED JPM - The ...

SERBIA: THE COMPANY LAW HAS BEEN AMENDED. The National Assembly of the Republic of Serbia adopted the Law on Amendments and Supplements to the Serbian Company Law, which came into force on June 9. The National Assembly of the Republic of Serbia adopted the Law on Amendments and Supplements to the Serbian Company Law,...…

New Companies Law in Serbia BDK Advokati

Jan 16, 2011 · New Companies Law in Serbia The new Companies Law (the  Law), which came into force on 4 June 2011, will become applicable on 1 February 2012. Serbian companies are obliged to harmonize their organizations and corporate enactments with the new requirements of the Law by that date or they will risk involuntary liquidation.…

4.0 - Master Eng Transl Company Law - 2-18-05

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