National Assembly of the Republic of Serbia / Activities / Activity details
Thursday, 15 January 2015
20th Sitting of the Committee on the Economy, Regional Development, Trade, Tourism and Energy
At the sitting held on 15 January, the members of the Committee on the Economy, Regional Development, Trade, Tourism and Energy reviewed the Bill amending and modifying the Company Law and the Bill amending the Law on the Republic of Serbia Development Fund, submitted by the Government.
Minister of Economy Zeljko Sertic provided the rationale for the bills.
Speaking of the Bill amending and modifying the Company Law he said that the amendments related to own shares which, he added, was very important in the case of Telekom. He said that by the amendments and modification to the Company Law, in the case of companies not owned by the state, the total value of acquired own shares that the company can keep after the expiry of the three-year deadline cannot exceed 20% of the capital stock, and in the case of a public company, in the sale of own shares the shareholders are given pre-emptive right.
Following a short discussion, the Committee members adopted, by majority vote, the Bill amending and modifying the Company Law.
Minister Sertic then proceeded to elaborate on the Bill amending the Law on the Republic of Serbia Development Fund. He said that according to the proposed amendments the Development Fund would become its own guarantor i.e. use its own property and capital as guarantee for its obligations, which were previously guaranteed by the Republic of Serbia.
The Committee members adopted the Bill amending the Law on the Republic of Serbia Development Fund, by majority vote.
The sitting was chaired by Committee Chairperson Dr Aleksandra Tomic.
Speaking of the Bill amending and modifying the Company Law he said that the amendments related to own shares which, he added, was very important in the case of Telekom. He said that by the amendments and modification to the Company Law, in the case of companies not owned by the state, the total value of acquired own shares that the company can keep after the expiry of the three-year deadline cannot exceed 20% of the capital stock, and in the case of a public company, in the sale of own shares the shareholders are given pre-emptive right.
Following a short discussion, the Committee members adopted, by majority vote, the Bill amending and modifying the Company Law.
Minister Sertic then proceeded to elaborate on the Bill amending the Law on the Republic of Serbia Development Fund. He said that according to the proposed amendments the Development Fund would become its own guarantor i.e. use its own property and capital as guarantee for its obligations, which were previously guaranteed by the Republic of Serbia.
The Committee members adopted the Bill amending the Law on the Republic of Serbia Development Fund, by majority vote.
The sitting was chaired by Committee Chairperson Dr Aleksandra Tomic.