Acting Assistant Minister of Economy Dusan Vuckovic presented the Bill amending and modifying the Company Law saying that its drafting was preceded by an analysis of the existing Law in practice and the comments and suggestions of domestic and foreign companies. As regards EU Negotiation Chapter 9, Vuckovic said that the Bill is harmonized with the EU acquis pertaining to corporate law. The most important changes concern limited liability companies viz. members in possession or representing 10% of the base capital, instead of 20% as was so far the case, can call a meeting and one or more members in possession or representing no less than 5%, instead of 10%, of base capital can submit an amendment to the agenda of a meeting in writing.

Vuckovic said that the Bill amends the provisions ascertaining the stockholders’ right to dividends viz. the payment period cannot be longer than six months from the day the decision on the dividend payment is made. The share liquidity criteria have been made more severe, and when registering a company electronically, the needed certified signature is replaced by a qualified electronic signature, thus eliminating the cost of signature verification.

Acting Assistant Minister of Economy Dragan Ugrcic presented the Bill amending and modifying the Bankruptcy Law saying that the biggest changes concern a more efficient and secure payment of creditors under financial collateral arrangements and other contracts regulated by the Law on Financial Collateral and provides harmonization of the national legislation with the EU acquis viz. the Financial Collateral Directive.

The sitting was chaired by Committee Chairperson Snezana B. Petrovic and attended by the following Committee members and deputy members: Dr Aleksandra Tomic, Studenka Kovacevic, Natasa St. Jovanovic, Jelena Mijatovic, Branislav Mihajlovic, Ivan Manojlovic, Zoran Bojanic, Dragomir Karic and Prof. Dr Vladimir Marinkovic.