The representative of the submitters, MP Veroljub Arsic, explained the proposed regulation listing as key innovations the return of the supervisory role to the National Assembly, election of all functionaries of the National Bank of Serbia by the National Assembly, creation of a Directorate for the supervision of financial institutions within the National Bank of Serbia, expansion of the authority of the National Bank Council, limitation of the authority of the Governor and Executive Board, amendment of the mandate of Council members, increased responsibility of the functionaries, limitation of compensation after the termination of function, specification of the ban on state crediting, regulation of internal audit, stipulation of violations and protective measures for the disregard of bans.
In the continuation, the Committee members voiced numerous arguments for and against the proposed amendments and modifications to the Law.
By a majority of votes, the Committee decided to accept the Bill amending and modifying the Law on the National Bank of Serbia, in principle.
The sitting was chaired by the Committee Chairperson, Vesna Kovac.