At the sitting held on 14 October, the Culture and Information Committee considered the Bill on Legacies and Foundations in principle.

A Ministry of Culture representative pointed out that the new law creates the legal framework to stimulate and develop legacies and the operation of foundations.

The Committee members stated that this was one of the most important laws in the sphere of culture. They pointed out that it systematically regulates the field of legacies and foundations, ensures the appropriate use of the existing ones and stimulates new legacies and the creation of foundations. Serbia was said to have numerous legacies and funds disposing of considerable capital, but whose business dealings have not been fully regulated which makes inappropriate expenditure, as well as abuse, possible. The new law envisages the transparent management of legacies and foundations, as well as making their dealings public which would order the sphere, the Committee members believe.

The Committee members endorsed the Bill on Legacies and Foundations, by a majority of votes.

The sitting was chaired by Vesna Marjanovic, Committee Chairperson.