Amendments to the Company law
The National Assembly of the Republic of Serbia adopted the Law on Amendments to the Company Law on December 12, 2019, which was published in the Official Gazette of RS No. 91/2019. The provisions of the amended law will be applied as of January 1, 2020, except for the provisions whose application has been postponed to April 1, 2020. The amendments introduce another exception when it is not necessary to obtain approval for the conclusion of transactions in which there is a personal interest. Namely, the formation of reserved own shares by the company. Also, a new financial instrument-right to acquire shares is introduced. The goal is to enable limited liability companies to stimulate their employees, investors, consultants, etc. by issuing a financial instrument - the right to acquire shares, which gives the holders of this financial instrument the right to acquire shares in the company on a certain day (maturity date) at a discounted price, as well as employees in a limited liability company and joint stock company to participate in profit distribution. An additional goal achieved by passing this law is to stimulate economic growth, and especially further growth of the information technology industry and enable companies in this field to operate in accordance with generally accepted standards, which allows limited liability companies operating in the Republic of Serbia to apply generally accepted instruments to reward employees, investors, consultants etc.
Subotić-Homen & Partners
© 2015 Subotić-Homen & Partners8 Vuka Karadžića St.
11000 Belgrade, Serbia
office@shp.rs