Privatization Agency hereby notifies the academic community and potential investors that the Law on Privatization has come into force today, which Law was adopted by the National Assembly on August 2nd 2014, thus creating the formal and institutional conditions for continuation and completion of restructuring and privatization process in the Republic o Serbia.
Law on Privatization stipulates implementation of privatization through the following models: sale of capital, sale of assets, transfer of capital free of charge and strategic partnership, the method of public collection of bids with subsequent public bidding and the public bidding procedure. Apart form respective models and methods the law prescribes measures for preparation and disburdening the company in privatization through: conditional debt write-off and a debt-equity swap (conversion). The new law provides more flexible methods and models of privatization, based on real market conditions which will make the entire procedure efficient and transparent.
With a new Law on Privatization entry into force, the former Privatization Law ceased to be valid (“Official Gazette“, No. 38/01, 18/03, 45/05, 123/07, 30/10, 93/12, 119/12, 51/14 and 52/14-Ус9), along with regulations adopted under that law, except for Article 11 of the Decree on the Procedure and Manner of Restructuring the Entities Undergoing Privatization, which shall stay in force until the sale of privatization entities that were in restructuring until the day of the new law becoming effective.
Law on Amendments to the Law on Bankruptcy has become effective as of today, except for the provision of Article 10 of the law, which shall become applicable from October 1st 2014 and the provision of Article 1, paragraph 2 which shall become applicable from January 1st 2015.