The Government of the Republic of Serbia, at its session held on 4 May 2023, adopted the Draft Amendments to the Planning and Construction Act, so that, in due course, the adoption of the Draft and the adoption of the amendments to the Planning and Construction Act can be expected.
Blueprint for an AI Bill of Rights
In this second installment of our series focusing on the risks posed by artificial intelligence (AI) and the legislative initiatives in the US to address them, we will be examining the proposed AI Bill of Rights.
AP Legal Advises Serbia's AOFI on Sale of NPL Portfolio to EOS Matrix
AP Legal has advised the Serbian Export Credit and Insurance Agency on the sale of an NPL portfolio to EOS Matrix.
AP Legal Advises UniCredit Bank Srbija on MPP Palata Beograd Refinancing
AP Legal has advised UniCredit Bank Srbija on its loan to Marera Properties member MPP Palata Beograd. Isailovic & Partners reportedly advised Marera Properties.
Serbia: New Law on Safety and Health at Work
The new Law on Safety and Health at Work was published on April 29, 2023, in the Official Gazette of RS no. 35/23 and went into force on May 7, 2023. With the entry into force of the new law, it completely ceases to be valid the previous Law on Safety and Health at Work (“Official Gazette of RS”, nos. 101/2005, 91/2015 and 113/2017).
Lights, Camera, Cannabis: Jim Belushi’s Documentary Explores Cannabis Legalization in Albania
American actor Jim Belushi met with the Albanian Prime Minister Edi Rama to discuss the Albanian government’s initiative to legalize cannabis and the possibilities of exporting this product for medical purposes.
Below-Threshold Transactions under Scrutiny in the European Union, any Lessons for the Region?
On 16 March 2023, the Court of Justice of the European Union (“ECJ”) published its judgment on Towercast’s appeal against the French Competition Authority’s decision in Towercast’s case (Case No. C-449/21), confirming that abuse of dominance rules may equally apply ex post to transactions in which national and EU merger control thresholds were not met.
AP Legal Advises Raiffeisen Banka Beograd on Banking and Insurance Operations Mergers
AP Legal has advised Raiffeisen Banka Beograd on its merger with RBA Banka Novi Sad and on the merger of CA Leasing Srbija into Raiffeisen Leasing.
Serbian Government Seeks Strategic Partner for Ambitious Solar Energy Project
The Serbian government announced that it is looking for a strategic partner to develop a minimum of five self-balancing solar power plants with a total installed capacity of 1,000 MWac (or 1,200 MWdc) and a battery storage system with a minimum total installed capacity of 200 MW and the ability to accumulate at least 400 MWh of electric energy.
Serbia: The New Law on Electronic Communications Has Entered into Force
The new Law on Electronic Communications, published on April 29, 2023, in the Official Gazette of the Republic of Serbia no. 35/23, went into force on May 7, 2023. With the entry into force of the new law, the previous Law on Electronic Communications ceases to be valid (“Official Gazette of the Republic of Serbia”, nos. 44/2010, 60/2013, 62/2014 and 95/2018) except for certain provisions related to the secrecy of electronic communications, legal interception, and retention of data, as well as other specific provisions that will be valid until the adoption of by-laws prescribed by the new Law on Electronic Communications.
2023 Amendments to the Company Law in Republika Srpska
The Parliament of Republika Srpska adopted the amendments of the Company Law of Republika Srpska which entered into force on 2 March 2023. This is the sixth time that the Company Law has undergone changes since it was enacted, whereas the recent amendments brought significant novelties, rather than cosmetic ones.
The Last Day for Registration to E-government Portal Approaching
We would like to remind you that tomorrow is the final day for legal entities in Serbia to register as users of the e-government portal.
Cytowski & Partners Advises HireApp and South Central Ventures on USD 1.5 Million Financing Deal
Cytowski & Partners has advised both South Central Ventures and Serbia's HireApp on their USD 1.5 million seed financing agreement.
A New Hope for the Commercial Prosumers
In January 2023, the Serbian Ministry of Mining and Energy initiated the procedure for the amendments to the Law on the Use of the Renewable Energy Sources (“Amendments”) whose purpose was, among others, to limit the installed power of the prosumers.
Hristov & Partners, BDK Advokati, Legal Advisory Group, and Boyanov & Co Advise on Sale of Aiopsgroup to Valantic
Hristov & Partners and the Legal Advisory Group, working with Hogan Lovells, have advised Aiopsgroup on its sale to Valantic. BDK Advokati and Boyanov & Co, working with Heuking Kuhn Luer Wojtek and Spectrum Legal India, advised Valantic.
Closing: Yokohama Acquisition of Trelleborg Wheel Systems Now Closed
On May 24, 2023, PRK Partners announced that Yokohama Rubber’s acquisition of Trelleborg Wheel Systems (reported by CEE Legal Matters on April 13, 2022) had closed.
Serbian Competition Authority Initiates New Antitrust Investigation – Potential Bid Rigging
The Commission for Protection of Competition of Serbia (the “Commission”) announced on 3 May 2023 that it initiated an antitrust investigation against the companies KTG Solucije d.o.o. Subotica and Eco Sense d.o.o. Subotica due to alleged restrictive agreement – colluding in public procurement procedures (bid rigging).
Capital Markets in Serbia
Contributed by Karanovic & Partners.