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The end of 2021 has marked adoption of the new Law on Capital Market (the “Law”) in Serbia, which was published on 28 December 2021. The Law was adopted in line with the recently enacted Strategy for Development of the Capital Market for the period 2021-2026 and within a wider process of accession of Serbia to the EU.

On 19 November 2021 the Parliament of the Republic of Serbia enacted yet another amendment to the Company Law. This is the seventh change of this piece of legislation in its 10 year long legal life. We focus here on the two which may have far-reaching consequences to the landscape of limited liability companies (LLC) in Serbia.

While trying to bounce back from the COVID-19 pandemic, the world is running headlong into an energy crisis, and North Macedonia will meet the same fate. The country is facing serious electricity shortages due to the rising growth of prices on the energy exchanges in Europe. This, in turn, disables the companies that trade in electricity to comply with the agreements signed with companies and institutions to whom they supply electricity on the free market. The disbalance in the demand and supply is then covered from the reserves of the transmission system operator (“TSO”) MEPSO, who is drawing electricity from the European network, thus accruing massive debt. Meanwhile, North Macedonia is trying to increase the domestic production of electricity, by activating the third block of REK Bitola, the country’s biggest producer of electricity and coal.

Up until fairly recently, the lease of business buildings and business premises (offices, warehouses, pertaining parking spaces, etc.) in Slovenia was governed by the Business Buildings and Business Premises Act (“Act”). Since the Act was adopted back in 1974, it was not shaped for the modern business environment in which it is both in the interest of the lessee and the lessor to be able to act quickly and have at least a certain degree of flexibility when it comes to adopting business decisions. The obligatory 12-month notice period for termination of lease agreements, concluded for an indefinite period, and the obligation to terminate the lease agreement through court proceedings, for example, all but served those interests.

Based on changes of the Decree on bodies within ministries, the competence to perform administrative tasks in the field of environmental protection and professional and administrative tasks in the field of nature conservation, except for administrative and professional tasks related to responsibility for prevention or remediation of environmental damage, have been transferred from the Environmental Agency of the Republic of Slovenia to the Ministry of the Environment and Spatial Planning.

Karanovic & Partners at a Glance

Who we are

Karanovic & Partners is a regional legal practice in Southeast Europe with tradition spanning two decades and cooperating offices in Serbia, Croatia, Slovenia, Montenegro, Macedonia and Bosnia & Herzegovina. With more than 100 attorneys at law cooperating across the region, we take pride in our work, dedication and understanding of our clients' industries and needs.

What we do

We work with some of the most respected and reputable businesses in the world, banks, as well as governments, state-owned entities, startups and NGOs. We see our clients as long-term partners.

We focus on straightforward solutions and tailor-made advice. Lawyers cooperating with us are fully immersed in our clients’ culture and industry to ensure that the work is delivered intelligently and reliably.

What sets us apart?

In our company culture, excellence is a must. We are reliable, adaptive and fast.

Karanovic & Partners operates under the “one team” principle, combining our regional reach and local know-how to deliver coordinated legal advice necessary for achieving our clients’ goals.​

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