Reduction of share capital of the limited liability company

A limited liability company’s share capital may be reduced by the resolution of the company’s general meeting, but not below the minimum share capital, which amounts to at least RSD 100, unless a special law provides a higher amount of the share capital for companies dealing in certain business activities.

Decision to reduce the share capital of a limited liability company below the minimum share capital may be passed only under a condition that an increase in share capital is simultaneously carried out, so that, as a result of such reduction and increase the company’s share capital becomes at least equal to the minimum amount of share capital, which amounts to at least RSD 100, unless a special law provides a higher amount of the share capital for companies dealing in certain business activities.

If the limited liability company fails to simultaneously pass a decision on increase of share capital and fails to carry out such increase, the decision on reduction of share capital is null and void. Continue reading Reduction of share capital of the limited liability company

Reporting obligation to NBS in respecct of foreign operations

Reporting obligation to NBS (National Bank of Serbia) in respect of foreign operations governing the following two regulations:

  • Decision on Reporting Requirements in Respect of Foreign Operations (RS Official Gazette, Nos 87/2009 and 40/2015) and
  • Guidelines for Implementing the Decision on Reporting Requirements in Respect of Foreign Operations (RS Official Gazette, No 87/2009 and 40/2015).

Reporting entities and reporting titles to NBS in respect of foreign operations

Decision on Reporting Requirements in Respect of Foreign Operations (RS Official Gazette, Nos 87/2009 and 40/2015) by its provisions regulate the reporting entities and the titles of reporting to NBS in respect of foreign operations Continue reading Reporting obligation to NBS in respecct of foreign operations

Enforcement of claims from client’s accounts

Enforcement of claims from client’s accounts (Enforced collection) shall be realized in accordance with the provisions of articles 47. to 49. of Law on Payment Transactions (FRY Official Gazette, Nos 3/2002 and 5/2003, RS Official Gazette, Nos 43/2004, 62/2006, 111/2009, 31/2011 and 139/2014). The execution titles, the order of fulfilment of the execution titles and the procedure of realization of the enforced collection are regulated by those legal provisions.

Enforced collection – titles and the order of fulfilment of titles

Enforcement of claims from client’s accounts shall be made against all of the client’s accounts with banks in which the client holds funds, and shall be made on the basis of:

  • enforceable decisions issued by tax, customs and other competent bodies – according to the time of receipt
  • enforceable court decisions, other execution titles, legal authorisations – according to the time of receipt
  • creditors’ orders in respect of matured securities, bills of exchange or mandates given by the debtor to its bank and its creditor – according to the time of receipt Continue reading Enforcement of claims from client’s accounts