Personal data protection in Serbia – the legal framework

Personal data protection in Serbia was regulated by the provisions of the Law on Personal Data Protection and in some cases by the provisions of the General Data Protection Regulation.

The General Data Protection Regulation (hereinafter: GDPR) started with implementation within European Union on May 25, 2018. The Law on Personal Data Protection which entered into force on November 21, 22018 and started with implementation on August 21, 2019, adopt the majority of principles and standards of GDPR’s. Continue reading Personal data protection in Serbia – the legal framework

Additional payments of the company member

Additional payments, as well as the loan to the company is one of the several possible ways of financing the company by a member of the company.

The provisions of Articles from 178 to 180 of the Companies Act regulates the following issues related to additional payments: manner of establishing the additional payment obligation, consequences of failure to make additional payment and return of additional payments.

Manner of Establishing the Additional Payment Obligation

The memorandum of association or the resolution of the company’s general meeting may prescribe an obligation on the part of company members, in addition to paying up the subscribed share capital, to make additional payments to the company in proportion to the value of their share in the company. Continue reading Additional payments of the company member