Attorney Dragana Djordjevic » Blog » Commercial law (17)

Reserved own share and financial instrument

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Since April 1, 2020, began implementation of the Law on Amendments to the Companies Act (“Off. Herald of RS”, Nos. 91/2019) by which two new legal institutes for limited liability companies were introduced:

  • reserved own share and
  • financial instrument – right to acquire a share.

Reserved Own Share

A reserved own share of a company within the meaning of the Companies Act shall be considered a share that the company acquires from a member of the company without consideration, for the purpose of granting a financial instrument – right to acquire a share.

A reserved own share cannot be pledged, nor can a reserved own share be disposed of, except in the manner prescribed by law. Continue reading Reserved own share and financial instrument →

Conditions for performing the activity of limo service

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Limo service means a public transport that is performed by a vehicle which is rented with the driver’s assistance. Conditions for performing the activity of limo service in Serbia are determined by the provisions of the Law on Transportation of Passengers in Road Traffic (“Official Herald of RS”, No 68/2015, 41/2018, 44/2018 – other law, 83/2018, 31/2019 i 9/2020).

A company or entrepreneur can perform a limo service if it has a decision of the municipal or city administration, i.e., the management in charge of traffic affairs, which determine that the company or the entrepreneur meets the requirements:

  • in respect of seat

The company fulfills the requirement for a seat if it has a seat on the territory of the local self-government, which issues the approval. The seat must include business premises where the primary business documents are stored, especially accounting documents, human resource documents, and other documents relevant to performing the activities of taxi transportation. Continue reading Conditions for performing the activity of limo service →

Concessions

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The Law on public-private partnership and concessions (“Off. Herald of RS”, Nos. 88/2011, 15/2016 and 104/2016) governs:

    • conditions and method of preparing, proposing and approving of public-private partnership projects
    • specifies the entities competent, i.e., authorized to propose and realize the public-private partnership projects
    • rights and obligations of public and private partners
    • form and content of the contract on public-private partnership with or without elements of concession (hereinafter: the public contract) and legal protection in procedures of awarding public contract
    • conditions and manner of concession awarding, subject matter of concession, entities competent, i.e., authorized to conduct concession award procedure, termination of concession
    • protection of rights of the participants in the procedures of awarding public contracts
    • establishing, status and competence of the Commission for Public-Private Partnership, as well as other issues of significance for a public-private partnership, with or without elements of a concession, i.e. for a concession.

Continue reading Concessions →