Act on Amendments and Supplements to the Companies Act

Usage of seal in dealing of the business entities

By the provisions of the Act on Amendments and Supplements to the Companies Act (’’Official Herald of RS ‘’, No. 44/2018) were realized the improvement of individual solutions from the valid Companies Act (’’Official Herald of RS ‘’, Nos. 36/2011, 99/2011, 83/2014 – other law and 5/2015) and further harmonization with the EU regulations.

The Act on Amendments and Supplements to the Companies Act (’’Official Herald of RS ‘’, No. 44/2018) entered into force on 09 June 2018, but its implementation began on 01 October 2018, except for the provisions on cross-border mergers and acquisitions of companies, on Societas Europaea and the European economic interest grouping, which will be applicable from 01 January 2022.

Usage of Seal

The obligation to use seal have been abolished to companies for a long time. However, in accordance with certain regulations, the usage of seal still existed as for it was prescribed, so by the amendments and supplements to the Companies Act has been stipulated that an obligation to use the seal in business letters and other documents of the company can not be established to company by specific regulation.

By the aforementioned amendments and supplements to the Companies Act, was prescribed and termination of certain provisions of the regulations relating to the mandatory usage of seals in the dealing of business entities.

In this way, by one law will be implemented and the Action Plan relating to the abolition of the mandatory application of seals in business companies and entrepreneurs which was adopted on 29 March 2018. by the Serbian government with a Conclusion on the abolition of the mandatory usage of seals in the dealing of entrepreneurs, companies and other legal entities of private law (’’Official Herald of RS ‘’, No. 28/2018).

By the Action Plan have been stipulated:

  • all regulations must be modified (according to the provisions / prescribed forms provided for the abolition of use of the seal)
  • the competent authorities for amend of regulations and partner institutions in certain regulations, and
  • the deadlines within which the mentioned changes must be made.

In accordance with the planned schedule of changes to regulations under the Action Plan until the end of 2019, the usage of seals as a obligation will no longer be stipulated by any applicable regulation from the jurisdiction of the state administration organs.

After the beginning of implementation of the amendments and supplements to the Companies Act the usage of seals is an obligation only to public authorities and legal entities which exercising public authority, in accordance with the provisions of the Law on the Seal of the State and other organs (’’Official Herald of RS ‘’, no. 101/2007).

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