Law on deadlines for settlement of financial liabilities in commercial transactions — solvency crisis an ongoing issue
Avoiding a lengthy public debate and strenuous draft harmonisation, the law on deadlines for settlement of financial liabilities in commercial transactions entered into force in December 2012 and became a current regulation on 31 March 2013, when its implementation began. Before its enactment in Serbia, the same or similar act had already been adopted by 45 of the 48 European countries. The average payment period in Serbian commerce at the time was almost five months…
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The new Law on Consumer Protection will be applied as of 22 September 2014. Most of the provisions have remained unchanged, but there are certain novelties.
The new law came into force on 13 August 2014, and the deadline for privatisation of socially owned capital to be completed is 31 December 2015.