As of 1 January 2019, the National Bank of Serbia (“NBS”) took over the competencies of the Ministry of Finance and its department Tax Administration for issuance and revocation of licences to perform exchange operations. The NBS also took over the supervision of foreign exchange operations of Serbian residents and non-residents, being natural persons, entrepreneurs and general legal entities. The NBS adopted several decisions in order to execute the delegated competencies:

Jankovic Popovic Mitic is advising China Shandong on the concession of the Banja Luka – Prijedor project.

On 26 October 2018 the Law on the Amendments and Supplements to the Air Transport Law ("Official Gazette of the Republic of Serbia", no. 83/2018) (hereinafter: the "Law") was adopted and entered into force on 6 November 2018.

The Serbian Parliament adopted the Law on Financial Collaterals on 8 June 2018, which will become effective as of 1 January 2019. To implement the solutions from the Law on Financial Collaterals, the Serbian Parliament also adopted amendments to the Bankruptcy Law, which will enter into force on 1 January 2019.

The new element introduced by this Bill relates to the establishment of a Games of Chance Administration, and defining the tasks and competences of this Administration; no changes or amendments of the present Law with regard to material regulations are envisaged.

JPM advised Organigram Holdings Inc., the parent company of Organigram Inc., a licensed producer of medical marijuana in Canada, on a private placement investment in Eviana Health Corporation. Organigram and an unnamed strategic institutional investor each participated 50% in a USD 10 million debenture offering by Eviana.

Serbian Government took a significant step towards harmonization of data protection regulations with GDPR. On September 24, the Government adopted a Bill on Personal Data Protection (“the Bill”) . Only a day after, the Bill was sent to the National Parliament to be adopted at first regular session in autumn starting from October 2018.

Jankovic Popovic Mitic has advised Adp Gauselmann GmbH, a member of the Gauselmann Group, on the sale of 49% of shares in its Serbian subsidiary, Merkur Gaming Slots d.o.o., to Aleksandar Jojic. BDK Advokati advised Jojic, a minority shareholder of Balkan Bet, on the acquisition.

On 28th June 2018 National Assembly of Republic of Serbia rendered Law on simplified work engagement on seasonal jobs in certain activities, which will be applicable starting from 8th January 2019. The Law aimed to establish easier system of engagement of seasonal workers through e-portal managed by tax administration, which shall simplify the procedure of registration and deregistration of seasonal workers. In addition, Law is striving to improve position of seasonal workers especially in regard of contributions for mandatory social insurance.

The amendments to the Law on financial support of families with children have been adopted in December 2017, while they are applied staring from 1st July 2018. In addition, separate Rulebook stipulating the conditions and manner of exercising the right on financial support to families with children was rendered.

AP Legal Belgrade and CMS Bucharest have advised the lenders of Victoria Group a.d. Beograd and its subsidiaries on the sale of its loan receivables to MK Group d.o.o. Belgrade. Jankovic, Popovic, Mitic advised the Victoria Group.

Starting from 7th July 2018 amended Law on amicable resolution of labour disputes is in force. Main reason for amendments is to introduce possibility of concluding agreements in individual disputes, extending deadlines and supervising results of amicable resolution of disputes through statistics.

On 28th June 2018 National Assembly of Republic of Serbia rendered Law on amendments of Law on the conditions for assigning employees to temporary work abroad and their protection, which amendments came into force on 7th July 2018. Purpose of the amendments is to reduce bureaucratic procedure that employers must undergo during the process of assigning employees to work abroad. In that way, the whole process shall be easier and shorter, and performing business more effective, deprived of unnecessary and delaying steps.

National Assembly of Republic of Serbia rendered amendments of several labour-related laws and adopted a new regulating seasonal work. We would hereby like to introduce you to the respective changes that have an impact on rights and obligations of both engaged personnel and employers.

Jankovic Popovic Mitic has advised VTB Bank on the sale of 100% of its stake in VTB Banka a.d. Beograd to AZRS Invest doo Beograd.

JPM has advised Raiden Resourced Limited, a publicly listed Australian mining company, on the process of raising additional funds to explore and develop its future mining projects through the acquisition of 100% Western Australian-based Timok Resources — the parent company of Serbian companies Kingstown Resources and Skarnore Resources. Australian law firm Bellanhouse advised Raiden Resourced Limited on Australian aspects of the deal.

Jelena Aleksic has been promoted to Partner at JPM Jankovic Popovic Mitic.

Partner Dino Jusufovic has left JPM Jankovic Popovic Mitic.