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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:

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.

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.

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.

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.

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JPM Jankovic Popovic Mitic at a Glance

JPM Jankovic Popovic Mitic is the leading law firm in Serbia, providing full service in Serbia and SEE region. Since 1991, we have been serving national and international clients from various industries in establishing, building and maintaining their business presence in Serbia and SEE. Our expertise, commitment, experience and the highest standard practice has been proven and recognized on the market. Our track record comprises numerous successfully completed landmark transactions in a developing and transitional economy. We are committed to finding solutions and providing flexibility of choice to our clients.

JPM is the founding member of Top-tier Legal Adriatic (TLA) a Vienna-based alliance of leading law firms operating in the Adriatic region. It is an association of independent business law firms with an excellent reputation obtained both locally and internationally, providing a full range of legal services to foreign and domestic clients hailing from various industries.

Firm's website: http://jpm.rs/

TLA website: http://toptierlegal.org/