STOP NATO: �NO PASARAN! - HTTP://WWW.STOPNATO.ORG.UK --------------------------- ListBot Sponsor -------------------------- Get a low APR NextCard Visa in 30 seconds! 1. Fill in the brief application 2. Receive approval decision within 30 seconds 3. Get rates as low as 2.99% Intro or 9.99% Ongoing APR and no annual fee! Apply NOW! http://www.bcentral.com/listbot/NextCard ---------------------------------------------------------------------- Serbian Parliament Adopts Privatization Laws BELGRADE, Jun 28, 2001 -- (dpa) The Serbian parliament on Wednesday adopted a package of reform laws regulating privatization and providing for full ownership transformation within four years. The transformation of the so-called socially-owned enterprises to state or private capital would be led by the privatization agency, established by a separate law. An invention of the late Yugoslav president Tito's version of socialism, the socially-owned capital - and its unclear status as "everybody's and nobody's" - was seen as a major deterrent to foreign investors and also created broad grounds for abuse. Some of socially-owned companies, including those of strategic interest or those unable to draw buyers, would presumably be transformed to state ownership before their future status is determined. The package also includes laws establishing a shares fund and the central registry of shares. The new privatization law retains the distribution of a stake to employees, but it reduces it to between 10 and 30 percent, depending on the speed and the type of the transformation. Quick sale of capital directly to a buyer increases the stake of employees, while slow transformation and sale through a tender reduces it. The legal package also establishes free trade of securities on the financial market. Serbia is one of two republics remaining in the rump Yugoslavia, which has disintegrated during conflict over the past decade. (C)2001. dpa Deutsche Presse-Agentur GmbH. __________________________________________________ Do You Yahoo!? Get personalized email addresses from Yahoo! Mail http://personal.mail.yahoo.com/ ______________________________________________________________________ To unsubscribe, write to [EMAIL PROTECTED]
