The new Enforcement and Security Act was adopted on 18 December 2015, and will be effective as of 1 July 2016. The most prominent changes under the new act are: the introduction of certain legal institutes which were, in an effort to promote expediency and efficacy, omitted in the current version of the act; a redefinition of the competence of the courts and public enforcers; the status/role of public enforcers, and their increased disciplinary accountability. Most importantly, the new Act introduces the possibility to lodge an appeal against both the decisions of the court and of the enforcer, except in cases […]
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On October 1, 2015, the new Payment Services Act came into force. This new piece of legislation introduced numerous and rather important changes to the Serbian payment operations system. These changes are also a part of Serbia’s harmonization with European Union laws and business practices, which presumes liberalization of payment services provision and widening of authorized service providers in this field, other than the National Bank of Serbia (NBS) and licensed banks, will have a significant positive impact on the market efficiency. One of the most significant changes in this sense introduced in the Payment Services Act relates to the formation of a […]
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