SERBIA: Forced liquidation

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SERBIA: Forced liquidation

We would like to inform you that the Business Registers Agency has begun to implement the procedures of forced liquidation, in accordance with the Opinion of the Ministry of Economy, number 011-00-00258 / 2016-10.

To recall, the application of provisions relating to forced liquidation was suspended until now, based on the previous opinion of the Ministry of Economy.

In accordance with the law, forced liquidation shall be initiated:

1) If an injunction is imposed on a company by a valid and enforceable document barring it from carrying on a business activity or revoking its permit, licence or authorisation to carry on a business activity and such company fails to register a change of predominant business activity or to initiate liquidation within 30 days of the date when such document became final and enforceable;

2) If within 30 days of expiration of its duration a company does not register an extension of duration or fails to initiate a liquidation procedure in the same period;

3) If a general partnership is left with a single partner or a limited partnership is left without a general partner or a limited partner and a missing member does not accede the company within three months or the company does not change its legal form within the same period to a form for which it is eligible in accordance with this Law or it fails to initiate a liquidation procedure within the same period;

4) If a company’s share capital falls below the minimum amount provided by this Law and the company concerned does not increase its share capital at least up to the amount provided by this Law or the company does not change its legal form within the same period to a form for which it is eligible in accordance with this Law or it fails to pass a decision to liquidate and fails to register such change within the same period in accordance with the law on registration;

5) If a company fails to submit to the competent register its annual financial statements for an accounting year by the end of the succeeding accounting year or if it fails to submit an opening balance sheet in accordance with the law governing accounting and auditing;

6) If a valid and enforceable judgement voided the registration of a company by its founders in accordance with the law on registration or voided a company’s instrument of incorporation in accordance with Article 14 of this Law;

7) If a valid and enforceable judgement ordered the dissolution of a company in accordance with Article 469 of this Law and the company concerned fails to initiate a liquidation procedure within 30 days of the date when the judgement becomes final and enforceable;

8) If a company is left without a legal representative and fails to register a new one within three months of the date of deletion of a legal representative from the register of economic operators;

9) If a company in liquidation is left without a liquidator and fails to register a new one within three months of the date of deletion of a liquidator from the register of economic operators;

10) If an adopted opening liquidation report is not submitted to the register of economic operators in accordance with Article 536 paragraph 6 of this Law;

11) In other cases provided for by this Law.

2018-07-03T12:59:35+00:00 06.06.2018|Laws, Serbia|
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