LEGAL ACTS IN ENGLISH
 
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Legal Acts in English Online
Group: FOREIGN INVESTMENTS AND FOREIGN ECONOMIC RELATIONS  
Issue: CONCESSIONS LAW - OUTDATED
Published in the Slu┼żbeni glasnik RS, No. 55/03 of 27 May 2003
Contents
Section: I BASIC PROVISIONS
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  • Subject Matter of the Law
     Article 1
    The present Law shall determine the conditions for, way of and procedure for granting concessions to exploit natural resources, goods in general use that are the property of the Republic of Serbia under law and for conducting a business of general concern; subject matter of concession; duration of concession period; concession contract; concession fee; exercise of concessionary rights and duties; foundation and operation of concessionary enterprises and other matters of importance for the exploitation of concessions.
  • Principles
     Article 2
    The determination of the conditions for, way of and procedure for granting concessions shall be based on the principles of equal and fair treatment, free market competition and autonomy of the contracting parties’ volition.
    The principle of equal and fair treatment encompasses a prohibition against discrimination on any grounds among participants in the concession granting and concessionaire selection procedure, as well as the duty to provide the participants in the concessionaire selection procedure with full and accurate information on the procedure, standards and criteria for the selection of concessionaires. No participant in the concessionaire selection procedure may have advantage over others with regard to time, information and access to the agencies responsible for the concession granting procedure. Decisions shall be rendered on the basis of objective criteria that have been announced in advance, which shall be presented to each participant in the selection procedure together with reasoning.
    The principle of free market competition encompasses a prohibition against the restriction of competition among participants and the duty to accept all participants whose bids satisfy the requirements determined by law and the deed of concession.
    The principle of the autonomy of volition encompasses the freedom of the contracting parties to determine their mutual rights and duties on their own volition, in conformity with laws and regulations and good business practices.
  • Concept of Concession
     Article 3
    For the purposes of the present Law, a concession shall be understood to mean the right to exploit a natural resource and goods in general use or to conduct a business of general concern, granted by the competent government agency (hereinafter: the Grantor) to a domestic or foreign person (hereinafter; the Concessionaire) for a specified period of time, on the terms set by this Law and against payment of a concession fee.
    For the purposes of the present Law, a foreign person shall be understood to mean one of the following: a foreign legal entity whose head office is abroad; a foreign individual; or a citizen of the state union of Serbia and Montenegro who has been residing abroad for more than a year.
    For the purposes of the present Law, a concession shall also be understood to mean a B.O.T. (build-operate-transfer) system concession, including all forms of this system, based on the construction or reconstruction and financing of a complete building, installation or plant, its exploitation and transfer of the title to it to the Republic of Serbia (hereinafter: the Republic) within the contracted term.
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