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Draft law on denationalisation and building land presented
Belgrade,
14 May 2007
Serbian Minister of International Economic Relations Milan Parivodic presented today the Draft law on denationalisation and building land that the government supported at its session on May 10.
Milan Parivodic
Parivodic told a press conference held in the government press room that restitution requests will amount to between €1.5 billion to €3 billion noting that the state set aside €4 billion for this purpose.
He noted that implementation of the law must not hamper macroeconomic stability, gained rights must not be endangered so neutral restitution will be implemented wherever it is possible by returning the confiscated land and facilities.
According to him, if natural compensation is not possible, the state will grant bonds for a period of 20 years with an interest rate of 4.5%.
Parivodic noted that remuneration per case will not exceed €1 million.
The process of denationalisation must be fast and new users of land must be registered within 1.5 years at the latest, the Minister said noting that property will be returned only to those who had not received any remuneration when their property was denationalised.
Parivodic noted that adoption of this law is a precondition for EU accession and highlighted that the proposal was supported by Vice President of the European Parliament Edward McMillan-Scott and voiced hope that the new government will also back the draft.
The deadline for submitting denationalisation requests is December 31, 2008. So far, 73,000 requests arrived.
He noted that implementation of the law must not hamper macroeconomic stability, gained rights must not be endangered so neutral restitution will be implemented wherever it is possible by returning the confiscated land and facilities.
According to him, if natural compensation is not possible, the state will grant bonds for a period of 20 years with an interest rate of 4.5%.
Parivodic noted that remuneration per case will not exceed €1 million.
The process of denationalisation must be fast and new users of land must be registered within 1.5 years at the latest, the Minister said noting that property will be returned only to those who had not received any remuneration when their property was denationalised.
Parivodic noted that adoption of this law is a precondition for EU accession and highlighted that the proposal was supported by Vice President of the European Parliament Edward McMillan-Scott and voiced hope that the new government will also back the draft.
The deadline for submitting denationalisation requests is December 31, 2008. So far, 73,000 requests arrived.
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