Q:
A:
Draft law on denationalisation enters final stage
Belgrade,
22 October 2007
State Secretary at the Ministry of Finance Slobodan Ilic said today that the draft law on denationalisation is in the final stage and announced that priority in return of property to original owners will be natural restitution.
Author:
Fonet
Speaking at a roundtable “Restitution – Privatisation of Construction Land”, Ilic said that if the property cannot be returned, it will be compensated for and noted that the amount of compensation which will include one-time payments and emission of bonds cannot exceed €4 billion.
He added that the state is already burdened with between €250 million and €300 million for old currency savings.
Natural restitution will start immediately after the law is passed whereas compensation in bonds will be applied two years after, he announced.
Ilic stated that out of 73,000 requests for return of 140,000 properties, 65% refers to land – agricultural, construction or forest.
Advisor to the Serbian Prime Minister and one of creators of this bill Milan Parivodic said that at least 80% of city construction land should be denationalised in the universal regime of ownership of buildings and land.
He explained that the draft law envisions that if the original owner received no compensation for confiscated land, the right of use of the property is turned into long-term lease, and the municipality sets the price that the lessee pays to the land owner.
He added that the state is already burdened with between €250 million and €300 million for old currency savings.
Natural restitution will start immediately after the law is passed whereas compensation in bonds will be applied two years after, he announced.
Ilic stated that out of 73,000 requests for return of 140,000 properties, 65% refers to land – agricultural, construction or forest.
Advisor to the Serbian Prime Minister and one of creators of this bill Milan Parivodic said that at least 80% of city construction land should be denationalised in the universal regime of ownership of buildings and land.
He explained that the draft law envisions that if the original owner received no compensation for confiscated land, the right of use of the property is turned into long-term lease, and the municipality sets the price that the lessee pays to the land owner.
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