The Privatisation Committee of the National Assembly of the Republic of Serbia held its twenty-first session on 8 September 2004.

In view of the fact that Milko Stimac, who had chaired the Committee until the session, had resigned to enable him to take up the office of Chairman of the Securities and Exchange Commission, Committee members unanimously elected Nikola Novakovic, one of their number, chairman of the Privatisation Committee.

The Report on the Activities of the Privatisation Agency for April, May and June 2004 was not accepted; at the suggestion of the new chairman, it was decided to request the Ministry of Economy and the Privatisation Agency to submit their reports regularly, i.e. to forward the report on their activities in the previous month and the plan of next month’s activities by the 10th of every month.

The chairman reiterated that ministers in the Government of the Republic of Serbia were obligated to attend Committee sessions, and it was concluded that future sessions of the Privatisation Committee would have to be attended by representatives of the Ministry of Economy and the Director of the Privatisation Agency.

Having discussed the Report of the Privatisation Agency on the monitoring of the fulfillment of the obligations of the buyer of the Kursumlija-based clothing manufacturer Modna konfekcija 7. juli Joint-stock Company, the Committee recommended, in line with the Committee’s Conclusion passed on 19 August 2004, that the Agency should terminate the contract with the buyer due to a violation of contractual obligations. Committee members requested a revenue inspection to be carried out at the company, asking the Revenue Administration to submit a report on the inspection to the Privatisation Committee within eight days.

The Committee also discussed the Report of the Working Group, formed at the Committee’s session held on 19 August 2004, on the fulfillment of the contractual obligations of the buyer of Valjevo-based retailer Uzor Joint-stock Company, the Report of the Ministry of Economy on the monitoring and fact-finding inspection at Bor-based Centroistok, in accordance with the Committee’s Conclusion passed on 6 July 2004, along with the Report of the Privatisation Agency on current issues relating to the privatisation of Centroistok, as well as the Agency’s Report on the situation in Kraljevo-based Elektron after the filing of the suit for the termination of the contract and the request for the passing of a court ruling prohibiting the use of the company’s property.

Committee members discussed reports of the Privatisation Agency on the fulfillment of the contractual obligations of buyers of Kosjeric-based Moda-Komerc Joint-stock Company and the Jermenovci-based Jovanovic-Jermenovci Joint-stock Company, the Agency’s Report on the possibility of authorising the re-programming of debts arising from buyer subsidies incurred by Rekovac-based Levac Joint-stock Company and solving problems relating to the claims of Agrobanka, in accordance with the Committee’s Conclusion passed on 27 July 2004, and the Report from the meeting of representatives of the Privatisation Committee and deputies from the Backa Palanka constituency with representatives of small shareholders and trade unions of Backa Palanka-based Podunavlje Joint-stock Company, held in accordance with the Committee’s Conclusion passed on 27 July 2004.