At its session held on 13 September 2005, the Finance Committee of the National Assembly of the Republic of Serbia discussed and endorsed the Report on the Activities of the Securities and Exchange Commission with its associated Annual Balance for 2004 and the Report of the authorised auditor.

The reports were presented by the chairman of the Securities and Exchange Commission, Milko Stimac, who also acquainted members of the Finance Committee with the Commission’s proposals for urgently adopting wide-ranging legislation to regulate the financial market and thereby ensure its more efficient functioning and further development. Mr Stimac also gave his comments to the draft Investment Funds Act.

The Finance Committee appointed members of a working group charged with selecting the most favourable bidder to perform external audits of final balances of the budget of the Republic of Serbia. The working group, made up of Sava Urosevic, Zoran Andjelkovic, Slavoljub Matic, Sanja Cekovic and an additional World Bank official, will be given two weeks to select the most favourable bidder.

The session was chaired by the vice-chairman of the Finance Committee, Rade Obradovic.