At a sitting held on 23 May 2011, the Finance Committee members considered the amendments submitted to the Bill on Consensual Financial Restructuring of Companies, Bill on Protection of Financial Service Users and the Bill amending the Tobacco Law.

Out of the total of 19 amendments submitted to the Bill on Consensual Financial Restructuring of Companies, the Government and the Committee accepted three.

73 amendments were submitted to the Bill on Protection of Financial Service Users. The National Bank of Serbia and the Committee accepted 13 of the amendments, while the Committee also submitted 6 amendments of its own to articles 19, 21, 23, 34, 50 and 54 of the Bill.

The 1 amendment submitted to the Bill amending the Tobacco Law was accepted by neither the Government nor the Committee.

Branka Ljiljak, Committee Deputy Chairperson, was appointed the Committee’s rapporteur on the three Bills.

By a majority of votes, the Committee members established the Proposal of the Decision on the Establishment and Work of the Fiscal Council Expert Services.

The Committee went on the consider the National Bank of Serbia 2009 Annual Account with the Report of the Authorised Auditor, National Bank of Serbia 2009 Annual Report, Decision amending the Decision on the adoption of the National Bank of Serbia 2010 Financial Plan and National Bank of Serbia 2011 Financial Plan presented by Mira Eric-Jovic, NBS Vice-Governor.

The Committee also considered the State Audit Institution (DRI) 2010 Annual Activity Report presented by the DRI Council President Radoslav Sretenovic, and the Committee members will vote on the report in the continuation of the sitting.

In the continuation of the sitting, the Committee will also review the National Bank of Serbia Council of Governors 2010 Activity Report.

The sitting was chaired by Zoran Krasic, Committee Chairman.

In the continuation on 7 June 2011, the Committee noted that the State Audit Institution (DRI) 2010 Annual Activity Report presented by the DRI Council President Radoslav Sretenovic, had been reviewed and went on to consider the National Bank of Serbia Council of Governors 2010 Activity Report.

President of the NBS Council of Governors Bosko Zivkovic presented the Report to the Committee members saying that the new Law on the National Bank of Serbia passed in mid-2010 resulted in the adoption of a new NBS Statute and Rules of Procedure. Last year, the Council established the dinar exchange rate regime keeping the existing fluctuating exchange rate regime with the possibility of NBS intervening on the interbank market. The Council adopted the 2009 Annual Plan, adopted a Financial Plan for 2011, with a special focus on auditing and cooperation with the DRI, authorised external auditor, as well as internal audit at the NBS. The Council also performed quarterly reviews of the reports of the NBS Governor and Executive Board.

The sitting was chaired by Zoran Krasic, Committee Chairman.