Montenegrin "Luka Kotor" Port Fined For The Abuse Of Dominance

Bisera Andrijasevic of BDK Advokati discusses a recent fine of Montenegrin “Luka Kotor” port for the abuse of dominance. The Montenegrin antitrust authority, the Agency for Protection of Competition of Montenegro (“Agency“), announced that the Higher Misdemeanour Court of Montenegro imposed on 10 July 2018 a fine in the amount of EUR 27.249,54 on the Montenegrin port operator “Luka Kotor” A.D. (“Luka Kotor“) for abuse of dominant position that had been established by the Agency in 2016. The fine represents 1% of the infringer’s relevant turnover. The court also fined Luka Kotor’s…

Serbian Planning and Construction Act Further Revised to Promote Investments into Real Estate Development

The validity of local conditions, one of the initial and most important documents in the permitting process showing what investor can build on certain piece of land, is to be extended from one to two years. The deadline to commence work under construction permit is also to be extended from two to three years from the issuance of the permit, to allow more time for investors to raise funds. Although the proposed amendments are welcome, there is room for further improvement. Milan Dakic, partner at BDK Advokati, discussed the remaining pitfalls of the Planning and Construction Act in the June edition…

A New Period in Tourism Investments: Room Sales to Third Parties

Within the last year, it has become possible for tourism investors to get an extension of up to 49 years for the term of usage rights granted on public real properties; and to acquire the real properties on which an easement right is established or has been allocated in favor of the tourism investors or the operators. On 30 June 2018, another long-awaited amendment was made to the Regulation on Certification and Qualifications of Tourism Facilities, legalizing the sales of hotel rooms in the tourism facilities to third parties. Busra Ozden, Associate at SEE Legal’s Turkish member, Kolcuoglu…

European Commission’s Qualified Support to Serbia’s Draft Data Protection Law

Bogdan Ivanisevic of SEE Legal's Serbian member BDK Advokati Discusses European Commission’s Qualified Support to Serbia’s Draft Data Protection Law: Earlier this week Serbian public got an opportunity to acquaint itself with the general comments and detailed comments by the European Commission (EC) of the Serbian government’s draft data protection law. The purpose of the EC’s comments, written in April 2018, was to assist the government to create a decent bill. At the same time, the comments represent a kind of a verdict on the government’s law-making effort. Serbian data protection…

Albania Adopts New Support Schemes for Solar and Wind Power Plants

Flavia Xhafo, Senior Associate at KALO & ASSOCIATES discussed Albania’s potential in developing other sources of renewables, such as solar or wind power plants, in addition to hydropower plants, generating more than 95% of the electricity in Albania. In February 2017, the Parliament approved the new law on Incentives for Using of Energy from Renewable Sources (the “2017 RES Law”), which is partially aligned with the EU RES Directive No. 2009/28/EC, as part of the Acquis – an obligation Albania has as a potential candidate for accession to EU. The 2017 RES Law establishes the broad…

Greece Adopts the Long-awaited Law Implementing the 4th EU Anti-Money Laundering Directive

Greek Law 4557/2018, published on 30 July 2018, implements Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. Highlights of the new law include: a number of modifications relating to the areas of risk based approach; ongoing monitoring; beneficial ownership; customer due diligence; and politically exposed persons. To learn more, please download the summary of these main features, prepared by SEE Legal’s Greek member KG Law Firm.

Availability of Domain Name Holders' Data in Europe Limited to a Minimum?

BDK Advokati discuss a recent desion of the German Regional Court and its possible implications. In a decision based directly on the GDPR, a German court recently prohibited collection of broad categories of personal data during the process of registration of internet domain names. If the decision portends the way in which courts in Europe will handle the issue, availability of the data regarding the holders of internet domain names will in the future be limited to a minimum. A German Regional Court (Landgericht) in Bonn delivered the ruling on 29 May 2018 in the dispute between ICANN (Internet…

BDK Advokati Contribute to Getting the Deal Through: Telecoms and Media

BDK Advokati gave overview of the Serbian regulatory framework concerning telecoms and media in Getting the Deal Through: Telecoms and Media. The analysis was authored by Bogdan Ivanisevic, Pablo Perez Laya and Zorana Brujic. Telecoms In the summary of the regulatory framework for the telecoms sector in Serbia, the authors focused on the Electronic Communications Act as the key piece of legislation. They explained the institutional structure and competencies of relevant state bodies, including: the Government of Serbia, the Ministry in charge of the telecommunication and information society…

Proposal of the Financial Instruments Market Act approved by the Slovenian Government

On 26 July 2018, the Slovenian Government approved the proposal of the Financial Instruments Market Act, as well as the amendments to the Act on Alternative Investment Fund Managers and the Law on Investment Funds and Management Companies, which are closely related in substance to the first law. The main purpose of the Financial Instruments Market Act is to transpose the Markets in Financial Instruments Directive (MiFID II) into Slovene legislation. The proposal regulates, inter alia, the rights of investors, liabilities of investment firms and supervisory institutions. The detailed rules and…

Recent Legal Developments in Relation to Internship and to Equality of Chances and Treatment for Women and Men in Romania

The July 2018 Employment Flash News of SEE Legal's Romanian member, Nestor Nestor Diculescu Kingston Petersen (“NNDKP”), is featuring recent legal developments in relation to internship and to equality of chances and treatment for women and men. Romanian Law no. 176/2018 on internship was published within the Official Gazette no. 626 of July 19, 2018 and it regulates the performance of internship programs for persons over 16 years of age. As an exception, persons aged 15 may conclude internship contracts only with the consent of their parents or legal representatives. According to this…

KDK Discusses Turkey-specific Information on Confidentiality

KDK's attorneys Bihter Bozbay and Yasemin Guctekin discuss Turkey-specific information on confidentiality in an article, published by Practical Law. To read the article, please download it here.

The Long-awaited Reform of the Greek Law on Sociétés Anonymes

It has been common ground that the legislative framework on sociétés anonymes (SAs) originally legislated back in 1920, has been, despite the various reforms since then, to some extent dysfunctional and “old-fashioned”. The limited and fragmental reform to the C.L. 2190/1920 in 2007 through Law 3604/2007 as well as a number of other amendments effected mainly for the purposes of transposing into the Greek jurisdiction company law related EU Directives were not proven sufficient to redress the above. Law 4548/2018, which was passed by the Hellenic Parliament on June 13, 2018 and was published…