Introduction Definition of terms (chapter 1) Legal system of Bosnia and Herzegovina (chapter 2) Legal forms of company la !

! sources of la (chapter ") #undamental concepts a$out state and la (chapter %) #undamentals of La of &$ligations (chapter ') La$our la (chapter () )ompany La (chapter *) )ompany+s lia$ility (chapter ,) )ompany status changes (chapter -) .ystems of esta$lishing companies (chapter 1/) )ompany identifiers (chapter 11) 0ntering $usiness into the court register (chapter 1")

APPLIED BUSINESS LAW COMPANY LAW -some different terms: Corporation law, Business law, Law on Associations and Law on Commercial Companies Law on Enterprises -preferred: !Business law designates the academic discipline [Poslovno pravo - oznaava akademsku disciplinu] !Compan" law more suitable for this discipline and content [vie prikladan za ovu disciplinu i sadr a!] "pplied #usiness $a% & #usiness la% includes: -Compan" law [zakon o kompani!ama] -Law on o#li$ation [obligaciono pravo] -La#or law [radniko pravo] -Contractual law [zakon o ugovorima] -Securities [vri!ednosnice] -Business Law is a broader 'ira( discipline and includes various matters such as different business contracts especiall): contracts of sale, securities & la% on competition* +nderstanding of the legal s)stem of #&, is necessar) for other economics courses: !Ban%in$ insurance $o&ernment 'inance securities an( international #usiness law [#ankarstvo, osiguran!e, vladine finansi!e, vri!ednosni papiri i me-unarodno poslovno pravo] !Le$al SYS)EMS [Pravni sistemi] -is set of the general legal norms distributed bases on their content 'social relations the) regulate(, into a number of smaller or larger linked as %hole [!e skup op.ih pravnih normi distribuiranih na osnovu n!ihovog sadr a!a 'drutvenih odnosa ko!e regulira!u(, u nekoliko man!ih ili ve.ih povezanih u c!elinu] */ ma!or legal s)stems-legal circles in the %orld: -European Law or Continental Law [0uropsko pravo ili 1ontinentalno pravo] 23Page

-Common Law or An$lo*Sa+on Law [4a!edniko pravo ili "nglo-5aksonsko pravo] -Islamic Law or )ra(itional Law [6slamsko pravo ili 7radicionalno pravo] Continental Law ,European Law- [0uropsko pravo ili 1ontinentalno pravo]. -is the most prevent legal s)stem in modern %orld -the oldest in human histor) -ma) also be referred to: /oman Law /oman*0ermanic Law 0ermanic Law or Continental Ci&il Law -based on a code, or 8a s)stematic collection of interrelated articles %ritten in a terse staccato st)le [temel!i se na kodu, ili 9sistemskom prikupl!an!u me-usobno povezanih lanaka zapisanih u ovom stil:] -for e;* 7he <ode =apoleon '<ontinental <ivil $a%(: -of Persons [osobe] -of 7hings and the >ifferent ?odifications of @%nership [stvari i razliiti naini prom!ene vlasnitva] -of the >ifferent ?odes of "cAuring the @%nership of 7hings [razliiti naini st!ecan!a vlasnitva nad stvarima]

Common Law or An$lo*Sa+on Law [4a!edniko pravo ili "nglo-5aksonsko pravo] -refers to $a% and corresponding legal s)stem developed through decision of courts and similar tribunals 'called: <ase $a%(, rather than trough legislative statues* [pravo i odgovara!ui pravni stistem razvi!en kroz odluke sudova i sl* tribunal, nego kroz zakonodavne statute] -created & refined b) !udges -current decision depends on decisions in previous cases and it %ill be applied in future cases !P/ECEDEN) is an official action or decision that has happened in the past and that is seen as an e;ample or a rule to be follo%ed in a similar situation later [Presedan - !e slu bena radn!a ili odluka ko!e se dogodila u prolosti te !e vi-ena kao prim!er ili pravilo ko!e treba sli!editi u slino! situaci!i kasni!e] -if a similar dispute 'spor( has been resolved in the past, the court is bound to follo% the reasoning used in prior decision -%hen there is no legal statement of la% from the past, !udges have the authorit) & dut) to make la% b) creating PB0<0>0=7 -bod) of precedent is called 8<ommon $a%: and binds future decisions -so %hen parties disagree on 8%hat the la% is: court %ill look to past precedential decisions Islamic Law ,S1A/IA- or )ra(itional Law [6slamsko pravo ili 7radicionalno pravo] -5haria is bod) of 6slamic religious la% -it means 8%a): or 8path to the %ater source: -legal frame%ork that regulates public and political aspects of life for those living in legal s)stems based on 6slamic principles of !urisprudence and for ?uslims living outside the domen* C3Page

-deals %ith: [bavi se] politics economics #an%in$ #usiness contracts 'amil" se+ualit" 2"$iene social issues [politikom, ekonomi!om, bankarstvom, poslovan!em, ugovorima, porodicama, seksualnosti, higi!enom, soci!alnim pitan!ima] *5haria is more of s)stem of $a% -no strictl) static set of la%s of 5haria -based on DurEan Le$al S"stem o' B31 ,LS B31- [pravni sistem #6,] -has been determined b) the specific stated in our constitutional order andFor constitutional solutions that resulted from the >e)ton Peace "ccord [Pravni s)stem #i, !e odre-en prema specifinostima navedenim u naem ustavnom poredku iFili ustavnim ri!een!em ko!a su rezultat >e!tosnog mirovnog sporazuma] -#&, is the result of the dissolution of the former 5GBH -general frame%ork is 87he "greement for Peace in #&,: -has I6 "nne;es and number of 6nternational <onventions -"nne;es 6J & I are the constitution in technical meaning of this term* B31 consist of t%o 0ntities: !4EDE/A)ION o' B31 [Gederaci!a #i,] !)1E /EPUBLIC O4 S/PS5A [Bepublika 5rpska] and KBr6%o District as a special part of #&, territor) [#rko distrikt] Gederation of #&, -consist of 2L <antons %ith significant level of legislative authorizations and po%ers* -have o%n constitution 7he Bepublic of 5rpska -%ithin the B5 is ?unicipalities 'op.ine( -have o%n constitution #rko >istrict -established b) @,B -under direct authorit) of central government of #&, '2*( Girst & ,ighest $0M"$ #"50 for !oint legislation at the level of #&, is presented b) the <@=5767+76@= of #&, '2NNO( as integral part of >e)ton Peace "ccord* [Prvi i na!ve.i 8Pravni temel!: za za!ednoko zakonodavstvo +stav #i, F u sklopu >e!tonsog mirovnog sporazuma] 'C*( 5econd $0M"$ #"50 is !oint legal regulations at the level of #&, as state* [>rugi pravni temel! su ze!edniki zakonodavni propisi na nivou dr ave #i, #&, / different legislation levels [zakonodavni nivo] 2st level of #&, P"B$"?0=7 is legislation bod) [nivo dr ave #i, Parlament !e zako* ti!elo] Cnd level are 0ntities levels "ssemblies [nivo entiteta 5kuptina !e zakonodavno ti!elo] /rd level of <antons in G #&, "ssemblies [nivo kantona G #i, 5kuptina !e zakonodavno ti!elo]

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7here are la%s that are: -uniform %ith territor) of #&, as a %hole [na prostoru itave #i,] -the la%s that e;ist on the territor) of the G #&, [na prostoru Gederaci!e] -the la%s that e;ist on the territor) of the B5 [na prostoru Bepublike 5rpske] -the la%s that e;ist on the <anton territor), but %ith G #&, itself [na prostoru kantona u G #i,] -the la%s that e;ist on the territor) of the #rko >< [na prostoru #rko >istrikta] Council o' Ministers is Movernment of #&, v!e.e ministara -competence are still limited [ograniene ovlasti] 1i$2 /epresentati&e 'or B31 [visoki predstavnik za #i,] -special and important institution for #&, -has authorization to in-force ne% provisions independentl) of political %ishes or %ishes of members of different assemblies in #&, Super&isor 'or Br6%o District [5upervizor za #rko distrikt] -same authorizations as ,igh Bepresentative for #&, Directorate 'or EU inte$rations 'institution([ >irekci!a za 0+ integraci!e 'ustanova(] -instituted b) separate $a% on 7he <ouncil of ?inisters -coordinating activities of governmental bodies of #&, -preparing drafts & proposals of policies, la%s, other provisions and guidelines in order to include #&, into 0uropean integration process -giving initiatives & consulting

Directorate 'or EU inte$rations is competent 'or7 [=">$0P=@576] -coordinating !obs %ith #&, s)stem harmonizing %ith standards for the accession to the 0uropean +nion communit) la%* [kordinira poslove oko harmonizaci!e #i, sa standardima 0+ pravima za!ednice] -checking the compliance of all the drafts of la% 'submitted b) ministries and administrative organizations to t2e Council o' Ministers( %ith W1I)1 BOO5 directives* [prov!erava uskla-enost svih nacrta ko!i se podnesu vi!e.u ministara od strane ministarstava i administrativnih organa sa direktivama 8#i!ele kn!ige:] W2ite #oo% directives for integration [#i!ela kn!iga udru en!e zemal!a 5redn!e i 6stone 0vrope za integraci!u unutran!ih tr ista i procedure za ispun!avan!e zaht!eva relevantnih direktiva* -charge for contracts %ith 0uropean <ommittee 'as technical-operative bod)( [za kontakte sa 0vropskim odborom] -coordinate over implementing the decisions b) competent bodies and institutions of #&,, 0ntities and #rko >< Q regarding all the activities necessar) for 0uropean integration* [kordinaci!a tokom provedbe odluka nadle nih organa i instituci!a** u vezi svih aktivnosti potrebnih za 0vropske integraci!e] Directorate 'or EU inte$rations participate in7 [+R057J+S0 +]

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-activities & drafting, or other regulations related to %ork that must be done in order of accession process in 0uropean integration* [uestvu!e u izradi zakona, propisa i sm!ernica ko!e se odnose na poslove ko!e !e #i, du na poduzeti u okviru procesa pristupan!a evropskim integraci!ama] -as part of 0uropean <ommitteeEs institution as part of stabilizing and accession processes* [u sklopu 0vropskog odbora u sklopu procesa o stabilizaci!i i pridru ivan!u] -coordinating of the 0+ <ommittee support for #&, [kordinaci!a 0+ odbora za podrku #i,] Directorate -not going into enumeration [nabra!an!e], onl) important is: -!oint legislation at the level of #&, [za!edniko zakonodavstvo na nivou #i,] -harmonization %ith 6nternational <ommunit) reAuirements and various 6nternational organizations [uskla-enost sa zaht!evima me-unarodne za!ednice i dr* me-unarodnih organizaci!a] -all this is pre-reAuested for accession to the international integrations to the 0+ [pred uvi!et za pristupan!e me-unarodnim integracinama u 0+] Business Law sub!ect has been regulated at le&el o' t2e Entities le&el* - Law on Business Enterprises [zakon o preduze.ima] - Law on Ban%ruptc" Procee(in$ [zakon o stea!nom postupku] - Law on )ra(e [zakon o trgovini] - Law on O#li$ation [zakon o obavezama] 5ome specific meters regulated at t2e state le&el - Domain o' 'orei$n (irect in&estment [domen izravnih stranih ulagan!a] - 4ree 8ones [slobodne zone] - Intellectual propert" ri$2ts [prava intelektualnog vlasnitva] - Protection o' consumers [zatita potroaa] - Pu#lic procurements [!avne nabavke] - 4orei$n tra(e [van!ska trgovina] - Custom polic" [carinska politika] - Competition [konkurenci!a] - Concessions [koncesi!e] 7he [Business Law] sub!ect matter deals %ith: *9oint le$al re$ulations at t2e le&el o' B31 as state *le$al re$ulations at t2e entities le&els

[>0G]

S)A)E (drava)

The state is association of families and villages for the sake of attaining a perfect and self sufficient /Aristotle A state is an association of families and their common affairs, governed by supreme power and by reason/Bodin The state is an association which, acting trough law as promulgated by a government endowed to this end with co erective power, maintains within a O3Page

community territorially demarcated the universal e ternal conditions of social order/!aclaver "tate is a territorial society, divided into government and sub#ects, whether individuals or associations of individuals, whose relationship are determinate by e ercise of this supreme co erective power / $aski Main 'i$ures o' t2e state: 'glavni elementi dr ave( -7erritor)Ffi;ed borders* -PopulationFcitizensFindividuals* -5overeignt)Fpolitical po%er, independenc), eAualit) %ith other state* -6nternational recognitionFne% states, ne% government* Population '5tanovnitvo( People or population is the human element of state* =o people no stateU -6ndia and <hina - huge population, -countries like 5an ?arino, ?onaco - var) small population* De'inite territor" 'odre-enaFdefinisana teritori!a sa granicama( -territorial sovereignt) or the superiorit) of the state over all %ithin its boundaries -complete freedom from e;ternal control 'bez utica!a drugih dr ava( -the territor) has to be definite because it ensure the e;ercise of political authorit)* -nomadic people 'have some form of political organization(, do not have a definite territor), so 'not constitute a state(* -territor) is large, or small but >0G6=60>U -a large area %ith natural resource makes a state po%erful* -large size of a state 'strategic and militar) advantages(* -territor) of a state includes land, %ater and sk) over it and natural resources* -territorial limit in the sea is an issue of controvers) in 6nternational la%*

0o&ernment 'vlada( 7he government is a political and legal arrangement in the societ)* -Vithout government 'cro%d of people and not state(* -the state e;presses itself trough the government* -5tate is abstract %hile the government is stateEs concrete shape* -it is a means b) %hich the societ) is governed* '7o !e sredstvo ko!im !e ure-eno drutvo(* -collective life is impossible %ithout a government 'condition for an) civilized life(* -the ma!or function of the government is to maintain peace lawfully* 'zakonito odr avati mir( The government acts trough three main organs: [Jlada d!elu!e kroz tri glavna ti!ela]

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 $egislature* [zakonodavna] 0;ecutive* [izvrna] Sudiciar)* [pravosudna] -7he legislature enacts la%sFparliament* -7he e;ecutive implements themFchief of state and government* -Sudiciar) ad!udicates themFcourt, attorne)* -different forms of government [from one man rule to the rule b) ma!orit)] -6n monarch), the king rules* ->ictatorship including militarism is the rule b) >ictator* So&erei$nt" '5uverenitet( - no parallel authorit) in state, and free from foreign control* -if no sovereignt), statehood is not achieved* -6t is attribute of state %hich distinguishes state as one association from other association * '7o !e atribut dr ave ko!i !e izdva!a kao !edno drutvo iz drugih drutava(* :A5L;U<A5 =Main 'i$ures o' t2e state. -"ll four elements of state are indispensable to its e;istence* -7he state posses a geographicall) identifiable territor) %ith a bod) of citizens* -6t has to have authorit) over all citizens and groups %ithin its boundaries* )erritorial or$ani8ation 'teritori!alna organizaci!a( Unitar" states [unutarna dr ava] f*e;* GB"=<0 -A unitrar" state is sometimes one wit2 onl" a sin$le centralise( national tier o' $o&ernment> [+nitarna dr ava !e ponekad sa samo !ednom, centralizirani, nacionalni rang vlasti*] -often include one or more self-governing regions* -The difference between a federation and this kind of unitary state is that in a unitary state the autonomous status of self-governing regions exists by the sufferance of the central government, and may be unilaterally revoked. 4e(eration [Gederaci!a] f*e;* +5" -4e(eration is a union comprisin$ a num#er o' partiall" sel'*$o&ernin$ states or re$ions unite( #" a central ?'e(eral? $o&ernment> X3Page

- the self-governing status of the component states is t)picall) constitutionall) entrenched and ma) not be altered b) a unilateral decision of the central government Con'e(eration [1onfederaci!a] f*e;* Bussia, +1, 5%iss, * permanent union o' so&erei$n states 'or common action in relation to ot2er states> -The difference between a confederation and a federation is that the membership of the member states in a confederation is voluntary, while the membership in a federation is not.

[>0G] LAW (pravo) -" rule of conduct or procedure established b) custom, moral or authorit) or agreement* -" code of principles based on moralit), conscience, or nature* -7he bod) of rules and principles governing the affairs of a communit) and enforced b) a political authorit)Y a legal s)stem* -" set of rules or principles dealing %ith a specific area of a legal s)stem: ta+ law@ criminal law constitutional law ci&il law #usiness law 'amil" law etc* [porezni zakon, kazneno pravo, ustavno pravo, gra-ansko pravo, poslovni pravo, obitel!sko pravo, itd*] LE0AL 4O/MS O4 COMPANY LAW7 SOU/CES O4 LAW - $egal s)stem of #osnia and ,erzegovina and #usiness $a% is prereAuisite for some other economics courses like: Ban%in$ Insurance 0o&ernance 4inance Securities etc* and for 6nternational Business Law to %hich one is elective course* [bankarstvo, osiguran!e, upravl!an!e finansi!a, vri!ednosni papiri i sl* 4a me-unarodno poslovno pravo !e izborni predmet*] 2-st* & highest le$al #ase for legislation in #&, is presented b) t2e Constitution o' B31* C-nd base is 9oint le$al re$ulations at the level of B31* /-rd level is entities le&els and this level is ver) important for the 5ub!ect #usiness $a%* -Gollo%ing issues have been defined b) #&, <onstitution "ct: 'orei$n polic" 'orei$n*tra(e polic" customs polic" monetar" polic" WA) Z3Page

institutions 'inancin$ an( pa"in$ o' international commitments o' B31@ emi$ration re'u$ees as"lum carr"in$ out o' international an( inter* entities polices 9oint an( international communications esta#lis2in$ an( 'unctionin$ re$ulatin$ o' inter*entities transport an( t2e air transport controllin$ pu#lic procurements intelectual owners2ip ,cop"ri$2t an( in(ustrial propert" ri$2ts- 'ree 8ones 'orei$n (irect in&estments e* le$islation e*#usiness e*si$nature e*$o&ernement protection o' consumers> [van!ska politika, van!ska-trgovinska politika, carinska politika, monetarna politika, V"7, finansiran!e instituci!a i pla.an!e me-unarodnih obaveza #i,, emigraci!a, izb!eglice, azili, obavl!an!e me-unarodne i me-u-entititetske politike, uspostava i funkcioniran!e za!ednikih i me-unarodnih komunikaci!a, reguliran!e prometa izme-u entiteta te promet i kontrolu zranog prometa, !avne nabavke, intelektualno vlasnitvo 'autorska prava i prava industri!skog vlasnitva(, slobodne zone, izravna strana ulagan!a, e-zakonodavstvo, e-poslovan!e, e-potpis, e-Jladine organizaci!e, zatita potroaa*] State o' Bosnia an( 1er8e$o&ina, among %hich the most important sources are: 'na!va ni!i izvori zakona na nivou dr ave #6,( - =6J@ >BP"J0U -$a% on Polic) of Goreign >irect 6nvestment in #&, '2NNZ( [4akon o politici stranih ulagan!a u #i,], -$a% on Goreign 7rade Polic) '2NNZ(, [4akon o van!skotrgovinsko! politici] -$a% on <ustoms polic) and <ustoms tariff '2NNZ([4akon carinsko! politici i carinsko! tarifi] -$a% on <ompetition 'CLL2(, [4akon o konkurenci!i] -$a% on <oncessions 'CLLC(, [4akon o koncesi!ama] -$a% on Gree 4ones 'CLLC(, [4akon o slobodnim zonama] -$a% on 6ndustrial Propert) right in #&, 'CLLC(, [4akon o pravu industri!skog vlasnitva u #i,] -$a% on <op)right in #&, 'CLLC(, [4akon o autorskom pravu u #i,] -$a% on Public Procurements in #&, 'CLLT(, [4akon o !avnim nabavkama u #i,] -$a% on Protection of <onsumers in #&, 'CLLO(, [4akon o zatiti potroaa u #i,] -$a% on V"7 'CLLW(, [4akon o V"7] -$a% on e-commerce 'CLLZ(, [4akon o e-poslovan!u] -$a% on e-signature 'CLLX(, [4akon o e-potpisu] Law sources in t2e 4e(eration o' B31 are: 'izvori zakona na novou G #i,( 0=76707516 =6J@U -$a% on #usiness 0nterprises '2NNN, CLL/ & CLLZ(, [4akon o privrednim preduze.ima] -$a% on Goreign 6nvestments 'CLL2( & registration rules,[4akon o stranim ulagan!ima, pravila registraci!e] -$a% on 5ecurities 'CLLZ(, [4akon o vri!ednosnim papirima] N3Page

-$a% on 5ecurities <ommission '2NNZ(, [4akon o komisi!i za vri!ednosne papire] -$a% on 5ecurities Begister '2NNZ(, [4akon o registru vri!ednosnih papira] -$a% on #ankruptc) Procedure 'CLL/(, [4akon o stea!nom postupku] -$a% on $iAuidation Procedure 'CLL/(, [4akon o postupku likvidaci!e] -$a% on <oncessions 'CLLC(, [4akon o koncesi!ama] -$a% and other regulations on legal entities registration in register 'CLLL(* [4akoni i drugi propisi o registraci!i pravne osobe u registar] -$a% on #anking, [4akon o bankama] -$a% on 6nsurance <ompan), [4akon o osigurava!uim drutvima] -$a% on ?icro <redits @rganizations, [4akon o ?ikrokreditnim organizaci!ama] -$a% on Private 6nvestment Gunds, [4akon o privatnim investici!skim fondovima] -$a% on Public 0nterprises* [4akon o !avnim preduze.ima] 6n the Gederation #&, there are the Canton*le&el acts ,=6J@ 1"=7@="U( referring to - improvement of the local business operations, [unapre-en!e lokalnih poslovnih operaci!a] -e;ploitation of natural resources of the local character 'concessions(, [iskoritavan!a prirodnih resursa lokalnog karaktera 'koncesi!e(] -development of tourism and co-operative farming* [razvo! turizma i zadru nog uzgo!a] Law sources in /epu#li%a Srps%a7 ,0=76707516 =6J@U( -$a% on 0nterprises '2NNZ, CLLZ( [4akon o preduze.ima] -$a% on Goreign 6nvestments'CLLC( & registration rules,[4akon o stranim ulagan!ima i pravila registraci!e] -$a% on 5ecurities, <ommission and <entral Begister '2NNZ(, [4akon o vri!ednosnim papirima, 1omisi!a i 5redin!i registar] -$a% on #ankruptc) Procedure 'CLL/(, [4akon o stea!nom postupku] -$a% on $iAuidation Procedure 'CLL/(, [4akon o postupku likvidaci!e] -$a% on <oncessions 'CLLC(, [4akon o koncesi!ama] -$a% and other regulations on registration of enterprises in register 'CLLL(* [4akoni i drugi propisi o registraci!i poduze.a u registar] -$a% on #anking, [4akon o bankama] -$a% on 6nsurance <ompan), [4akon o osigurava!uim drutvima] -$a% on ?icro <redits @rganizations, [4akon o ?ikrokreditnim organizaci!ama] -$a% on Private 6nvestment Gunds, [4akon o privatnim investici!skim fondovima] -$a% on Public 0nterprises* [4akon o !avnim preduze.ima] K7he rules b) the Commissions an( /e$ister o' SecuritiesACentral /e$ister 'rule books, standards, instructions( and the Securities Commission in the G #&, itself has brought /Z acts so far are ver) important source* K7here are rules of the Stoc% Mar%et in Sara9e&o ,SASE- and one in Ban9a Lu%a ,BLSE- and self-organised brokers* 2L 3 P a g e

K7he allo%ed autonom) level of the compan) members indicates that the compan) documents -contract on 'oun(in$ an( statute-are ver) important la% sourcess* [>oputena razina autonomi!e lanova kompani!e pokazu!e da dokumenti kompani!e -u$o&or o osni&an9u i o statutu su vrlo va ni izvori zakona]

EU/OPEAN UNION LAW 'Prava 0uropske uni!e( European Union -7he 0uropean +nion [0+] is an economic and political union of CX member states, located primaril) in 0urope comitted to regional integration* - established formall) b) the 7reat) of ?aastricht on 2 =ovember 2NN/, %ith almost OLL million citizens* -7he 0+ combined generates an estimated /L[ share +5> 2Z*T trillion in CLLZ of the nominal M>P-gross domestic Vorld product* - not a federal state, not confederac), not unitar) stateY this is specific union: custom union, political union, economic union %ithout borders, internal market, la% union\sometimes classified as supranational la% making it one of the most encompassing modern legal s)stems in the %orld* European Law -$a% of the 0uropean +nion is the uniAue legal s)stem %hich operates alongside the la%s of ?ember 5tates of the 0+* -0+ la% has direct effect %ithin the legal s)stems of its ?ember 5tates, and overrides national la% in man) areas, especiall) in areas covered b) the 5ingle ?arket* - 0uropean $a% is prereAuisite for common activities of countr) members end sustain of common pillars and foredooms* -@ne of the features of the 0+ legal s)stem is the multiplicit) of legislative procedures used to enact legislation* -7he treaties micro-manage the 0+ po%ers, indicating different %a)s of adopting legislation for different polic) areas and for different areas %ithin the same polic) areas* C2aracteristics o' EU -5upranational and economic-political communit) -CX member states 8+nited in >iversit): -OLL million citizens -5pecial position on non members of 0+ -5ingle market -C/ official languages -<ommon @fficial Mazette -<ustoms union -?onetar) union 22 3 P a g e

-5chengen +nion -5ui generis legal s)stem and legal order -5overeignit) of the member states -@ther relations\ 1istor" -?a) Nth 2NOL Bobert 5chuman >eclaration proposed the establishment of a 0uropean <oal and 5teel <ommunit) '05<5(* -7reat) of Paris on ?arch COth 2NO2 signed b) Merman), 6tal), Grance, #elgium, $u;embourg and the =etherlands -7he #ig 5i;* -7he aim %as establishment of common market in coal and steel bet%een 7he #ig 5i;* -?arch COth 2NOX 7reat) of Bome 0conomic 0uropean <ommunit) '00<(<onstitution "ct of 0+ 8Vhite #ook of 0+:* -Vider common market covering a %hole range of goods and services and customs duties abolished on Sul) 2st 2NWZ* -7reat) of ?aastricht-7reat) of 0uropean +nion in >ecember 2NN2 created the 0uropean +nion and common market* -@ctober CNth CLLT 7he 7reat) establishing a <onstitution for 0urope commonl) referred to as the 0uropean <onstitution* -"n international treat) intended to create a constitution for the 0uropean +nion* -6t %ould have replaced the e;isting 7reaties of the 0uropean +nion %ith a single te;t if ratified b) all member states* -CLLO Beferendum in 7he =etherland and Grance* ->ecember 2C th CLLX 7reat) of $isabon- so callled Beform 7reat)* -Sune 2/ th CLLZ referendum in 6reland* Enlar$ement 'proiren!e( - 2NX/ >enmark, +nited 1ingdom and 6reland* -2NZ2 Mreece* -2NZW 5pain and Portugal* -2NNO "ustria, Ginland, 5%eden* -CLLT the <zech Bepublic, ,ungar), Poland, 5lovakia, 0stonia, $atvia, $ithuania, 5lovenia, <)prus & ?alta* -CLLX #ulgaria and Bomania* )2ree Pillars o' t2e European Union '7ri stupa 0uropske uni!e( -$ike the 0+ itself, 0+ la% can be divided into three pillars* -Girst of these, the 0uropean <ommunit) pillar, comprises the ma!orit) of la% produced b) the 0+ and is %here the 0uropean <ourt of Sustice has the most po%er* -7he 0+ can also enact legislation under the second and third pillars-relating to foreign polic) and criminal la% respectivel)-although the po%ers of the <ourt of Sustice are much reduced and direct effect does not appl)* 6* 0uropean <ommunit) '0<] 00<Q0+B@"7@?Q0<5<(*

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66* <ommon Goreign and 5ecurit) Polic)* 666* Police and Sudicial <o-operation in <riminal ?atters 'PS<<

Principles o' t2e Sin$le Mar%et '=aela !edinstvenog tr ita( - 4our 'ree(oms are7 Gree movement of goods 'prohibition of custom duties, financial or an) barriers having an eAuivalent effect(* Gree movement of person* Gree movement of capital* Gree movement of services*

)2e Union Institutions -7he 0+ Parliament* [0+ parlament] -7he <ouncil of 0+* [vi!e.e 0+] -7he 0+ <ommission* [0+ komisi!a] -7he <ourt of Sustice* [5ud pravde] -7he 0uropean <ourt of ,uman Bights* [0uropski sud za l!udska prava] -7he <ourt of Girst 6nstance* [Prvostepeni sud] -7he "uditing <ourt* [5ud za revizi!u] )2e European Parliament '0vropski parlament( - 0lection bod) that represents the 0+E s citizens and inhabitants* -6t e;ercises political supervision over the 0+ activities and takes part in the legislative process* -?embers are directl) elected ever) five )ears* -=ot fi;ed seatplenar) sessions in 5trasbourg, additional sessions in #russels, the Meneral 5ecretariat is based in 5trasbourg and #russels* )2e European Council '0vropsko vi!e.e( - <omposed b) representativs at ministrial level* -?eets four times a )ear* -<haired b) a president or prime ministar of a countr) holding the presidenc) of the <ouncil of the 0uropean +nion at the time* -Political bod) %hich reflects the national interests of members states in legislative matters <ouncil of 0urope* )2e European Commission '0vropska komisi!a( - 0;press the <ommunit) interest and promote further integrationclear 2/ 3 P a g e

supranational features* -<omposed of one commissioner from each member states* -6t has TW directorates-general mainl) based in #russels and $u;embourg*

)2e European Commission 2as t2ree 'unctions: -initiates <ommunit) legislation, [6nicira'pokre.e( zakonodavstvo za!ednice] -acts as the guardian of the 7reaties [d!elu!e kao uvar ugovora] -e;ecutive bod) of the <ommunit)* [izvrno ti!elo 4a!ednic] )2e European Court o' ;ustice '0uropski sud pravde( - $ocated in $u;embourg* -?ade up of one !udge of each 0+ countr) assisted b) eight advocates-generals* -6ts role is to ensure that 0+ la% complied %ith, and that the 7reaties are correctl) interpreted and applied* -<ommunit) la% maker through interpretation of the 7raeties and legal acts* -7he 0uropean <ourt of Sustice is an institution of the 0uropean +nion '0+( and should not be confused %ith the 0uropean <ourt of ,uman Bights* -7his <ourt pla)ed a crucial part in the process of integration in 0+, particularl) b) interpreting the treat) basis of the <ommunit), formall) a species of international la%, as internal la% common to the member states*

Court o' 4irst Instance 'Prvostepeni sud( -7he !udicial branch of the 0+ consists of the 0uropean <ourt of Sustice and the <ourt of Girst 6nstance* -7ogether the) interpret and appl) the treaties and the la% of the 0+* -7he <ourt of Girst 6nstance mainl) deals %ith cases taken b) individuals and companies directl) before the 0+ courts, and the 0<S primaril) deals %ith cases taken b) member states* )2e European Court o' 1uman /i$2ts '0uropski sud za l!udska prava( - 7he 0uropean <ourt of ,uman Bights in 5trasbourg is an international !udicial bod) established under the 0uropean <onvention on ,uman Bights of 2NOL to monitor respect of human rights b) states* -7he 0uropean <onvention on ,uman Bights is a convention adopted b) the <ouncil of 0urope* "ll TX member states of the <ouncil of 0urope are parties to the <onvention* -"pplications against <ontracting Parties for human rights violations can be brought before the <ourt b) other states, other parties or individuals !Communit" LawAcBuis Communautaire '5teena prava 4a!ednice( -0uropean la%s are passed b) the 0+ institutions through a number of procedures* -7he 0uropean <ommission has a monopol) on legislative initiative* 2T 3 P a g e

-6n such situation the <ommission sends draft legislation to the <ouncil of the 0+ and 0uropean Parliament for amendments and approval* -7he former bod) is composed of national government ministers and the latter b) directl) elected politicians 7he sources o' EU law are: 2* Primar" le$islation C* Secon(ar" le$islation - 8"cts: brought b) the <ouncil and 7he <ommission 7he primar) legislation are: -7he treaties creating the institutions-constitutive treaties ECSC )reat" CDEC, EEC )reat" CDEF, Sin$le European Act CDGH, )reat" o' European Union CDDI 'Maastric2t )reat"(, )reat" o' Amster(am CDDF* -5ubsidiar) tretaies-conventions* 5econdar) legislation-8"cts: brought b) the <ouncil and 7he <ommission are: -/e$ulations Directi&es /ecommen(ations Opinions Decisions 0eneral principles o' law* /e$ulations 'Propisi( - " regulations are sets out general rules %hich appl) uniforml) throughout the 0+ and binding and directl) applicable in national legal s)stems* -6t takes effect %ithout further enactment automaticall) incorporated into national la%* -6t ma) be relied upon b) individuals before the national courts* -7hese are instruments of unification of la%s*

Directi&e '>irektiva( - " directive ma) be addressed to some or all the memeber states and it is binding as to result to be achieved* -" member state has a discretion as to the means of implementation and in general is not directl) applicable* -6t reAuires implementation to be legall) effective and these are instrument of harmonisation of la%s* Decisions '@dluke( - " decision of the <ouncil or <ommission is an individual act addressed to specified persons, either states or individuals* -6t is legall) binding and it reAuires no further implementation* ->ecision of the 0<S are binding and it is a role of the 0uropean <ourt of Sustice in developing the 0+ legal s)stem*

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/ecommen(ations an( Opinions 'Preporuke i mil!en!a( - 7he) are not legall) binding, altough persuasive* -7he) are not devoid of legal significance* -0+ members countries have a dut) to respect 8messages: of recomandations and opinions* !0eneral Principles o' EU Law 'op.a naela 0+ zakona( 7he) ma) be invoked to interpret 0+ la% and these are independent and important source of la%: -4un(amental ri$2ts Proportionalit" EBualit" Le$al certaint" [sigurnosti] Proce(ural ri$2ts* !Direct E''ect an( Direct Applica#ilit" o' EU Law '6zravni uinak i izravna prim!en!ivost 0+ zakona( -5upremac) of 0< la%-precedence over national la%* ->irect applicabilit)provisions %hich take effect in the legal s)stems of the member states %ithout the need for further enactment* ->irect effectprovisions %hich give rise to rights or obligations on %hich individuals ma) rel) before their national courts* 4un(amental concepts a#out state an( law [temel!ni koncepti dr ave i prava] Le$al 'orm ,elements- [pravna norma - elementi] -defines relations in societ) so that changes in these relations set up boundaries [definira odnose u drutvu, tako da prom!ene u tim odnosima postavl!a!u granice] -is a social norm too that regulate relations in societ) %here is possibilit) of misunderstanding and conflict -is %ritten and regularl) includes sanctions [u pisano! su formi i esto ukl!uu!u i sankci!e] -is consisting of t%o main parts: (isposition and sanction [dispozici!a i sankci!a] -some legal norms have t%o more elements: 2"pot2esis o' (isposition and 2"pot2esis o' sanction [hipoteza dispozici!e F sankci!e] -7here is a formula of a legal form: LNJ,1D-KDK,1S-KS 1"pot2esis o' (isposition is part of the norm that defines the factual situation, or facts that must e;ist in order for disposition, the main part of the norm to be applicable [!e dio norme ko!i definira in!enino stan!e, ili in!enice ko!e mora!u posto!ati za dispozici!u] Disposition is defined rule of conduct 'part of legal norm( and the obligation to perform a given action can consist of acting facere, or non-acting non facere* [definirana pravila ponaan!a 'dio pravne norme( i obveze za izvo-en!e date akci!e mo e se sasto!ati od d!elovan!a ili ne-d!elovan!a]

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1"pot2esis o' sanction consist of the description of the violation of disputation or offence* 6tEs the description of action that represents violations of disposition* [to !e opis akci!e ko!a predstavl!a kren!e dispozici!e*] Sanction is part of legal norm that contain a rule of conduct b) the sub!ect %ho has violated the disposition, and b) a state organ authorized to e;ercise an appropriate measure to%ard the violator* [!e dio pravne norme ko!e sadr i pravilo ponaan!a ko!e sub!ekt ko!i !e prekrio dispozici!u, a dr avni organi su ovlateni da koriste odgovara!u.e m!ere prema prekritel!u] Le$al norms #" su#9ect an( scope o' re$ulation [Pravne norme po predmetu i opsegu regulaci!e] - $eneral an( in(i&i(ual b) number of case that regulate 0eneral norms are those that pertain to an indefinite number of sub!ects of an accuratel) defined kind of relationship [op.e norme] In(i&i(ual le$al norms are those addressed precisel) to the named as the sub!ect of particular relationship [individualne norme] - ci&il*law, criminal*law, a(ministrati&e, constitutional L b) the area of social life the) regulate Ci&il*law regulate civil-la% relations 'actions, propert) \( Criminal*law regulate criminal-la% relations \ - su#stanti&e*law norms and proce(ural*law norms Su#stanti&e*law norms are the norms that regulate relations among people, sub!ect of la%* Proce(ural*law ,or 'ormula- norms regulate conduct of the sub!ects that ought to e;ecute the legal norm, primaril) state authorities 'court**( Le$al norms #" t2e (e$ree o' (isposition speci'ication [Pravne norme po stepenu dispozici!e] Co$ent,strict- le$al norm norm %here the sub!ect is bound to behave strictl) in accordance %ith the norm, and al%a)s under the threat of sanction 'this norms is also called absolutel) specific and categorical legal norms( [uv!erl!ive 'stroge( pravne norme] Alternati&e norms a sub!ect has freedom to chose one of the fe% conduct s provided for the disposition* [alternativne norme] Dispositi&e norms - are those that leave sub!ect full freedom to regulate mutual relations as long as this freedom in %ithin the legal order frame%ork 'this forms are also called alternating F replaceable legal norms* [despozitivne norme] Discretionar" le$al norms leave the sub!ect to e;ecute the norms 'state authorities( the freedom to act in the %a) the) deem the best in an actual case* 7hese are the norms that give discretionar) authorit) to a state organ* [diskreci!ske pravne norme] 4le+i#le le$al norms are issued for situations %here it is not possible to categoricall) set a rule of conduct, due to a series of various actual circumstances* [fleksibilne pravne norme] 2X 3 P a g e

Elements o' t2e s"stem o' law are7 Le$al norm le$al institution #ranc2 o' law an( 'iel( o' law [pravna norma, pravni instituci!a, 8grana: prava i pravno pol!e] Le$al norm is fundamental element of s)stem of la% Le$al institution is harmonized and organized set of legal rules that encompass and regulate a single social relationship 'marriage, o%nership, famil)-la%( 4iel( law is created b) grouping of related #ranc2es o' law - W ma!or fields of la%: * su#stanti&e an( proce(ural pu#lic an( pri&ate national an( international law [materi!alno i proceduralno, !avno i privatno, nacionalno i me-unarodno pravo] 0eneral Le$al (ocuments [op.i pravni dokumenti] -regulate social relation in coherent %a)* -include general legal norms -include: constitution act #"laws $eneral (ocuments o' social or$ani8ations customar" law an( court (ecision %ith capacit) of precedent [ustav, in 'zakon^(, podzakonski akt, op. akti drutvenih organizaci!a, obia!no pravu, te sudske odluke s kapacitetom presedan] Constitution is the highest legal document in a state and the highest fundamental la% in a state* -is legal and political document -%ritten and un%ritten -%ritten constitution implies a set of norms in %riting that regulate state organization -un%ritten constitution is s)stem of constitutional customs that e;ist in a given countr) that regulate basic issues of state organization '+1, 5audi "rabia, 6srael( -structure of constitution: pream#le normati&e part anne+es an( amen(ments -pream#le in introductor) part of a constitution -normati&e part include provision on human and citizen rights and freedoms -anne+es are parts that make separate part due to their specificit) -amen(ment is a %a) of changing a constitution Act is a general legal document of highest legal force follo%ing the constitution B"laws are general legal documents t)picall) passed b) political-e;ecutive and administrative bodies 0eneral (ocuments o' non*state or$ani8ations - include rules of various social organizations based on %hich the) are constituted as organizations and legal persons 'statutes, rulebooks of emplo)ment**( Custom - becomes a source of la% due to long-lasting identical conduct 'ob!ective element( if there e;ists a legal conviction of mandator) nature'sub!ective element( Court rulin$ is an individual legal document, %hich means that it contains an individual legal norm pertaining the actual case* '<ourt rulings %ith capacit) of precedent are also general legal documents(

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In(i&i(ual le$al (ocuments [individualni pravni dokumenti] -mostl) impl) the concretization of a general document* -incomplete individual legal document if contain onl) the disposition or onl) sanction -complete individual legal document if contain both #iding document of state authorit) or organization e;ecuting public authorities, passed in separate administrative procedure is an administrative document $egal transaction in an individual legal document of non-state sub!ect passed b) sub!ect based on the authorization in the legal order and %ithin it, and %hich is binding based on this fact " court document is an individual legal document passed b) specialized court organs in a separate court proceeding -all decisions are procedural Su#9ect an( o#9ect o' law Le$al su#9ects [pravni sub!ekti] -include people and social formations that have legal obligations and legal authorities %ith respect ot legal ob!ect* -is primaril) a human individual 'not al%a)s( -human individual is natural person [fiziko lice] *social formations reorganized a legal sub!ectivit) b) legal s)stem are le$al persons [pravno lice] -child acAuires legal capacit) as soon as it is born Natural person ,su#9ect o' law- [fizika lica] -each person become sub!ect of la% at birth '$5 #&,( -all natural persons are eAual in their rights 'article C of the <onstitution of #&,( -must possess attributes: name, abode and residence, citizenship, 6>\ !4or le$al capacit" 'natural person( is necessar): -to be born alive -should have a human shape !Business capacit" persons %ith 2O )ears have %orking capacit) -Gull capacit) - %ith 2Z )ears '$5 #&,( or if minor marries before, C2 )ear '"nglo"merican( -there is / degree of business capacit): 'ull #usiness capacit", limite( #usiness capacit" and #usiness incapacit" *4ull #usiness capacit" is capacit) of ma!ors, or married minors *Limite( #usiness capacit" can make legal deals '%ith approval of parents( *Business incapacit" cannot make legal deals 'legal representatives make deals on their behalf !O''ence capacit" to be liable for his illegal actions -at age of X -minors %ith 2T )ears have full offence capacit) Le$al persons ,su#9ect o' law- [pravna lica] -is a social formation %ith a legal capacit) recognized b) legal s)stem -is created b) establishment, and ceases %ith deletion from proper registr) %here his status data are kept 2N 3 P a g e

0lements needed for legal person capacit) of organization: 2( that there is a firm and single legal organization C( that such an organization has a goal /( that has independence and it o%n e;istence T( that has its o%n assets -must possess attributes: name, residence or head office, citizenship or membership -have special le$al capacit" as opposed to natural persons -has been founded in order to achieve a defined goal !Business capacit" * at the moment of their establishment !O''ence capacit" - at the moment of their establishment 4un(amental O' Law O' O#li$ations [temel!i obligacionog prava] O#li$ation ma) impl) relationship bet%een at least t%o persons -one persons is authorized to reAuire, other to do or not to do something *in o#9ect sense la% of obligations is a set of legal norms regulating obligation relations [u ob!ektivnom smislu obligaciono pravo !e skup pravnih normi ko!ima se regulira!u obligacioni odnosi] *in t2e su#9ect sense, la% of obligation is given personEs 'creditorEs( authorization or right to reAuire given conduct from another person 'debtor( [u sub!ektivnom smislu, obligaciono pravo da!e osobi 'kreditoru( odobren!e ili pravo da zahti!eva!u 8dato: od druge osobe 'du nika(] Kcreditor kreditor, debtor - du nik O#li$ation action is the conduct b) participants in the obligation relationship reAuired for the obligation to be fulfilled [@bligaciona akci!a - !e ponaan!e od strane sudionika u vezi obveza ko!e potrebno ispuniti] @bligation action can consist of: - 0i&in$ 'dare( - Actin$ 'facere( - Non*actin$ 'non-facere( )"pes o' o#li$ations - @bligations b) kinds of action [@bveze po vrstama d!elovan!a] @bligations according to the %a) of determining the obligation action [@bveze prema nainu utvr-ivan!a obligacionih akci!a]

O#li$ations #" %in(s o' action [@bveze po vrstama d!elovan!a] - strictl" personal - if it is onl) the debtor and no one else that is bound to perform the action non*personal the action can be performed b) someone else for the debtor momentar" given obligation can be performed in short time period permanent if last longer CL 3 P a g e

(i&isi#le obligation can be fulfilled in t%o or more parts in(i&isi#le obligations that need to be full) fulfilled since division %ill decrease it value simple obligation can be fulfilled b) one single action comple+ consist of fe% actions pecuniar" debtor is bound to give creditor mone), a thing or to do or not to do something non*pecuniar" debtor is bound to not give creditor mone)

[strictl) personalFnon-personal strogo lina, ni!e privatna]Y [momentar)Fpermanent momentalnaFtra!na]Y [divisibleFindivisible d!el!ivaFned!el!iva]Y [simpleFcomple; !ednostavnaFslo ena]Y [pecuniar) Fnon-pecuniar) materi!alanaFne materi!alna]

O#li$ations accor(in$ to t2e wa" o' (eterminin$ t2e o#li$ation action [@bveze prema nainu utvr-ivan!a obligacionih akci!a] - special or in(i&i(ual is the one %hen the action the debtor is bound to take is kno%n - $eneric - 'opposed to individual ones( ob!ect of obligation is not clearl) determined - alternati&e %hen obligation include t%o or more actions debtor is bound to take onl) one - 'acultati&e a ob!ect of obligation is clearl) determined action, debtor can be authorized to fulfilled the obligation b) taking another, also clearl) determined action - natural obligations non legall) protected [special or individual - Posebne i po!edinane] [generic - 8rod^:] [alternative 8izbor:] [facultative fakultativne] [natural prirodne] Su#9ect o' o#li$ation*law relations [sub!ekt obligacionih odnosa] -sub!ect in obligation relationship can include legal and natural person -one sub!ect is holder of right 'creditor(, another is holder of obligations 'debtor( Pluralit) of sub!ect obligations an obligation involves fe% creditors and fe% debtors -%hen obligations is divisible creditor is authorized to reAuire onl) its part of the calm, and each debtor o%es onl) its part of a debt and that is DIS)/IBU)ED or COMMON OBLI0A)ION [kada se obaveza mo e podi!eliti

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 kreditor !e ovlaten da tra i samo svo! dio, te svaki du nik vra.a svo! dio] [>657B6#+70>, <@??@= @#$6M"76@= - >istribuirana ili za!ednika obaveza] -in case of pluralit) of sub!ects in a single obligation co-debtors are bound to perform an entire action, %hile all the co-creditors are authorized to reAuire the entire action* 7hese are SOLIDA/Y OBLI0A)IONS [u slua!u pluraliteta sub!ekata u !edno obavezi - sudu nici su du ni obaviti ci!elu 8akci!u:, dok su svi do-kreditori ovlateni da zahti!eva!u ci!ele 8akci!e:] [5@$6>"BH @#$6M"76@=5 - 5olidarne obaveze] <hange of sub!ect in the obligation in a case of strictl) personal relations 'stupe u brak( - cession o' calm - if an obligation e;perience a change on the creditorEs side - ta%in$ o&er a (e#t ,assumption- if the sub!ect is changed on the passive, debtorEs side Cession is transaction %hereb) the previous creditor transfer his claim to his cocontractor, a ne% creditor , %hile both the debtor and debt remain the same* [!e transakci!a gd!e prethodni kreditor prenosi svo!u 8tvrdn!u: n!egovom do-kreditoru t!* novom kreditoru, a du nik i dug osta!u isti] Assumption o' (e#t is name for a transaction %here a debt can be taken over in full, so that the debtor is full) e;empt from the obligations [!e naziv za transakci!u, gd!e se dug mo e preuzeti u ci!elosti, tako da !e du nik u potpunosti oslobo-en obveze] Sources o' o#li$ations [izvori obaveza] -are legal facts and conditions that form the basis of obligations are sources of obligations* [pravne in!enice i uv!eti izvori obligacionog prava] * contracts - is the most freAuent source of obligation include legal transaction in general* [ugovori] -Unilateral ci&il*law transactions are those %herein the obligation as a bilateral legal relation arises b) e;pression of %ill b) one person 'for e;* beaut) contest, the selection of the best architectural design**( [!ednostrani gra-ansko-pravni odnosi] -Causin$ (ama$e or ci&il o''ence - is a source of obligation in the %a) that person caused the damage to another person through an unla%ful action bound to indemnif) the latter for damage, unless he proves that the damage occurred %ith no fault of his* [nanoen!e tete ili civilni prekra!] a( 4ault lia#ilit" - is liabilit) based on sub!ect liabilit)* 7he point is that perpetrator of harmful action %as a%are or had to be a%are that he %ould cause damage to second person b) such action* #&, $5 adopted the s)stem of assumed culpabilit) 'intention( [odgovornosti krivn!e] CC 3 P a g e

b( Strict lia#ilit" is ob!ect liabilit)* 6n this form of liabilit) the culpabilit) of the perpetrator causing the damage is not essential element, and one is liable for the damage b) the ver) fact of damage occurrence 'cars, gas, petrol or construction site\( [ob!ektivne odgovornosti] *Dama$e is decrease in social resources, or someoneEs propert), and prevention of their increase as %ell as causing ph)sical or ps)chological pain or fear to another person [teta] -Un9ust enric2ment or acBuisition wit2out 'oun(ations as a source of obligation creates the obligation to return %hat %as received %ithout foundations* [=epravedno boga.en!e i st!ecan!e bez osnove] -Mmana$ement o' anot2erNs a''airO ,mana$ement wit2out man(ate - if someone takes action in good faith in another personEs interest, and %ithout the letterEs authorization* [8upravl!an!e bez mandata:] Cassation o' o#li$ation [prestanak obaveza] 2( 4ul'illment - implies the proper performance of the action that %as the ob!ect of the debtorEs obligation* [ispun!en!e] C( Impossi#ilit" result in the impossibilit) to fulfill the obligations and the debtor cannot be blamed for it* [nemogu.nost] /( Compensation both have debt to each other* 7he balance shell paid b) part) %hose debt is higher* [kompenzaci!aFnaknada] T( No&ation an agreement bet%een the obligation sub!ects aimed at replacing the e;isting obligation %ith a ne% one* [^^^] O( Con'usion if an obligation, the creditor and debtor consolidate into a single person* [zbun!enost] W( Wai&er o' (e#t the agreement bet%een the creditor and debtor on %aiver of debtorEs obligation* [odrican!e od duga] X( Lapse o' time leads to cassation of the permanent obligation* [odmican!e vremena] Z( Cancellation is one of the %a)s of cessation of permanent obligation relation, based on a unilateral e;pression of %ill b) one obligation sub!ect* [otkazivan!e] N( Deat2 of one obligation sub!ect does not result in the cassation of obligation, rights and obligations pass on successors* [smrt] E''ect o' time on le$al relations [utica! vremena na pravne odnose] -time can affect in t%o %a)s: (estructi&el" and constructi&el" [destruktivno i konstruktivno] Limitation is the loss of claim due to non-fulfillment of content of sub!ective right through a time period defined b) la%* [ogranien!e] -it is a destructive effect of time on legal relations -time period for limitations are provided for b) la%, and sub!ects cannot shorten or prolong it* -some circumstances lead to the end of limitation 'for e;* Gorce ma!eure( [via sila]

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Participation is concept opposite to limitation* Vhen the legal determined time has e;pired, a given factual relations turns into a legal 'legall) protected relation(* [sud!elovan!e] Preclusion ,or preclusi&e time perio(- is time the time %ithin %hich a right has to be e;ercised in order to be preserved [iskl!uen!e]

La#our law [radnika prava] Sources o' La#our law [izvori] - are all the general documents or a legal character that appear as sources of other branches of la% as %ell -cannot be determined for all times and for all legal s)stems -can be classified b) the follo%ing groups: C>- state re$ulations [dr avni propisi] I>- collecti&e a$reements [kolektivni ugovori] P>- $eneral emplo"erQs (ocuments sources o' autonomous law [op.i dokumenti poslodavca - autonomni izvori prava] R>- international sources o' la#our law [me-unarodni izvori prava radnika] E>- customar" law [obica!i] H>- court practice [sudska praksa] Emplo"er is natural or legal person that provides a !ob to the emplo)ee based on a emplo)ment contract [Poslodavac - !e fizika ili pravna osoba ko!a nudi posao da zaposleniku na temel!u ugovora o radu] Emplo"ee - is a natural person %hose emplo)ment is based on a emplo)ment contract [4aposlenik - !e fizika osoba i!i !e radni odnos na temel!u ugovora o radu] Emplo"ment is formation of an emplo)ment contract bet%een an emplo)er and emplo)ee [4apol!avan!e - !e formiran!e ugovora o radu izme-u poslodavca i zaposlenika] 7he essential elements of emplo)ment are: &oluntariness@ personal la#our*law an( 'unctional #on(@ inclusion in t2e wor% process@ an( t2e e+ercise o' ri$2ts an( o#li$ations in t2e wor%place [dobrovol!nostiY osobne, obaveze prema pravu radnika i funkcionalne obavezeY ukl!uivan!e u proces rada, te ostvarivan!e prava i obveza na radnom m!estu] Soluntariness -the principle of voluntariness implies the right to the choice of occupation, and both sub!ects freel) decide upon %hether and %hich sub!ect %ill form an emplo)ment relation Personal la#our*law an( 'unctional #on( CT 3 P a g e

*emplo)ment is a specificall) personal relation -emplo)ee has obligations to perform the !obs and tasks %ith his position 'from start, till end( -cannot transfer his obligations to another person Inclusion in t2e wor% process -should be done in the %a) and under the conditions determined in the document on emplo)ment E+ercise o' ri$2ts an( o#li$ations in t2e wor%place -emplo)ment related rights and obligations determine the position of the parties in the emplo)ment: emplo)er and emplo)ee -emplo)erEs basic right is to determine the place, conditions and %a) of performing the %ork, compl)ing %ith regulations and emplo)eeEs rights -the) shouldnEt be an) discrimination duo to his race, se;, language*** Collecti&e a$reement rules of emplo)ment or emplo)ment contract [1olektivni ugovor] Emplo"ment contract [ugovor o radu] -can be formed for an indefinite and definite time period -can be in %ritten or oral form -includes data '%ritten(: name and office of emplo)er, full name, residence \ -cannot be formed %ith person )ounger than 2O )ears of age person bet%een 2O and 2Z '%ith permission of parents, and %ith certificate from an authorized ph)sician or relevant healthcare institution( -emplo)er is bound to render the emplo)ee capable of %ork in the %a) that ensures the protection of the emplo)eeEs life and health, and prevents the occurrence the accidents "n emplo)ment contract ceases [presta!e] 2( 0mplo)eeEs death C( #) agreement bet%een the emplo)er and emplo)ee /( 0mplo)ee reaches WO )ears of age and CL )ears of emplo)ment insurance T( #) valid decision of the less of %orking capabilit) O( #) emplo)erEs or emplo)eeEs notice W( 0;piration of defined time 'b) contract( X( 0mplo)ee received a prison sentence 'more than / months( Z( 0mplo)ee becomes the sub!ect of a securit) measure N( #) decision of relevant court 'of cassation( Wor% recor( has emplo)ee and it is public document [radniki dosi!e] <ontract for the performing temporar" an( occasionall" 9o#s 'if( - temporar) and occasionall) !obs are determined in collective agreement or in emplo)ment rules - temporar) and occasionall) !obs are not longer than WL da)s during the calendar )ear

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[>0G] Companies Law 'Poslovno pravo( nisam siguran za taan prevodU -<ompanies la% is an independent legal discipline %hich studies the legal regime of companies, both the general legal regime and the legal regime of each individual compan)* [Poslovno pravo !e samostalna pravna disciplina ko!a prouava pravni re im kompani!a, t!* op.i pravni re im 'generalno pravni re im( kao i pravni re im svake po!edinekompani!e*] -7his separate legal discipline is distinguished from the business la%, due to the comple;it) of sub!ect matter being studied, independent sources of la%, as %ell as an increasing degree of specialization and the need for a separate stud) of individual legal institutions* [@va odvo!ena pravna disciplina se razliku!e od poslovnog prava, zbog slo enosti predmeta ko!eg prouava, nezavisnih izvora prava, kao i ve.eg stepen speci!alizaci!e i potrebe za odvo!enim prouavan!em po!edinih pravnih ustanova*] Su#9ect o' Law7 '5ub!ekti prava( natural persons [fizika lica] legal entities [pravna lica] profitable entites companies [profitabilna - kompani!e] corporation [korporaci!e] partnership [partnerstva] non-profitable entities [neprofitabilna] =M@ [nevladina] 0ndo%ment [zadu bina, vakufnina] 5pecial t)pes of legal entities [Posebne vrste pravnih lica]

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 #&,, 0ntities, <antons, municipalities [#i,, entiteti, kantoni, op.ine] Companies are classified into: [1ompani!e se klasificira!u na:] corporation [korporaci!e] -!oint-stock compan) [dioniko drutvo] -limited-liabilit) compan) [drutvo neograniene solidarnosti] partners2ips [partnerstva] -unlimited solidarit) liabilit) compan) or general partnership [drutvo ne ogran* solid* odg*] -limited partnership [komanditno drutvo] '%hich can be an 8ordinar): limited partnership and limited stock partnership, if its subscribed capital is distributed to shares*( Kclassification b) the Act on Companies in the 4 B31* [4akonu o privrednim drutvima u Gederaci!i #i,*] -<lassification of business - traditional one* [poslovan!e i korporaci!e i partnerstva !e tradicionalno] 6n Corporations - o%nership interests or elements* [1orporaci!e - istaknuti vlasnii interesi ili elementi*] -Profit making is the essential goal [Profit !e bitan cil!] -difference partnerships from corporations is in the regime of liabilit) for obligations in legal and business operations* [@snovna razlika izme-u partnerstva iz korporaci!e !e u re imu odgovornosti obveza u pravnim i poslovnim operaci!ama*] -in B5 the name for !oint-stock compan) is _akcionasko drutvo8 -establisher can be: legal andF or natural and foreign persons -the minimum eAuit) needed is defined b) $a% 7he term s2are 'stoc%(: [dionica] -it is part of a compan)Es eAuit), [to !e dio kapitala kompani!e] -a set of rights and obligations related to the membership in a compan) [set prava i obveza vezanih za lanstvo u poduze.u] -a securit), i*e* electronic record that incorporates defined management and propert) rights* [sigurnost, odnosno elektrini zapis ko!i ukl!uu!e definsano upravl!an!e i imovinska prava* S2are- is a long-term investment instrument the economic function of %hich is capital accumulation* [>ionica !e instrument dugorone investici!e ekonomske funkci!e ko!a !e akumulaci!a kapitala*] -establish a membership 'shareholding( relation bet%een a compan) and a permanent investor[>ioniki slu i za uspostavu lanstvo 'dioniki( odnos izme-u tvrtke i stalni investitor] CX 3 P a g e

-%hich includes propert)-right and management relations [ko!i ukl!uu!e imovinu, prava i upravl!an!e odnosima] !9oint*stoc% compan"Ns eAuit) is divided into shares '"rt* 2LX of 4@P>(, -sum of par values of all the compan) shares its eAuit) [zbro! par vri!ed* svih dionica !ednako kapitalu] -Par value of a share cannot be less than 2L,LL 1? '"rt* 2CX of 4P>(* )2e Law on Commercial Companies o' t2e /epu#lic o' Croatia classifies trading companies b): -public trading compan) [!avno trgovako drutvo] -limited partnership [komanditno drutvo,] -secret compan) [ta!no drutvo,] -!oint-stock compan) [dioniko drutvo,] -limited-liabilit) compan) [drutvo s ogranienom odgovorno.u] -business interest association [poslovne interese udruge] Pu#lic enterprises - are a separate form of organization* [!avna preduze.a] -form of business organization in o%nership of %hich is dominated state capital* -capital o%ned b) a state organizational form* -7he organizational and level of state organization depend on communit) level and communit) organization* [@rganizaci!ski i razina dr avne organizaci!e ovise o razini za!ednice i drutvene organizaci!e] Companies in t2e European Union law '1ompani!e u pravu 0uropske uni!e( Vithin the 0uropean +nion communit) la% the follo%ing profitable forms of business organization can be recognized: -European economic interest $roup*EEI0 [0uropska ekonomska interesna grupa] -European compan" or European enterprise ,Societies European- [0uropske kompani!e ili 0uropska poduze.a] =on-profitable forms of organization include: -European cooperati&e societ" [0uropska zadruga] -European insurance compan" [0uropsko osigurava!u.e drutvo] -European association [0uropsko udru en!e] >irectives of the 0+ <ommittee oblige member countries to adopt them in their legal s)stem unreservedl)* [>irektive 0+ obavezu!u odbore zemal!a lanica da ih usvo!e u svo! pravni sistem potpuno] 7he harmonized 0uropean supranational la% e;cludes the implementation the national la% %hich is opposed to this communit) la%* [0uropsko pravo iskl!uu!e prim!enu nacionalnog prava ko!e !e u suprotnosti s ovim zakonom 4a!ednice] -7his sub!ect matter is regulated b) eleven >irectives* -most of them pertain to !oint-stock compan) operations* CZ 3 P a g e

)2e (irecti&es re$ulate 'ollowin$7 -protection of shareholdersE and third partiesE interest [zatita dioniara i interesa tre.ih osoba] -formation and elements of a !oint-stock compan) statute [formiran!e i elementi statuta dionikog drutva] -changes in subscribed capital and merging shares [prom!ena upisanog kapitala i spa!an!a dionica] -content and publishing of business reports [sadr a! i ob!avl!ivan!e izv!eta!a o poslovan!u] -liabilit) of !oint-stock compan) organs [obaveza organa dionikog drutva] -status change of !oint-stock compan) merger [prom!a statusa spo!enog dionikog drutva] -preparation of consolidated balance sheets [sastavl!an!e konsolidiranih bilanci] -auditor appointment [imenovan!e revizora] -mandator) data that have to be published b) branches [obvezni podaci ko!i mora!u biti ob!avl!eni po ograncima] -issues pertaining to operations and establishment of single-member companies [pitan!a ko!a se odnose na osnivan!e i poslovan!e po!edinih kompani!a-lanica] @ther occurrences of the 0uropean compan) %ould be: [@stale po!ave europskih kompani!a biti:] -formation of a holding compan) in the form of limited-liabilit) compan) [formiran!e holdinga u obliku drutva ograniene odgovornosti] -creation of a !oint subsidiar) b) the alread) e;isting limited-liabilit) companies [stvaran!e za!ednike podru nice za ve. posto!e.a drutva ograniene odgovornosti 'dva su u pitan!u(] -conversion of the e;isting companies into a 0uropean <ompan) [pretvaran!e posto!e.ih poduze.a u europske tvrtke] -giving permissions to the e;isting 0uropean <ompaniesE subsidiaries to establish ne% subsidiaries [davan!e dozvole posto!e.o! 8k.er 0vropsko! kompani!i: za uspostavu nove podru nice] European economic interest $roupin$*EEI0- is a form of interest-based association aimed at the mutual association of the alread) e;isting companies* 4oun(ers -natural and legal persons governed b) both private and public la%* -legal persons 'as founders(-registered office on the territor) of a 0+ member countr) -natural persons 'as founders(- involved in a form of industrial, craft, commercial or agricultural activit)* -?emorandum of association is a contract [?emorandum udru en!a !e ugovor] -Begistration confers full business capacit) on the grouping throughout the 0uropean +nion [Begistraci!om sti.e se puna poslovna sposobnost na grupirsan!e irom 0uropske uni!e] -Bule on 006M of 2NZN not determine minimum capital [ne odre-u!e iznos CN 3 P a g e

minimalnog kapitala] -0oal of grouping is not profit makingU [<il! uspostave grupiran!e ni!e profit] -but onl) the membersE cooperation %ithin the agreed fields of their common economic activities* 0roupin$ or$ans are: -membersE assembl) and a manager or managers - depending on the regulation b) the memorandum of association* [u zavisnosti od memoranduma udru en!a] " special case is compan) organization according to special regulations, la%s that have to be considered as le; specialis [Poseban slua! !e organizaci!a poduze.a u skladu s posebnim propisima, zakonima ko!i se mora!u uzeti u obzir 'kao le+ specialis(] -,o%ever, regardless of the le; specialis e;istence, these forms also have to be organized in one of the four or t%o listed forms, respectivel) [?e-utim, bez obzira na posto!an!e le+ specialis, ti oblici mora!u tako-er biti organizirani u !ednom od etiri ili dva navedena oblik] -le; specialis do not recognize organization in the form of partnerships, onl) corporationsU [le; specialis ne prepozna!u mogu.nosti organizaci!e u obliku partnerstva, iskl!uivo korporaci!e] -7his applies to deposit-taking organizationscommercial banks, insurance industr) & investment funds* [@dnosi na ogranizaci!e ko!e uzima!u depozit komerci!alnih banaka, osiguran!a i investici!skih fondova] -$e; specialis prescribed in form of !oint-stock companies and the) are sub!ect to special legal regulations* [ $e; specialis propisu!e obavezan oblik n!ihove organizaci!e u obliku dionikih drutava, te ti oblici organizaci!e podli!e u posebnim zakonskim propisima] -7hese specialized forms %ould include all the forms of organizations sub!ect to one of the le; specialis [7i speci!alni oblici .e ukl!uiti sve oblike organizaci!a ko!e podli!e u !ednom od :speci!alnim zakonu: ] 7hese are: commercial banks [komerci!alne banke] micro-credit organizations [mikro-kreditne organizaci!e] insurance companies [drutva za osiguran!e] investment funds [investici!ski fondovi] stock e;changes [berza] public enterprises [!avna poduze.a] Branc2 o' #usiness societ" [Podru nice poslovnih drutava] -business societ) can have branches outside its seat [produ nica van s!edita firme] -donEt have the capacit) of legal person but that can perform all the activities %ithin the societ) activit) entered in register and thus acAuire rights and obligations in the name and on behalf of the business societ) [poslovne !edinice ko!e nema!u /L 3 P a g e

kapacitet za pravne osobe, ali da mogu obavl!ati sve d!elatnosti u okviru d!elatnosti drutva upisana u registar i na ta! nain st!ecati prava i obveze u ime i na ime poslovan!a drutva] -#ranches are registered %ith the registration court %here the business societ) itself in registered %ith the compan) register [poslovne !edinice su registrirane kod suda gd!e !e registrovano poslovan!e samog drutva u registrirano] - doesnEt have the capacit) of legal person [ova! dio poduze.a nema kapacitete pravnog lica] >epending on the t)pe of activit), follo%ing names can be found: -branch for commercial banks [granu za komerci!alne banke] -plant [postro!en!a] -business unit [poslovne !edinice] -business ob!ect number [bro! poslovnog ob!ekta] -department [od!el] -outlet [ ] K#ranch name can also be determined b) a separate legal document [=aziv poslovnice mo e se odrediti posebnim pravnim dokumentima*] -Gor 0; of this is $a% on #anks, $a% on 6nsurance <ompanies etc* Parent compan" an( su#si(iar" compan" [matine kompani!e i podru nica kompani!e] -4@P> regulates issues of establishment and operations of controlled or dependent companies-subsidiaries in a special %a) [4@P> ure-u!e pitan!a osnivan!a i poslovan!a podru nice na poseban nain] -subsidiar) is defined as a compan) %here another compan) has the ma!orit) of voting sharesU [podru nica !e definirana kao kompani!a u ko!o! druga kompani!i ima ve.inu dionica s pravom glasa] !4orms o' compan" associations in comparati&e le$al s"stems [@blici udru en!a poduze.a u komparativnim pravnim sistemima] Merman legislation thus recognizes follo%ing: [=!emaki zakon tako prepozna!e sl!ede.e:] -konzern [1onzern] -legall) independent enterprises [pravno nezavisnih poduze.a] -subsidiar) and parent companies [d!ete kompani!a i roditel! kompani!a] -!oint-stock enterprises [dioniko drutvo] -enterprises managed based on a separate entrepreneurial contract, %hich can have various forms, from managing boards, lease contracts, contracts on the transfer of profit, etc* [poduze.a upravl!a!u na temel!u posebnog ugovora, ko!i mogu imati razliite oblike, od upravnih odbora, ugovore o zakupu, ugovor o pri!enosu dobiti\] K0nglish la% recognizes -concepts of a holding, or parent compan), and subsidiar) compan) /2 3 P a g e

-conditions are prescribed %hen a compan) is to be considered a subsidiar) or a holding compan) [+v!eti su propisani kada se kompani!a smatra podre-enom kompani!om ili holding-om] -for the holding to be a shareholder in the subsidiar) and to control the composition of its management, for the holding to o%n over OL[ of the subsidiar)Es eAuit), -%hen a subsidiar) is in the same time a subsidiar) of a compan) that is alread) of a third compan)Es subsidiar)the so-called sub-subsidiar) or the subsidiar)Es subsidiar)* KGrench "ct on <ommercial <ompanies [Prema francuskom 4akonu o trgovakim drutvima] -parent compan) e;ists %hen a compan), directl) or indirectl) through other companies, holds part of capital %hich suffices to allo% it the ma!orit) of votes in the assembl), or %hen it has ma!orit) of votes in the subsidiar)Es assembl) based on a separate agreement signed %ith other members or shareholders* [=adre-ena tvrtka posto!i kada poduze.e, izravno ili neizravno preko drugih kompani!a, dr i dio kapitala ko!im bi se omogu.ilo dovol!na ve.ina glasova u 5kuptini, odnosno ako ima ve.inu glasova u podru nici u skuptina na temel!u posebnog ugovora potpisanog s ostalim lanovima ili dioniara] - ,olding is such a form of association among a fe% companies %here the factual control over the controlled companies is achieved b) virtue of o%ning ordinar) shares, as %ell as multiple-vote shares* [,olding !e takav oblik udru ivan!a izme-u nekoliko tvrtki u ko!ima se posti e el!ena kontrola nad poduze.em na temel!u pos!edovan!a redovnih dionica, kao i viestrukog glasan!a dioniara] K7he +*5*"* la% recognizes the legal construct of `trustE -7rust is created b) gaining control over other companies, b) means of gaining control over subsidiariesE shares* [Pov!eren!e se kreira kontrolom nad drugim kompani!a, putem st!ecan!a kontrole nad dionicama podre-ene kompani!e] -control can be achieved b) bu)ing shares or taking them over through status changes of mergers or take over %ithout establishing a ne% compan)* [1ontrola se mo e posti.i kupn!om ili preuziman!em dionica putem statusnih prom!ena 'spa!an!a ili preuziman!a( bez osnivan!u nove kompani!e] -`consortiumE'special form of contractual association of companies( %hich implies association aimed at carr)ing out a given business venture* [Poseban oblik ugovornog udru ivan!a kompani!a !e 8konzorci!9, to implicira udrugu s cil!em obavl!an!a datog poslovnog poduhvata] "ssociation is achieved based on the contractual la%, %ithout forming a ne% legal sub!ect [+druga se ostvaru!e na temel!u ugovornog prava, bez formiran!a novog pravnog sub!ekta] " !oint venture -is a kind of !oint undertaking resulting from the +*5*" business practice -7he +*5*" legal s)stem used to include a ban for companies to form partnerships /C 3 P a g e

[pravni sistem 5"> se koristi izdavan!em zabranama za kompani!e u obliku partnerstva] -6n order to evade this ban, a legal and business construct called !oint venture %as created, %hich is also %idespread in the continental legal regime* -there is also a contractual !oint venture, %hich does not include the formation and registration of a ne% compan) but %hich rather regulates mutual relations on a contractual basis [tu !e i ugovorni !oint venture, ko!i ne ukl!uu!e formiran!e i registraci!u novog poduze.a, ve. ure-u!e me-usobne odnosi na ugovorno! osnovi] 6n the continental la%, consortium is organized in a different %a)s* -most cases, it is organized based on contractual la% norms and, as a rule, it is an unnamed contract of business la% [ve.ini slua!eva, `consortiumE !e organiziran na temel!u ugovornog prava i norme, kao pravilo, to !e neimenovani ugovor u poslovnom pravu] ;oint*stoc% compan" or$ans 'organi dionikog drutva( -0eneral meetin$ [Meneralni sastanak] -Super&isor" #oar( [=adzorni odbor] -Mana$ement ,#oar(- [?enad ment] -Secretar" [5ekretar] -Au(it #oar( [@dbor za revizi!u] C> 0eneral meetin$ [Meneralni sastanak] -it consists of shareholders -chaired b) <hairperson -the chair person and other members of supervisor) board, director, members of the management attend the general meeting -is held at least once a )ear -is asked & set up b) supervisor) board -reAuest for general meeting can b) submitted b): 2* shareholder or group %ith over 2L[ of the total number of voting share C* a member of supervisor) board /* audit board -decisions on general meeting pass %ith more than OL[ of voting shares 7he share holders decides upon: 2* increase or decrease of eAualit) C* issue of ne% shares of the same class /* issue of ne% shares of a ne% class T* financial statement b) auditor, supervisor) board O* distribution of profit and dividend pa)ments W* %a) of covering losses X* merger %ith other enterprises** Z* split and cassation of !oint-stock companies N* changes in !oint-stock compan)Es form 2L*purchase, sale, e;change sets **no more than 2F/ of value of the compan)Es assets 22*sale and purchase of assets 'value 2O[ - //[( of the bookkeeping compan)Es assets // 3 P a g e

2C*appointmant and release members of supervisor) board 2/*appointmentFrelease of an e;ternal auditorF auditor board 2T*establishment, reorganization and liAuidation of subsidiaries and their statues 2O* pa)ments for members of the supervisor) board and audit board 2W* amendments of the statue 2X* e;empting fi;ed assets in non-private companies 2Z* issues essential for operations- pursuant to the la% and statute I> Compan"Ns super&isor" #oar([=adzorni odbor] -consist of chairpersons and no less than t%o members appointed at general meeting Persons cannot be the chairpersons neither members of supervisor) board: -criminals convicted for doing not la%ful economic activities in supervisor) board O )ears from convicting -criminals that have courts prohibition for doing activities in supervisor) board -persons over WO )ears of age on the da) of appointment -candidate for sup*board-proposed b) shareholder %ith no less than O[ of voting shares -director or emplo)ee cannot be member of a sup* board 7he supervisor) board is responsible for: 2* overseeing compan)Es operations C* overseeing managementEs %ork /* adopting business reports T* submitting reports, schedule, plans for business )ear\ O* electing chairperson of the supervisor) board W* proposing distribution and %a)s of usingFcovering profitFloss X* approving sale and purchase of assets 'value 2O[ - //[( of the bookkeeping compan)Es assets Z* appointing chair person of remunerationFappointment committee N* establishing temporar) commissions and defining tasks 2L*convering general meeting 22* approving issues of ne% shares of e;isting class -the supervisor) board chair person and members are liable for damage caused b) failure to perform or improper performance of their duties* #) la%, b) statute of compan) and b) shareholderEs general meetingEs decision the): 2* returned the pa)ment to shareholders C* paid a dividend to shareholders /* paid interest to !oint-stock compan)Es bond holders T* under%rote, acAuired or redeemed shares O* sold the compan)Es assets W* made pa)ments after the !oin-stock compan) has become insolvent X* prolonged the terms of loan repa)ments of the !oin stockcompan) /T 3 P a g e

Z* issued shares based on a conditioned increase of eAuit) P> Compan"Ns mana$ement [?enad ment] <ompan)Es management is in charge of: 2* @rganizing %ork and managing operations, C* Bepresenting the !oin-stock compan) /* 6s liable for the legalit) of operations -it consist of the director and e;ecutive officers -director chairs the management -directorEs position, authorities, responsibilities regulated b) contract -e;ecutive officer organize operations, represents the !oin-stock compan) R> Compan"Ns secretar" [5ekretar] -keeps the shareholders book, the registr) of the minutes of shareholderEs general meeting and supervisor) boardEs meetings -keeps documents defined b) the la% and the compan)Es statute, e;cept financial statements -in charge of preparing sessions and talking minutes of shareholderEs general meeting and the supervisor) board E> Compan"Ns au(it #oar( [@dbor za revizi!u] -chairpersons and members of audit cannot be members of an) boardU -cannot be emplo)ee or person %ith financial interests in !oint-stock compan) -onl) salar) is from !oint-stock compan) -bound to perform an audit of the semiannual and annual statements and an audit financial report reAuested b) shareholder %ith no less than 2L[ of voting share* -submit the report on general meeting 'no more than Z da)s since audit completion( -can call for general meeting 'onl) if the) think that shareholders are !eopardized, or %hen the) detect irregularities in activities b) members of 'supervisor) board, management(

[70@B6S"] Compan"Ns lia#ilit" [@dgovornosti kompani!e] <orporate liabilit) implies a fe% legal and economic aspects* 7he liabilit) implies a fe% forms, both in terms of the kind of compan) and in terms of individual stages of its e;istence* $iabilit) is immanent for the overall compan) operation, starting from its establishment to the cessation of e;istence* 7here are a difference bet%een compan)Es liabilit) and liabilit) of its members, i*e* founders*
/O 3 P a g e

[1orporativna odgovornost podrazumi!eva nekoliko pravnih i ekonomskih aspekta* @dgovornost podrazumi!eva nekoliko oblika, kako u pogledu vrste poduze.a, tako i u pogledu po!edine faze svog posto!an!a* @dgovornost !e kl!una za c!elokupni rad kompani!e, poevi od svog osnivan!a*Posto!e razlike izme-u odgovornost poduze.a i odgovornost n!enih lanova, odnosno osnivaa*] <orporations are sub!ect to a different liabilit) regime compared to partnerships, and in general partnerships there is also a difference in liabilit) bet%een the t%o kinds of its members* 7here is also the mentioned difference %ith respect to the compan)Es liabilit) in different stages of its e;istence* 6n order to establish a compan), the act of registration itself has to be preceded b) taking a number of obligations necessar) for a compan) to be established in the first place* [1orporaci!e su predmet razliitih re ima odgovornosti u odnosu na partnerstva, i op.enito kod partnerstva tu !e i razlika u odgovornosti izme-u dvi!e vrste partnerstva* 7u !e tako-er spomin!e razliku u odnosu na odgovornost poduze.a u razliitim fazama svog posto!an!a* 1ako bi se osnovati kompani!u, sam in registraci!e mora prethoditi uziman!em bro!nih obveza potrebnih za kompani!u kako bi uopte bila osnovana* 7hese can include obtaining loans, acAuisition of reAuired eAuipment, signing contracts, e*g* on leasing business premises, future staff recruitment, etc* 7hese activities necessaril) lead to the need, in actual cases and e;amples, for a person to be authorized as a legitimate representative of a compan) that is still to be registered, i*e* founded* [7o mo e ukl!uivati dobivan!e kredita, nabavku potrebne opreme, potpisivan!e ugovora, npr* o na!mu poslovnog prostora, budu.e zapol!avan!e osobl!a, itd* @ve aktivnosti !e nu no dovesti do 8potrebe:, u stvarnim slua!evima i prim!erima, za osobe ko!i bi trebao biti ovlatena kao legitimni predstavnici kompani!e ko!a !o uvi!ek treba biti registrirana, odnosno osnovana*] 4@P> does not attach the necessar) significance to this issue at all* 6t onl) provides that a compan) acAuires legal personalit) on the da) of its registration in the compan) register, and that no one can act on behalf of the compan) before its registration* [4@P> ne prida!e veliki znaa! za ta! problem uop.e* @n samo navodi da kompani!a st!ee pravnu linost sa danom upisa u registar poduze.a, te da nitko ne mo e d!elovati u ime poduze.a pri!e n!egove registraci!e*] <onseAuent to this solution, 4@P> speciall) provides that a person %ho acts contrar) to this provision is liable for the created obligations %ith his entire propert), and if a fe% persons act together, the) have unlimited solidar) liabilit) for the obligations taken*
/W 3 P a g e

[>osl!edan na ovo r!een!e, 4@P> posebno omoguava da osoba ko!a d!elu!e u suprotnosti sa ovom odredbom - !ami sa svo!om c!elokupnom imovinom, te ako nekoliko osoba d!elu!e za!edno, oni su neogranieno solidarno odgovorni za preuzete obveze*] 6n the section about the memorandum of association, 4@P> sa)s that the memorandum of association shall include a provision about the full names of the persons %ho represents a !oint-stock compan) in the procedure of its establishment* [+ od!el!ku o memorandumu udru ivan!a, 4@P> ka e da memorandum udru ivan!a .e ukl!uivati odredbu o punim imenima osoba ko!e predstavl!a dioniko drutvo u postupku n!egovog osnivan!a*] #) analog), this provision can be applied to the establishment of a limitedliabilit) compan)* Vhen the problem %ill arise if the compan) is not registered or if the obligations taken in this founding stage of the compan) are not fulfilled, in this case, the problem %ould be solved b) appl)ing general rules of la% of obligations pertaining to fulfilling contractual obligations* [Po analogi!i, ova odredba mo e se primi!eniti za osnivan!e drutva s ogranienom odgovorno.u* 1ada .e problem nastati ako kompani!a ni!e registrirana ili ako !e obveze preuzete u fazi osnivan!a kompani!e nisu ispun!eni, u ovom slua!u, problem .e biti ri!een prim!enom op.ih pravila prava o obvezama ko!e se odnose na ispun!en!e ugovornih obveza*] =atural persons shall al%a)s be liable for taken obligations %ith all their propert)* 5ince these are tasks and obligations taken on behalf of a future legal person, it %ould suffice to include onl) the provision that founders are !ointl) liable for the obligations taken* <omparative legal s)stems recognize a special legal form called pre-compan)* [Gizike osobe, uvi!ek .e biti odgovorna za obveze preuzeta sa svom n!ihovom imovinom* #udu.i da su zadaci i obveze poduzete u ime budu.e pravne osobe, bilo bi dovol!no da sadr e samo odredbbu ko!om su osnivai za!edno odgovorni za poduzete obveze* 1omparativni pravni sistem prepoznatl!iv kao posebni pravni oblik nazvan pred-kompani!a*] 0*g* "ct on <ommercial <ompanies of the Bepublic of <roatia, Grench la%, Merman la%, and "ustrian la%* 7here are numerous and different legal understandings of the t)pe of legal construct this is* 7hus, some sa) that it is a civic partnership, pre-contract or compan) in the process of establishment, kind of legal fiction or else a contract being signed in favor of a third part)* 7he) differ onl) in %hich legal instrument defines the status of pre-compan)* "s opposed to these, 0nglish la% kno%s of the founderEs fiduciar) obligation to the compan) that is onl) to be registered* [84akon o trgovakim drutvima: Bep* ,rvatske, francuski zakonu, n!emaki zakon, austri!ski zakon*
/X 3 P a g e

Posto!e bro!na i razliita pravna razumi!evan!a ovakve vrste pravne konstrukci!e* @vako, neki ka u da !e to gra-ansko partnerstvo, predugovor ili firme u procesu osnivan!a, vrsta pravnih fikci!a ili ugovor potpisan u korist tre.e osobe* @ni se razliku!u samo u tome ko!i pravni instrument definira status pred-poduze.a* 4a razliku od n!ih, engleski zakon zna za osnivaevu obavezu za kompani!u ko!a samo to ni!e registrovana*] 7he +*5*"* la% speaks of the personal liabilit) b) future compan) members if a contract %ith a third part) is signed before the compan) is registered* 6t is a special legal construct, or a sort of legal fiction %hich feigns the e;istence of a compan) of civic character, created in the moment of closing a legal transaction that represents a legal basis for registering a compan)* " compan) that e;ists from closing the legal transaction %hich is the basis of the compan) until its registration in the court register* " pre-compan) is created ceases to e;ist b) signing the contract on founding a compan), i*e* b) passing a memorandum of association in case of a single-member compan)* [4akon 5">-a govori o lino! odgovornosti prema budu.im lanova drutva, ako !e ugovor potpisan sa licima tre.e strane pri!e nego !e kompani!a registrirana* 7o !e poseban pravni konstrukt, odnosno vrsta pravnih fikci!a ko!a predstavl!a posto!an!e kompani!e gra-anskog karaktera, nastale u trenutku zatvaran!a pravnog posla ko!i predstavl!a pravnu osnovu za upis poduze.a* 1ompani!a ko!a posto!i od zatvaran!a pravnog posla ko!i !e osnova za kompani!u do n!enog upisa u sudski registar* Pred-kompani!a presta!e posto!ati potpisivan!em ugovora o osnivan!u kompani!e, odnosno prolaskom memoranduma udru ivan!a u slua!u !edno-lane kompani!e*] 7he memorandum of association should regulate mutual relations among founders themselves, regardless of the concept adopted in this form of liabilit)* "ll companies, regardless of their t)pe, are liable %ith the compan)Es entire propert)* [?emorandum o pridru ivan!u treba regulirati me-usobne odnose osnivaa me-u sobom, bez obzira na koncept usvo!en u ovom obliku odgovornosti* 5ve kompani!e, bez obzira na n!ihovu vrstu, su odgovorne sa ci!elom imovinom kompani!e*] Gounders of !oint-stock companies and founders of limited-liabilit) companies are liable up to the value of their shares, i*e* stakes* 7his also applies to members that have subseAuentl) !oined the compan)* ^ [@snivai dionikih drutava i osnivai kompani!a sa ogranienom odgovorno.u su odgovorni do vri!ednosti svo!ih dionica, odnosno ud!ela* @vo se tako-er odnosi na lanove ko!i su se naknadno pridru ili kompani!i*] $iabilit) applies to all t)pes of obligations regardless of their origin and basis* <orporate liabilit) should be distinguished from the alread) described risk of a compan) founder*
/Z 3 P a g e

[@dgovornost se odnosi na sve vrste obveza bez obzira na n!ihovo pori!eklo i temel!*1orporativnu odgovornost treba razlikovati od ve. opisanih rizika osnivaa kompani!e*] "lthough compan) o%ners are liable onl) up to the value of their investment, their stake in the overall book value of the compan)Es assets %ill also be affected* [6ako su vlasnici kompani!a odgovorni samo do vri!ednosti svo!ih ulagan!a, n!ihov udio u ukupno! kn!igovodstveno! vri!ednosti imovine poduze.a tako-er .e biti pogo-en*]

KAsset is a comple; categor) and deserves a special attention* 7his statement applies to the entire assets*[imovina] 6t includes both tan$i#le assets and: [materi!alna imovina] premises, eAuipments, furniture, computer gears\ [prostor, oprema, nam!eta!, pc oprema**] goods in producing and %arehouses [robe u proizvodn!i i skladitima] monetar) resources [novana sredstva] due unpaid receivables [nepla.ena potra ivan!a] notes receivable [bil!eke potra ivan!a] shares in other companies* [ud!ele u drugim kompani!ama] Gurther, assets also include: [intan$i#le ne materi!alna] intellectual propert) rights [prava intelektualnog vlasnitva] cop)rights [autorska prava] industrial propert) rights [prava industri!skoga vlasnitva] Ginall), it also includes the so-called intan$i#le assets or $oo(will, %hich mostl) e;presses a compan)Es market position* 1onano, to tako-er ukl!uu!e i tzv 8nemateri!alnu imovinu: ili 8good%ill: dobar glasY ko!i uglavnom izra ava pozici!u kompani!e na tr itu* -Partnerships are liable for their obligations %ith the entire compan)Es propert), and members of such companies are also liable %ith their entire propert), not invested in the compan)* 7his form of liabilit) is also called the unlimite( soli(ar" lia#ilit"* 6n this form of liabilit), all the members of the unlimited solidar) liabilit) compan), i*e* partnership, are eAual* [Partnerstva su odgovorni za svo!e obveze ci!elom imovine poduze.a, te lanovi takvih kompani!a su odgovorni i sa svo!im c!elokupnom imovinom ko!a ni!e ula ena u poduze.e* @va! oblik odgovornosti se tako-er naziva neograniena solidarna odgovornost* + ovom obliku odgovornosti, svi lanovi drutva neograniene solidarne odgovornosti, odnosno partnerstva su !ednaki*]
/N 3 P a g e

7here is some difference in case of limited partnerships, since its members have different positions in the compan)* 7hus general partners 'MPs( are liable for compan)Es obligations same as members of general partnership, i*e* %ith unlimited solidarit)* $imited partners are liable onl) up to the value of their stake* [Posto!e neka razlike u slua!u ogranienog partnerstva, budu.i da lanovi kompani!e ima!u razliite pozici!e u kompani!i* @vako 8op.enito: partneri 'MPs( su odgovorni za obveze kompani!e isto kao i lanovi op.eg partnerstvo, t!* s neogranienom solidarnou* 8@granieni 'limited(: partneri su odgovorni samo do vri!ednosti n!ihovih ud!ela*] 7his strict regime of liabilit) has its rationale in the fact that personal elements prevail in this t)pe of compan), %hich is the main reason for such a form of liabilit)* [@va! strogi re im odgovornosti ima svo!e razloge u in!enici da linielementi prevladava!u u ovo! vrsti kompani!e, ko!i !e glavni razlog za ovakav oblik odgovornosti*] Vh) are limited partners e;empt from this liabilit)^ 7he reason lies in the fact that the) are secret partners, and are not registered in the court register not appear in public or in business relations* [4ato su ogranieni partneri izuzeti od ove odgovornosti^ Bazlog le i u in!enici da su oni ta!ni partneri, a nisu upisani u sudski registar, ne po!avl!u!u se u !avnosti ili u poslovnim odnosima*] Begardless of the legal possibilit) for them to be entrusted %ith the representation function, upon the approval b) all general partners, the) still do not e;ist for the legislator in the formal sense* [#ez obzira na zakonsku mogu.nost za n!ih da pov!ere funkci!u zastupan!a nekom drugom, nakon odobren!a od strane svih generalnih partnera, oni !o uvi!ek ne posto!e u zakonodavnom i formalnom smislu*] 7he basic form of liabilit) is liabilit) for oneEs o%n obligations* 7his is an imperative o%n liabilit), %hich is also called the full liabilit)* 6n practice, the compan)Es name freAuentl) includes the designation `full-liabilit) compan)E* [@snovni oblik odgovornosti !e odgovornost za vlastite obveze* 7o !e imperativ vlastite odgovornosti, ko!a se tako-er zove 8punu odgovornost:* + praksi, naziv kompani!e esto ukl!uu!e oznaku apuna odgovornosta*] 0ven %ithout this designation, this goes %ithout sa)ing, since this is an imperative norm* 7his kind of liabilit) covers the entire propert) e;cept for the assets %hich are e;empt from e;ecution pursuant to the rules of e;ecutor) proceedings* [Rak i bez te oznake, to ide bez izgovaran!a, !er !e to imperativ norma* @va vrsta odgovornosti pokriva c!elokupnu imovinu, osim imovine ko!a su izuzeta od izvren!a u skladu s pravilima postupka izuziman!a*]
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<ompan)Es independent liabilit) for its o%n obligations can be 8reinforced: so that it is also liable for other legal sub!ectsE obligations* Vhat %ould the concept of other legal sub!ects include^ 6n the first place, these %ould be the so-called affiliated persons, or other companies that have the capacit) of subsidiar)* [=eovisna odgovornost drutva za svo!e vlastite obveze mo e biti 9o!aana9, tako da !e i odgovorna za drugieobaveze pravnih sub!ekata* bto bi koncept drugih pravnih sub!ekata ukl!uili^ + prvom redu, ove tzv povezane osobe, ili druge kompani!e ko!e ima!u kapacitet podru nice*] 6t is the liabilit) of the so-called parent compan), or the compan) %ith ma!orit) shares in a !oint-stock compan), or the ma!orit) shareFcontributionFstake in a limited-liabilit) compan)* 6n case of carr)ing out the bankruptc) proceedings over a subsidiar), if creditors are not settled, the parent compan) is liable for the remaining obligations* [7o !e odgovornost nadre-ene kompani!e, odnosno kompani!e sa ve.inskih ud!elom 'dionica( u dionikom drutvu, odnosno ve.inskog ud!ela F doprinosa F ud!ela u drutvu ograniene odgovornosti* + slua!u provedbe stea!nog postupka preko podru nice, ako kreditori ne ri!ee, nadre-ena kompani!a !e odgovorna za preostale obveze*] 7here is no feedback in case of bankruptc) proceedings over the parent compan)* ,o% is the parent compan) liable^ 6t is liable %ith unlimited solidarit), i*e* %ith the entire compan) assets* 7he pre-reAuisite for such a strict form of liabilit) is the case %hen the bankruptc) resulted from carr)ing out the obliging %ritten instructions b) the parent compan)* [=ema povratka u slua!u stea!nog postupka kod nadre-ene kompani!e* 1ako !e nadre-ena tvrtka odgovorna^ @dgovorna !e sa neogranienom solidarnou, t!* sa ci!elom imovinom kompani!e* Preduv!et za takav strogi oblik odgovornosti !e slua! kada !e stea! posl!edica obavl!an!a pismenih uputa od nadre-ene kompani!e*] #esides this kind of liabilit), the parent compan) is liable, in the bankruptc) proceedings, %ith unlimited solidarit) for other obligations taken in legal and business transactions as %ell* [@sim ove vrste odgovornosti, matina kompani!a !e odgovorna, u stea!nom postupku, s neogranienom solidarnosti za ostale obveze poduzete, pravne i poslovne transakci!etako-er*] 5econdar) liabilit) also e;ists in case of introducing status changes* 7his liabilit), regardless of the kind of status change, arises b) virtue of legal succession or universal succession* 7his form of liabilit) includes onl) the obligations incurred up to the moment of status change* [5ekundarna odgovornost posto!i u slua!u uvo-en!a prom!ene statusa* @va odgovornost, bez obzira na vrstu statusne prom!ene, nasta!e na temel!u
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pravne sukcesi!e ili univerzalne sukcesi!e* @va! oblik odgovornosti ukl!uu!e samo obveze nastale do trenutka statusne prom!ene*] 7his liabilit) is solidarit) and unlimited, and represents the form of liabilit) defined b) la%, so that a contractual provision that %ould e;clude it %ould be absolutel) void* [@va odgovornost !e solidarna i neograniena, te predstavl!a oblike odgovornosti definirane zakonom, tako da ugovorna odredba ko!a bi to iskl!uila, bila bi apsolutno neva e.a*] 4@P> introduced a novelt) in the area of status changes* "ctuall), the decision on merger, affiliation, separation or change of form of a compan) is made based on the reorganization plan prepared b) the management and supervisor) board or another organ of each participant if authorized as such b) memorandum of association* [4@P> predstavio novitet u podru!u statusnih prom!ena* 4apravo, odluka o spa!an!u, pripa!an!u, razdva!an!u ili prom!eni oblika kompani!e !e napravl!en na temel!u plana reorganizaci!e pripreml!enog od strane upravnog i nadzornog odbora ili drugih organa, ako su ovlateni kao takva od strane memoranduma udru ivan!a] 5econdar) liabilit) can also arise from the change in compan) form* 6t is a distinctive transformation of a compan) from one to another organizational form* 7he most freAuent form of this transformation is encountered in transformation of !oint-stock companies into limited-liabilit) ones* [5ekundarna odgovornost mo e nastati iz prom!ena oblika kompani!e* 7o !e karakteristina transformaci!a poduze.a iz !ednog u drugi organizaci!ski oblik* =a!e.i oblik ove transformaci!e !e transformaci!a dionikih drutava ograniene odgovornosti*] " separate form of liabilit) is the compan)Es liabilit) for damage caused b) its emplo)ees and organs of the compan) itself* @rgans, its members and emplo)ees themselves %ork on behalf and on the account of the compan) itself* [Poseban oblik odgovornosti !e odgovornost za tetu uzrokovanu kompani!i od strane svo!ih zaposlenika i organa same kompani!e* @rgani, n!egovi lanovi i sami zaposlenici rade u ime i na raun same kompani!e*] 7he compan) is al%a)s liable for damages incurred to third parties based on their unla%ful decisions of compan) bodies* 7he compan) is al%a)s liable for damages incurred to third parties based on their emplo)eesE unprofessional or unla%ful %ork* [1ompani!a !e uvi!ek odgovorna za tete nastale tre.im osobama na temel!u n!ihovih nezakonitih odluka ti!ela kompani!e* 1ompani!a !e uvi!ek odgovorna
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za tete nastale tre.im osobama na temel!u n!enih 8nestrunih: zaposlenika ili nezakonitog rada*] Gounders are liable for the compan) obligations in the alread) described %a)* $iabilit) of corporation founders is different from that of partnership founders* 6n case of corporationsE liabilit), regardless of the fact that founders are liable onl) up to the value of their stakes, the) also bear the entire risk in that the overall compan) assets %ill be the sub!ect of general e;ecution* [@snivai su odgovorni za obveze kompani!e na ve. opisani nain* @dgovornost osnivaa 8korporaci!e: !e razliit od osnivaa 8partnerstva:* + slua!u odgovornosti korporaci!e, bez obzira na in!enicu da su osnivai odgovorni samo do vri!ednosti n!ihovih uloga, one tako-er nose ci!eli rizik na ukupnu imovinu kompani!e ko!a .e bit predmetom op.eg izvren!a'izuziman!e stea! npr i sl*] Piercin$ t2e corporate &eil [podizati korporativni veo^] Piercing, or lifting the corporate veil, as a separate legal institution has found its place in all the comparative legal s)stems* 7here is no difference bet%een "nglo-5a;on and 0uropean continental legal circles %ith respect to defining the basic postulates of this legal institution* 6ndeed, it dra%s its origin from the "nglo-5a;on legal circle* [Piercing ili podizan!e korporativnog veo, kao zasebna pravna instituci!a !e naao svo!e m!esto u svim komparativnim pravnim sistemima* =ema razlike izme-u anglosaksonskog i europskog kontinentalnog pravnog kruga s obzirom na definiran!e osnovne postavke ove zakonske ustanove* >oista, on vu.e svo!e pori!eklo iz anglosaksonskog pravnog kruga*] 7his legal institution has found its place in all the legal regimes that regulate the concept of companies in the traditional %a)* @%ing to its postulates, the need to distinguish corporate from personal propert) of natural persons as compan) founders is emphasized* 6ts postulates are also directed to levelling the difference that arises in case of liabilit) for fulfilling corporate obligation* [@va pravna instituci!a !e naao svo!e m!esto u svim pravnim re imima ko!i regulira!u koncepte kompani!a na tradicionalan nain* 4ahval!u!u.i postulatu naglasio !e potrebu razlikovan!a korporativne od line imovine fizikih osoba kao osnivaa kompani!e* =!egovi postulati su tako-er usm!ereni na izravnavan!e razlika ko!e nasta!u u slua!u odgovornosti za ispun!en!e obveza poduze.a*] $iabilit) is one of basic features of companies and, %hen deciding for the compan) t)pe, business people mostl) opt for corporations* 7he motive can be found in the fact that the liabilit) regime is far more favorable* 7he) are liable onl) up to the value of their stakes, i*e* shares* "ssets of this t)pe of
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companies have to be considered as separate from the foundersE personal propert)* [@dgovornost !e !edna od osnovnih znaa!ki poduze.a i, kada se odluu!e za vrstu poduze.a, poslovni l!udi se uglavnom odluu!u za korporaci!e* ?otiv se mo e na.i u in!enici da !e re im odgovornosti daleko povol!ni!i* @ni su odgovorni samo do vri!ednosti n!ihovih ud!ela, odnosno dionica* 6movina ove vrste poduze.a mora biti uzeta u obzir kao odvo!ena od line imovine osnivaa*] ,o%ever, %hen the compan) is used for achieving unla%ful goals, the legal institution of piercing the corporate veil is activated* 6n this case, advantages of corporation o%ners cease and the terrain of unlimited solidar) liabilit) is entered* 7he) are liable same as partnership o%ners* [?e-utim, kada se koristi kompani!a za postizan!e nezakonitih cil!eva, pravna instituci!a 8podizan!a korporativnog Jeo-a: !e aktivirana* + ovom slua!u, prednosti korporaci!a i vlasnika presta!u, te ulazi na teren drutva neograniene solidarne odgovornosti* @ni su odgovorni isto kao i vlasnici partnerstva*] 7his issue is generall) resolved in t%o %a)s* 7he first case implies use of general clause method, or the numerus clausus method or enumeration method* 5ome countries do not deal %ith this legal institution at all but rather leave its resolution to !udicial practice* 7he compan), as a sub!ect of la%, is separated from legal sub!ectivit) of its members* [7a! se problem obino r!eava na dva naina* Prvi slua! podrazumi!eva koriten!e metoda op.e klauzule, odnosno ukupan blokovi metodom ili metodom popisivan!a* =eke zeml!e se ne bave ovom pravnom instituci!om nego ostave r!een!e za sudske prakse* 1ompani!a, kao sub!ekt prava, !e odvo!ena od pravnih sub!ektiviteta svo!ih lanova*] 7he fact that liabilit) is separated does not necessaril) mean that activities are allo%ed aimed at concealing the true intentions of compan) o%ners, or getting around legal documents and, particularl), taking actions characterized as an offence* [Rin!enica da !e odgovornost odvo!ena ne znai nu no da su dozvol!ene aktivnosti usm!erene na prikrivan!e istinske nam!ere vlasnika poduze.a, ili uzima!u.i okolo pravnih dokumenata i, posebno, reagovan!e karakterizira kao kazneno d!elo] Vith respect to legal frame%ork, 4@P> has regulated this issue b) means of numerus clausus principle* " single article of 4@P> regulates the liabilit) of corporation members and partnership members* 6t provides that each member of general partnership and the general partner in limited partnership is liable for compan) obligations %ith unlimited solidarit), %ith his entire propert)*
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[5 obzirom na pravni okvir, 4@P> !e regulirano ovo pitan!e putem bro!nih blokova principa* Sednom lanku o 4@P> regulira odgovornost korporaci!e lanova i lanova partnerstva* @na omogu.u!e da svaki lan op.eg partnerstva i generalni partner u komanditnom drutvu !e odgovoran za obveze poduze.a s neogranienom solidarnosti sa svo!om ci!elom imovinom*] " shareholder in !oint-stock compan), o%ner of share in a limited-liabilit) compan), and limited partner are not liable e;cept %hen: -the) use the compan) to achieve their personal goal %hich is incompatible %ith the goals of other members and compan) as a %holeY -manage compan) assets as their o%n propert)Y -use the compan) for cheating or harming their creditorsY - affect the decrease in compan)Es assets in their o%n favour, or third partiesE favour, or make the compan) take obligations although the) kno% or must have kno%n that the compan) is not or %ill not be capable of fulfilling them* [>ioniar u dionikom drutvu, vlasnik dionica u drutvu ograniene odgovornosti, a ogranieni partner ne snosi odgovornost, osim ako: -oni koriste kompani!e da postignu n!ihove osobne cil! ko!i !e nespo!iv s cil!evima drugih lanova i drutvo u c!eliniY -upravl!an!e imovinom kompani!e kao da !e n!egovaY -koristi kompani!u za varan!e ili teti n!enim kreditorimaY -ut!ecati na sman!en!e imovine poduze.a u vlastitu korist, ili korist tre.ih strana, ili da se obve e poduze.e, iako su znali ili morao znati da drutvo ni!e ili ne.e biti u stan!u da ih ispun!ava*] 5olutions used in 4@P> can be considered as modern solutions* 5pecial forms of abuse can occur in cases determined b) separate legal documents* 7he) primaril) include provisions of bankruptc) and liAuidation legislation, particularl) sections pertaining to piercing actions, or actions taken before opening of bankruptc) proceedings %ithout remuneration or %ith slight remuneration* [B!een!a ko!a se koriste u 4@P> se mogu smatrati kao moderna r!een!a* Posebni oblici zlostavl!an!a se mogu po!aviti u slua!evima odre-enim se posebnim pravnim dokumentima* @ni pona!pri!e ukl!uu!u odredbe stea!a i likvidaci!e pravosu-a, osobito di!elova ko!i se odnose na 8piercing: akci!e ili radn!e poduzete pri!e otvaran!a stea!nog postupka bez naknade ili uz male naknade*] Ban on competin$ wit2 a compan" competition clause ?embership in a compan) implies that in the course of such a relation given business and similar activities are banned as such, or are sub!ect to a given kind of approval, in terms of the obligation to provide information to an appropriate organ in a compan) on such an activit)*
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[Rlanstvo u poduze.e podrazumi!eva da ti!ekom takvog odnosa dati poslovi i sline aktivnosti su zabran!ene kao takve, ili su predmet za izdavan!e neke vrste odobren!a, u smislu obveze pru iti informaci!e kako bi odgovara!u.i organ u kompani!i bio upoznat sa takvim aktivnostima*] 7he ver) ban on competition implies that natural persons %ith a given status in a compan) cannot perform given activities that %ould be incompatible %ith the e;istence of such a position* [4abran!ena na konkurenci!u podrazumi!eva da fizika osoba s obzirom na status u kompani!i ne mo e obavl!ati zadane d!elatnost takvog polo a!a] $a% has defined the circle of people %ho, due to their position, are sub!ect to the rules of legal institution of competition la%* 4@P> provides that these are the follo%ing persons: member of an unlimited partnership, general partner in limited partnership* a stakeholder in a limited-liabilit) compan), a member of board in a limited-liabilit) compan), a member of supervisor) board of a !oint-stock compan), a member of board in a !oint-stock compan) procurators* [4akon !e definirao krug l!udi ko!i, zbog svog polo a!a, podli!e u pravilima pravne instituci!e zakona o tr inom nat!ecan!u* 4@P> propisu!e da su sl!ede.e osobe: lan neogranien partnerstva, general partner u komanditnom drutvu* dioniar u drutvu ograniene odgovornosti, lan odbora-u u drutvu ograniene odgovornosti, lan nadzornog odbora u dionikom drutvu, lan odbora u dionikom drutvu zam!enici*] 7hese persons are sub!ect to the ban that the) cannot participate in an activit) %hich is, or could be in a competitive relation to the activit) of the compan) %here the) perform one of the entrusted tasks* [@ve osobe su predmet zabrane da ne mogu sud!elovati u d!elatnosti ko!a !e, ili bi mogla biti u konkurentnom odnosu sa d!elatnou kompani!e gd!e izvode !edan od pov!erenih poslova] 7he enumerated functions e;clude the possibilit) that the) are performed b) a person %ho has: the capacit) of emplo)ee in another compan) %ho performs the same or similar activit) or the capacit) of an independent entrepreneur* [=abro!ane funkci!e iskl!uu!e mogu.nost da ih izvodi osoba ko!a ima:

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sposobnost zaposlenika u neko! drugo! kompani!i ko!a obavl!a iste ili sline aktivnosti ili kapacitet neovisnih poduzetnika*] 7his ban should appl) either to an emplo)ee in another compan) or to a person %ho has the capacit) of independent entrepreneur, provided that the activit) of this compan) or enterprise is of the same or kindred nature compared to the former compan)Es activit)* [@va zabrana bi se trebala prim!en!ivati na zaposlenike u drugo! kompani!i ili osobe ko!e ima!u kapacitet neovisnih poduzetnika, pod uv!etom da d!elatnost ove tvrtke ili poduze.a !e iste ili srodne prirode u odnosu na bive d!elatnosti tvrtke*] 4@P> starts from the fact that the ban on competition e;ists in t%o situations, as follo%s: the activit) is alread) competitive or the activit) ma) be competitive* [4@P> polazi od in!enice da zabrana konkurenci!e posto!i u dvi!e situaci!e, kao to: d!elatnost !e ve. konkurentna ili aktivnosti mo e biti konkurentna*] 7he duration of ban pertains to the entire time period of performing some of the enumerated functions, or the e;istence of some of the capacities, although the ban can also be prescribed for a longer duration* 6n order to allo% the referral to this longer duration, it should be defined b) the compan)Es articles of association or statute* [7ra!an!e zabrana odnosi na ci!elo razdobl!e za obavl!an!e neke od nabro!enih funkci!a, odnosno posto!an!e nekih od kapaciteta, iako !e zabrana tako-er mo e biti propisana za du e tra!an!e* 1ako bi se dopustili upu.ivan!e na ovo du e tra!an!e,to treba biti definirano od strane ustava^ 1ompani!e ili statuta] 7his duration can be no longer than t%o )ears after the cessation of a given capacit)* 7his norm is of imperative nature, so that the duration can be determined for a shorter, but not a longer time period* >efining a period longer than t%o )ears %ould have no legal effect* [7o tra!an!e ne mo e biti du e od dvi!e godine nakon prestanka datog kapaciteta* @va norma !e imperativne prirode, tako da se tra!an!e mo e utvrditi za kra.e, ali ne dul!e vremensko razdobl!e* >efiniran!e razdobl!e du e od dvi!e godine ne bi imala pravni uinak*] Compan" Status C2an$e [Prom!ena statusa kompani!e] -5tatus changes are the manifestations of various transformations in the course of a compan)Es operations*
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-<ompan) can ME/0E [spo!iti]: -#" 'ormation o' a new compan" [formiran!em nove kompani!e] -#" a#sorption [apsorpci!omFspa!an!em] -#" (i&i(e [odva!an!emFdi!el!en!em] -reasons 'for changing status( can include the need to do business based on different principles* #) this reason !oint-stock companies [d*d*] are transformed into limited-liabilit) companies [d*o*o*] -status changes is result b) decisions of compan) o%ners* -status change al%a)s lead to the cessation [prestanakFgaen!e] one of the companies -compan) 8e;it: is based on: free %ill of o%ner or b) force of la% #) the $o< 'la% on companies( status changes are mergers b) forming a ne% compan), b) absorption and divisions* ME/0E/ #" 'ormation o' a new compan" [spa!an!e formiran!em novog poduze.a] -includes the association of t%o or more companies of the same or different organization forms into a single ne% compan), of course %ithout conducting the liAuidation procedure* ->ecision on this status change is made at shareholders general meeting 'corporations(, or b) all compan) members 'partnerships(* ->ecision is made b) all companies that 8merge:, other%ise not possible* -0ver) form of status change must be register %ith the court register of companies* -6n case of merger bet%een an open 9oint*stoc% compan" and anot2er compan" result has to be a new open 9oint*stoc% compan" -Gorming a ne% compan) b) merge corporation & partnership companies in NO) POSSIBLEU 'b) $o<( -Vith change of compan)Es form, reorganization plan has to be madeU /eor$ani8ation plan is dra% b) management and supervisor) board , or b) other organ in compan) defined b) <ompan)Es memorandum of association or statue* -7he legislator [zakonodavac] also prescribes the mandator) elements of reorganization plan* )2e reor$ani8ation plan inclu(es: a( >ata on participating companies 'forms, names and registered offices of participating companies and transferor companies( [Podaci o kompani!ama sudionicama] b( @%nership rights of shareholders or transfer companies in ne% compan) 'prava vlasnitva dioniara u novo! kompani!i( c( >escription, valuation and distribution of companies assets and liabilities that are transferred to the ne% compan), %ith auditorEs report [@pis, vrednovan!e i distribuci!a imovine kompani!e i obveza ko!e su prenesene na novu kompani!u, s izv!eta!em revizora]
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d( >ata from %hich the shareholders of the transferee compan) %ill be

entitled to participate in profit [Podaci iz ko!ih .e dioniar imati pravo na sud!elovan!e u dobiti] e( >ata from %hich the transactions of transferor companies %ill be treated as being those of the transferee compan) for accounting purposes [Podaci iz kompani!a ko!i .e se smatrati podacima nove kompani!e te .e se tretirani za raunovodstvene svrhe] 6n case of (i&ision reor$ani8ation plan include too: a( 7he share e;change ratio [om!er razm!ene dionica] b( 7he terms relating to the allotment of share or interests, and the amount of cash pa)ments [uv!eti ko!i se odnose na dod!elu dionica ili interesa, i iznos isplate gotovine] c( "n) right in transferee companies to be allotted to the holders of share or other securities in the transferor compan) to %hich an) special rights attach [vlasnicima dionica ili drugih vri!ednosnih papira da se posebna prava prida!u^] d( >escription and allocation of assets and liabilities that are being transferred to each transferee compan) [opis i raspod!elu imovine i obveza ko!i se prenose na svaku transformisanu kompani!u] Beorganization plan must include a %ritten "+>67@BE5 B0P@B7, that include [revizorski izv!eta!] a( indication of methods used in determining the share e;change ratio [metodu koritenu u utvr-ivan!u om!era razm!ene dionica] b( auditorEs opinion 'on methods used( [mil!en!e revizora] c( description of valuation problems forced b) auditor 'if an)( [opis problema] -"cting %ith profession rule is necessar) -$o< introduces a special form of liabilit) -?embers of management, other members that dra% reorganization plan, auditors - liable to companies and shareholders if the) did not act in compliance %ith profession rules * -7hese are special profession rules prescribed b) 6nternational "ccounting 5tandards, as %ell as b) the rules of professional auditorEs organizations* -=atural person 'member of management %ho dra% reorganization plan( liable %ith his all assets* -$egal auditor compan) liable %ith all compan) assets -6ndividual auditor 'natural person( liable %ith his all private assets ME/0E/ #" a#sorption [apsorpci!omFspa!an!em] -<ompan) can 8?"BM0: assets and liabilities, %ithout regular liAuidation procedure to another compan)* '$o< allo% that( -possible onl) bet%een corporations, or bet%een partnerships F no mi;U

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-no limitations bet%een companies of same t)pe, e;ceptionall) !oint-stock compan) can merger onl) %ith another compan) %hich %ill fit criteria for open !oint-stock compan)* -compan) that emerges become 8o%ner: of obligations and rights, and its liable %ith all assets -goal [cil!] business nature Fcan use cooperative advantages versus competition -6f is a market position the same for both companies establishing ne% compan) -6f is a one more dominant from another absorption to the dominant one -b) $oc court can decline [odbiti] registration of ne% compan), if the founder is a ma!or o%ner in compan) that has outstanding [neizmirene] liabilities to creditors, or outstanding ta;es* -b) using analogia legis nethos apples to other cases of same form of status changes* Di&ision [odva!an!eFdi!el!en!e] -is form of status change %here one compan) is divided into t%o or more companies b) division >ivision status change can be carried b) C %a)s: a( #" a#sorption 'compan) is separated split assets on t%o or more companies( b( #" esta#lis2in$ new compan" 'compan) assets is devise bet%een t%o ne% companies( -ne% companies are liable for the obligations of divided compan) %ith entire assets of ne% compan) -Vith $o< it is necessar) to prepare reorganization plan* ->ecision cannot be made at the general meeting before shareholders have grained an insight into the proposed conditions of the partition balance 'reorganization plan( [dok ne budu upu.eni u plan reorga*] C2an$e in compan" 'orm [prom!ena forme'oblika( kompani!e] -implies a change the 8form: of e;isting companies -one is transferred to another %ithout changing o%nership structure -name, assets and other identifications of compan) sta) a same -<losed 9oint*stoc% compan" can onl) merge into limite(*lia#ilit" compan" '%ith CF/ of voting shares on general meeting( -@pen !oint-stock compan) - cannot change form -eAuit) of a limited-liabilit) compan) cannot be lo%er than min* prescribed b) la%* -limited-liabilit) compan) ] C*LLL #?", !oint-stock compan) ] OL*LLL #?" -decision to relating to the change of compan) form is made b) Securities Commission [1omisi!a za vri!ednosne papire]
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-submitters of application is b) !oint-stock compan) itself signed b) members of supervisor) board, and management members %ho proposed* - Securities Commission decides %ith WL da)s -if decision is not approval, its fate %ill depend on appeals procedure -if decision is favourable, the change %ill be entered into court register of companies #) $o< limited-liabilit) compan) can change into !oint-stock compan) base on decision on general meeting of both companies* 'if decision is pass %ith CF/ of voting shares( -shares depend of normal value of shares, minimum eAuit) of OL*LLL #?" is reAuired* -submission of application, and approval from <ommission #oard is reAuired too* Le$al conseBuence of status change: [pravne posl!edice] a( companies participating in a status change cease to e;ist b( companies participating in a status change are deleted from the court register of companies c( companies participating in a status change do not cease to e;ist pursuant to bankruptc) procedure or regular liAuidation procedure d( the ne%l) formed compan) retake all previous obligations of companies e( o%ners of companies that have ceased to e;ist - can be liable onl) if legal institution of piercing the corporate veil is activated* Economic conseBuence of status change: [ekonomske posl!edice] - ne%l) formed compan) is liable for all obligations transferred b) former companies - ne%l) formed compan) become holder of all rights, assets\ - status cannot be occur unless ta; obligations and other financial obligations are realized S"stems o' esta#lis2in$ companies [5istem osnivan!a kompani!a] Ve have more s)stems of establishing companies, there are:
a( normati&e s"stem [normativni^ sistem] b( s"stem o' law [pravni sistem] c( s"stem o' concessions [sistem koncesi!e] d( s"stem o' applications [Be im aplikaci!e 'prim!ene(] e( licensin$ s"stem [sistem licenciran!a]

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- comple;it) compan)Es form implement a combination of t%o or more s)stems* - procedure of establishing companies is defined b) legal instruments* -basic norms are contained in 4@P> [4akon o privrednim drutvima] - there are also separate legal instruments regulating this area, %hich prescribe the pre-reAuisites companies have to meet in order to be registered %ith the competent registration court* -special la%s and b)la%s have character and legal nature of le; specialis* -Act on /e$istration o' Business Su#9ects in 4e(eration B31 is legal frame%ork for process of registration business entities into court register* [4akon o registraci!i poslovnih sub!ekata u Gederaci!i #i, !e pravni okvir za proces registraci!e poslovnih sub!ekata u sudski registar*] -same provision is found in the Grame%ork "ct on the Begistration of #usiness 5ub!ects in #&, and B5 too*[6sta odredba se nalazi u okviru 4akona o registraci!i poslovnih sub!ekata u #i, i B5 tako-er] Normati&e s"stem -is considered dominant both in our legal s)stem and comparativel)* -7he essence of this s)stem is that a la% prescribes reAuirements for compan) establishment* -"ll natural and legal persons 'general and special reAuirements provided b) la%( - have right to register a compan)* -establishment of a compan) is completed %ith the act of its registration -registration court is authorized to Auestion meeting the reAuirements determined b) la%* -"ll founders [osnivai] are eAualU'including foreign legal and natural persons( - "n) limitations are determined b) a separate la%* -in the foreign direct investment regime approval of investment in militar) industr) and public communications is limited b) the foreign investment ma;imum of TN[* -normative s)stem prevails [prevladava] because it is applicable to all forms of compan) organization including the special ones, %hen additional establishment reAuirements are prescribed b) le; specialis* -other regimes of compan) establishment can thus be considered as accompan)ing this one* S"stem o' law [Pravni sistem] -that a compan) is established b) means of a special la% or another administrative document*
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- characteristic of the period of administrative management of economic trends "ct on 0stablishing Public 0nterprise 0lectric +tilit) of #&,, documents on establishing cantonal public utilities, "ct on Public Boads establishing the >irectorate of Boads in the Gederation #&,, etc* [Zakon o osnivan!u Savnog preduze.a 0lektroprivreda #i,, dokumenti o osnivan!u kantonalnih !avnih komunalnih slu bi, 4akon o Savnim cestama osnivan!em >irekci!e cesta u Gederaci!i #i,\] - it has been preserved to this da) in certain sectors significant for conducting activities of general interest %hich, in turn, is an e;pression of the need to satisf) citizensE reAuests* "nother term for these activities are utilit) services* [sauvan !e do danas u po!edinim sektorima, znaa!nih po obavl!an!u d!elatnosti od 8op.eg dobra: ko!i se, - izraz potrebe da zadovol!e zaht!evi gra-ana* >rugi izraz za ove aktivnosti su komunalne usluge*] -these companies are formed in accordance %ith special la%s & the) are registered as one of the t%o forms of corporations* -these forms of organization also have to undergo the registration regime %ith the authorized registration court* [mora!u se registrovati] )2e s"stem o' concessions [5istem koncesi!e 'ustupka(] -originated in the ?iddle "ges F granting permits to conduct, t)picall), trading activities* -6t has been preserved to this da) regardless of its apparentl) archaic elements* 7he e;istence of unavoidable legal regime of goods in general use makes this s)stem applicable for establishing certain companies that operate based on a granted concession, or based on granting a special form of approval* [Posto!an!e neizb!e nog pravnog sistema 8op.eg dobra: ini ova! s)stem prihvatl!ivi!im za osnivan!e kompani!e ko!a d!elu!e na osnovu neke koncesi!e ili specialnog odobren!a ] 7his s)stem is prevailing for goods in general or in common use as: [op.a ili za!ednika sredstva] -natural resources 'oil, gas, etc(, %ater, roads, harbors, airports etc* -granting concession fordoing certain activities of general interest* [op.e dobro] -this is a combination of normative regime and concession regime of compan) establishment* - registration of compan) also %ith the authorized registration court*
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- e;ample for this s)stem is also provided b) the regime for establishing free zones, since in the #&, legal regime their establishment reAuires the approval b) 0ntit) governments* [Prim!er za ova! sistem !e tako-er re im za osnivan!e slobodnih zona, !er u pravnom sistemu #i, n!ihove uspostave zahti!eva!u odobren!e od strane vlada entiteta*] Licensin$ s"stem [sistem licenciran!a] -is present %ith special forms of organization, %hen a special la% of the le; specialis nature, provides the basis for establishing these companies* -licenses are granted b) state regulator) organs* -in case of commercial banks, this is the #anking "genc), and in case of insurance companies5upervisor) "genc)* -for establishing !oint-stock companies '7he license b) the 5ecurities <ommission is necessar)( -these regimes can also be found in comparative legal s)stems in a similar form* -the procedure of its establishment is also completed %ith the registration %ith the authorized registration court* /e$ime o' application [Be im prim!ene] -is applied in cases %hen starting a given compan) reAuires an application* -7he application is submitted to the authorized state organ, %hich is also determined b) a separate $a% of policies of >irect Goreign 6nvestments in #&,* -7his regime is necessar) and is usuall) present in recording foreign investments* -6n the #&, legal regime - the obligator) recording of foreign investments is done based on a special la% b) >irectives for G>6 registration the constitutive section of %hich is the form for registration of foreign investment* [+ pravnom sistemu #i, obavezan upis stranih ulagan!a se vri na temel!u posebnog pravilnika direktiva za registraci!u izravnih stranih ulagan!a konstitutivni dio !e obrazac za registraci!u stranog ulagan!a*] -7he reasons include both the need to keep track of economic happenings in this area, i*e* collecting statistics and, above all, the fact that each state %ants to use the available data on foreign direct investment to issue special incentives and benefits, as %ell as harmonize the entire G>6 regime %ith numerous international conventions and the assumed obligations to%ards the international communit)* [Bazlozi ukl!uu!u i potrebu za pra.en!e ekonomskih doga-an!a u ovom podru!u, t!* prikupl!an!a statistike i, iznad
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svega, in!enica da svaka dr ava eli koristiti dostupne podatke o izravnim stranim ulagan!ima za izdavan!e posebnih potica!a i pogodnosti, kao i uskla-ivan!e ci!elog G>6 re ima s bro!nim me-unarodnim konvenci!ama i preuzetim obvezama prema me-unarodno! za!ednici* -7his s)stem is also accompanied b) the mandator) compan) registration %ith the competent registration court* -<ompetent organ for applications is ?inistr) of Goreign trade of #&,

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Compan" i(enti'iers [6dentifikatori kompani!e]

Compan" i(enti'iers7 Compan" name [naziv kompani!e] Business acti&it" [poslovna aktivnost 'd!elatnost(] /e$istere( o''ice [registrovano s!edite] /e$istration num#er [registraciski bro!] )a+ num#er etc> [porezni bro!] -<ompanies have their identifiers defined b) la%* -7he essential reason for the e;istence of compan) identifiers is their distinction in legal and business transactions* -registered companies %ith given identifiers also en!o) certain legal protection -Act on /e$istration o' Business Su#9ects in Gederation #&, is legal frame%ork for process of registration business entities into court register* -7he same on level of #&,, B5 and >istrict #rcko too* Basic man(ator" compan" i(enti'iers are7 [osnovni obvezni identifikatori] compan" name [naziv kompani!e] #usiness acti&it" [poslovna aktivnost 'd!elatnost(] re$istere( o''ice [registrovano s!edite] Ot2er i(enti'iers as well t2e man(ator"7 [ostali obavezni identifikatori] re$istration num#er [registraciski bro!] ta+ num#er [porezni bro!] custom num#er [carinski bro!] aut2ori8e( person*CEO **** [ovlatena osoba*** itd*]

OW 3 P a g e

Compan" name is the name under %hich a trading compan) operates and
b) %hich it is identified in legal and business transactions* 'mandator) compan) identifier reAuired b) la%( -it is one of the basic compan) attributes reAuired for the registration in the compan) register* [npr: Soint stock compan) 8<oca <ola:, 5ara!evo, #lazu!ski drum bb, #&,*] Act on /e$istration o' Business Su#9ects in 4e(eration B31 provides that the general information entered into the main register b) the competent registration court include: compan" name an( re$istere( o''ice 'ull names an( resi(ences o' all 'oun(ers ,owners- o' t2e re$istr" su#9ect> -" compan) is separated from its founders in terms of assetsY -conseAuentl) a distinction must be made both in terms of legal identifiers and in terms of the compan) name itself [imovina odvo!ena od osnivaa, stoga razlika mora biti napravl!ena kako u pogledu zakonskih identifikatora samog imena kompani!e*] -=aming corporations reAuires the mandator) designation of the compan) form in the full compan) name: L>L>C> ,(>o>o>- * limite(*lia#ilit" compan" [drutvo ograniene odgovornosti] ;SC ,(>(>- * 9oint*stoc% compan" [dioniko drutvo] -7his :designation: is onl) reAuirement for corporations -not forbidden to include other elements, e*g* personal elements into the compan) name -6ncluding personal elements in the corporationsE names is freAuent in practice* -7his statement is particularl) true of single-member companies 'compan) names of %hich freAuentl) include surnames, first names and various acron)ms( -personal elements are mandator) for the partnership names too* 7he compan) name of a compan) %ith unlimited solidar) liabilit) has to include: - surname o' at least one mem#er, [prezime bar !ednog lana] if more than one member in compan) - %ith the appropriate citation of t)pe: - surname o' at least one mem#er and compan), and sons***, and legal abbreviation d*n*o* [=aziv mora imati prezime 'ime( bar !ednog lana 'ako ih !e vie(, :i sinovi, i

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ortaci***: Q skraenicu 8d*n*o: to predstavl!a drutvo neograniene solidarne odgovornosti] <ompan) name of limited partnership [komanditno drutvo]and the compan) name of limited stock partnership [komanditno drutvo na dionice] have to include follo%ing elements: surname o' at least one partner and legal abbreviation LLP 'k*d* or k*d*d*( [prezime na!man!e !ednog partnera i pravnu skra.enicu $$P 'kd ili kdd(]

-=aming the compan) is a le$al o#li$ation *in t2e memoran(um o' association [u memoranduma udru ivan!a] -in all ot2er le$al instruments o' t2e compan" [u svim drugim pravnim instrumentima komp] -7his is a legal obligation for all compan) t)pes* -7his legal obligation also applies for parts o' an in(i&i(ual compan", regardless of their names* [d!elovi po!edinih kompani!a] -Parts o' enterprises have to appear under the compan) name as %ell* [poslu!u pod imenom kompani!e]

Compan" acti&it" 'd!elatnostFaktivnost komapni!e(

- is the economic activit) conducted b) a compan)* -Acti&it" is freAuentl) called the #usiness 'iel(* [pol!e poslovan!a] -"ctivit) itself implies a set of a fe% activities registered b) a compan) in the court register* [>!elatnost sama podrazumi!eva skup aktivnosti registriranih od strane kompani!e u sudski registar*] -6n practice, companies register a greater number of activities, t)picall) those the) assume could be their business field [ + praksi, kompani!e registrira!u ve.i bro! aktivnosti, po pravilu ona mogu biti n!ihovo pol!e poslovan!a ] -<ompanies must register their activit), i*e* have it filed into the court register* -4@P> prescribes that the legal personalit) is acAuired on the da) of registration in the court register* -7he ver) act of registration in the court register is not the sufficient pre-reAuisite for starting the registered business activit)* [Rin upisa u sudski registar ni!e dovol!an preduv!et za poetak bavl!an!a registriranom d!elatnou] - 7he additional pre-reAuisite is obtaining a document b) a competent state organ 'inspection team( on fulfilling, above all, technical reAuirements for conducting a given activit)* [>odatni preduv!et !e dobivan!e dokumenta od strane nadle nog dr avnog organa 'inspekci!skog tima( o ispun!avan!u, pri!e svega, tehnikih uv!eta za obavl!an!e odre-ene aktivnosti*] OZ 3 P a g e

-5pecial reAuirements for some activities 'regulated b) la%s and depend on the t)pe of industr)( - these special conditions are prescribed b) relevant ministries or b) 0ntit) governments* Gor e;ample special reAuirements in the fields: Pharmac) industr), Good industr), "uditing services, 5ecurities, Mambling, Gor%arding companies etc*

/e$istere( o''ice

[registrovano s!edite]

-<ompan) registered office is its mandator) element, i*e* it represents a constituent part of the compan) name* -4@P> defines registered office as a site %hich is registered as a registered office in the register of companies 'also determined b) the memorandum of association or statute( [4@P> definira s!edite kao m!esto ko!e !e registrirano kao 8registrirani ured: u registru poduze.a* 7ako-er odre-en memorandumom o udru ivan!u ili statutom kompani!e] -registered office must be designated in both documentsUU 'u oba dokumenta bi trebao biti( - 4@P> prescribes that offices are registered onl) in the court register in the registration court %here the compan) is registered* -branches [produ nice] should be sub!ect to the same regulation, i*e* that the office name must include its seat, %ith the mandator) citation of the registered office of the compan) itself* 7his is necessar) for: 'da se koristi samo !edna adresa za sve urede, produ nice***( *(eterminin$ lia#ilit" [utvr-ivan!a odgovornosti] *(eterminin$ t2e aut2ori8e( court in (isputes [odre-ivan!e nadle nog suda u sporovima] *e+ecutin$ (ecisions [izvren!a odluke] *in or(er to i(enti'" an( protect t2ir( partiesN interests [kako bi se identificirali i zatitili interesi tre.ih osoba] -7he registered office is t)picall) defined as a site %hich is also the site %here business is managed from* -7he 4@P> solution is not practical 'compan) registered office doesnEt necessaril) have points of contact %ith the site %here economic activit) is conducted(* [na to! adresi ne mora znaiti da su i slu be ko!e obavl!a!u neku npr* 0konomsku d!elatnost] -7he management seat is, then, fairl) broadl) defined[s!edite menad menta !e iroko definisano] " compan) registered office serves to determine:

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-competence of the court %ith respect to all subseAuent changes pertaining to the registration of mandator) elements in compan) register [nadle nosti suda s obzirom na sve naknadne prom!ene ko!e se odnose na upis obveznih elemenata u registar poduze.a] -competence of the municipal court %hich protects the compan) name b) dut), and during the ver) act of compan) registration [nadle nost op.inskog suda ko!i titi naziv kompani!e po du nosti, a za vri!eme samog ina registraci!e poduze.a] -compan) seat is also relevant to determine local !urisdiction of the actuall) competent court in resolving mutual disputes bet%een the compan) founders [s!edite kompani!e !e tako-er relevantno za odre-ivan!e lokalne nadle nost stvarnog nadle nog suda u r!eavan!u me-usobne sporove izme-u osnivaa kompani!e] -further, in accordance %ith legal proceedings, the court competence in business disputes is determine based on the registered office of the compan) [dal!e, u skladu sa sudskim postupkom, nadle nost suda u poslovnim sporovima ko!i se odre-u!u na temel!u s!edite kompani!e] -registered office of a compan) also serves to determine the competent court for e;ecuting deeds on monetar) resources and movable ob!ects [5!edite kompani!e tako-er slu i za odre-ivan!e nadle nog suda za izvren!a d!ela na novana sredstva i pokretne ob!ekte] -conducting legal and administrative disputes is also guided b) the compan)Es registered office [obavl!an!e pravnih i upravnih sporove !e tako-er vod!eno u s!editu kompani!e] -in e;ecuting bankruptc) proceedings, the e;clusive competence of municipal court is decided upon depending on the registered office of bankruptc) debtor [u provedbi stea!nog postupka, iskl!uiva nadle nost op.inskog suda ovisno gd!e !e s!edite stea!nih du nika]

Ot2er compan" i(enti'iers [drugi identifikatori kompani!e]

- #esides the listed identifiers, %hich determine the compan) t)pe and identification elements, companies have other identifiers that presentl) appear as mandator) [@sim navedenih identifikatora, ko!i odre-u!u tip kompani!e i identifikacione elemente, kompani!e ima!u druge identifikatore ko!i se danas po!avl!u!u kao obavezni] -7he goal of establishing these identifiers is achieving as full identification of a compan) as possible compared to others [<il! uspostavl!an!a ovih identifikatora !e to !e mogu.e ve.a identifikaci!a poduze.a u usporedbi s drugima]

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7hese are identifiers pertaining to the legal obligation of opening and registering: [odnose se na otvaran!e i registraci!u] *ta+ num#er [porezni bro!] *customs num#er [carinski bro!] *re$istration [registraci!a] *i(enti'ication num#ers> [identifikacioni ili matini bro!] 7he) %ould also include the mandator) citation of a compan" transaction num#er*account in official companies correspondence, together %ith namin$ o' commercial #an%s %here the accounts have been opened* [@ni tako-er podrazum!eva!u obvezno navo-en!e bro!a transakcionog rauna poduze.a u slu benim predstavnitvima kompani!e, za!edno s imenom komerci!alne banake gd!e !eFsu rauni otvoreni] @ther compan) identifiers ma) include its optional elements that further contribute to visual recognition of the compan)Es name and the compan) itself* -7hese ma) range from 8logos and trademarks to various designer solutions, %ording, abbreviations, slogans used in trading, etc* 8 [abbreviations - kratice]

Enterin$ #usiness entities into court re$ister [unos poslovnih sub!ekata u sudski registar]
5ub!ects of entr) into court register include all business entities that are obligated to do so b) la%s of 0ntities and #rko >istrict* [5ub!ekti upisa u sudski registar su svi poslovni sub!ekti ko!i su obvezni to uiniti 'upisati se u registar( po zakonima entiteta i #rko >istrikta*] "ct on Begistration of #usiness 5ub!ects in Gederation #&, is legal frame%ork for process of registration business entities into court register* [4akon o registraci!i poslovnih sub!ekata u Gederaci!i #i, !e pravni okvir za proces registraci!e poslovnih sub!ekata u sudski registar*]

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7he same provision is found in the Grame%ork "ct on the Begistration of #usiness 5ub!ects in #&, and B5 to* [6sta odredba se nalazi u okviru 4akona o registraci!i poslovnih sub!ekata u #i, i B5-u*] "ccording to :O/PS, follo%ing business entities are entered into register: -all forms of business societies and their associations [svi oblici poslovnih drutava i n!ihovih udruga] - all public enterprises [sva !avna poduze.a] - all institutions %ith public authorit) [sve instituci!e s !avnim ovlastima] - establishments, - public corporations [!avne korporaci!e] - business societies [] - co-operatives [zadruge] - co-operative alliances and other entities as defined b) a separate la% in Gederation #&,* [zadru ni savezi] -5imilar definitions can be found in B5 and #rko >istrict legislation* [5line definici!e mogu se na.i u B5 i #rko >istriktu] [4@BP5 - 4akonom o registraci!i poslovnih sub!ekata ] Begistration court can reAuire onl) the information determined b) la%* =o other proofs be)ond this circle can be reAuired* [Begistraci!ski sud mo e zahti!evati samo podatke odre-ene zakonom* =ikakav drugi dokaz izvan tog kruga mo e biti potreban*] 0ntit) solutions in this field are in full accordance* 7he data are classified to general and special* #oth are the same for both entities and #rcko >istrict too* [0ntitetska r!een!a u ovom podru!u su u punom skladu* Podaci se razvrstava!u na op.e i posebne* @ba su isti za oba entiteta i #rko >istrikta tako-er*] )2e $eneral (ata inclu(e7 [op.i podaci ukl!uu!u] -'irm an( seat i>e> 'ull name an( seat o' all t2e 'oun(ersAowners o' t2e su#9ect o' entr" [firma i s!edite, odnosno puni naziv i s!edite svih osnivaa] -o#9ect o' entr" [predmet upisa] *'irm an( seat o' t2e su#9ect o' entr" [firma i s!edite sub!ekta upisa] *a##re&iate( name o' 'irm*su#9ect o' entr" [skraeni naziv kompanije] *ta+ation an( i(enti'ication num#er [porezni i identifikaci!ski bro!] *custom num#er [carinski bro!] *'orm o' t2e su#9ect o' entr" [oblik sub!ekta upisa] *'ull name an( position o' t2e aut2ori8e( representati&e o' su#9ect o' entr" [puni naziv i polo a! ovlatenog zastupnika sub!ekta upisa]

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*e+tent o' aut2orities o' t2e representati&e o' t2e su#9ect o' entr" [opseg ovlasti zastupnika sub!ekta upisa] *amount o' a$ree( ,(ocumente(- eBuit" [iznos ugovorene 'dokumentirano( kapital] *amount o' t2e capital pai( in cas2 [iznos kapitala pla.ena u gotovini] *amount o' capital in assets an( ri$2ts [kapitala u iznosu od imovine i prava] *percenta$e o' participation o' eac2 in(i&i(ual 'oun(er in t2e capital o' su#9ect o' entr" ,in cas2 assets an( ri$2ts- [postotak ue.a svakog po!edinanog osnivaa u kapitalu sub!ekta upisa 'u novcu, sredstva i prava(] -7he data include data that have to be entered into register of societies in case of entering parts of business societ), entering mutuall) related sub!ects of entr), and entering status changes, i*e* changes in $eneral or special (ata important for legal operations* [Podaci ukl!uu!u podatke ko!i mora!u biti upisani u registar drutava u slua!u ulaska di!elova poslovnih drutava, ulazak me-usobno povezanih sub!ekata upisa, te ulazak statusnih prom!ena, odnosno prom!ene u op.im ili posebnim podatcima va nih za pravne poslove] "s such, special (ata include: -branches of business units of sub!ect of entr) [grane poslovne !edinice sub!ekta upisa] -ties of subsidiar) societ) [veze podru nica drutva] -merger bet%een t%o or more sub!ects of entr) [spa!an!em izme-u dvi!e ili vie sub!ekata upisa] -amalgamation to one or more sub!ects of entr) to another sub!ect of entr) [spa!an!e na !ednu ili vie sub!ekata upisa sa drugim sub!ektom upisa] -divisions of sub!ects of entr) to t%o or more sub!ects of entr) [pod!ela predmeta upisa na dva ili vie sub!ekata upisa] -changes of the form of sub!ect of entr)- transformation [prom!ene oblika sub!ekta upisa-transformaci!a] -and %a)s of cessation of sub!ect of entr) [nain prestanka sub!ekta upisa] /e$istration o' t2e #ranc2 as part of business societ), reAuires registration into societ) register of follo%ing obligator) special data: [Begistraci!a 8grane: 'produ nice(, kao dio poslovan!a drutva, zahti!eva upis u registar drutva sl!ede.im posebnim obveznim podacima] -firm and seat of branch or business unit of sub!ect of entr) [firma i s!edite podru nice ili poslovne !edinice] -business activit) of the branch or business unit of sub!ect of entr) [predmet poslovan!a podru nice ili poslovne !edinice] -name, number and date of the document on the establishment of branch or business unit of sub!ect of entr) [naziv, bro! i datum akta o osnivan!u podru nice ili poslovne !edinice sub!ekta upisa] W/ 3 P a g e

-the full name of the person authorized for representing the branch or business unit of sub!ect of entr) [puno ime osobe ovlatene za zastupan!e podru nice ili poslovne !edinice sub!ekta upisa] Special (ata are reAuired for subsidiar) societies as %ell: - status changes of mergers [statusne prom!ene 8spa!an!a:] - amalgamations and divisions of sub!ect of entr) and the registration of cessationremoval of sub!ect of entr)* [spa!an!e i pod!ela sub!ekta upisa i registraci!a prestanka-uklan!an!e sub!ekta upisa] 7hese are the data that %ill allo% eas) identification and linking sub!ects being registered and sub!ects being removed from the societ) register* [7o su podaci ko!i .e omogu.iti !ednostavnu identifikaci!u i povezivan!e registriranih sub!ekata kao i uklon!enih sub!ekata iz drutvenog registra] 7hese data are necessar) since it should be kno%n %ho is the ne% legal successor of the obligations and rights of business societ) ceasing to e;ist*[@vi podaci su potrebni !er to bi trebalo biti poznato ko !e novi pravni sl!edbenik obveze i prava poslovnog drutva ko!e presta!e posto!ati*] "s a separate obligation in registering necessar) data, 4@P> provides for the registration of identification information on members, deposits and liabilit) for obligations in societ) %ith stock and shares in the societ)* [1ao poseban obveza u registriran!u potrebnih podataka, 4@P> osigurava registraci!u identifikaci!skih informaci!a o lanovima, depozitu i odgovornosti za obveze u drutvu s dionicama i ud!ele u drutvu*] 7hese include follo%ing: -full name and address of residence, or firm and address of seat, of members of unlimited liabilit) societ), !oint liabilit), limited partnership and limited liabilit) societ) [Puni naziv i adresu stanovan!a, odnosno firma i adresa s!edita, lanova drutva neograniene odgovornosti, za!ednike odgovornosti, komanditnog drutva i drutva sa ogranienom odgovorno.u] -amount of agreed 'documented( and deposited stakes of members of limited partnership and limited liabilit) compan) [6znos ugovorene 'dokumentirano( i odla e ud!ele lanova komanditnog drutva i drutva s ogranienom odgovorno.uY -total number of shares and amounts of respective shares, e;pressed in percentage of participation in eAuit) for each member of the limited liabilit) compan) [ ukupan bro! dionica i koliine po!edinih dionica, izra en u postotku ue.a u kapitalu za svakog lana drutva ograniene odgovornosti] -s)mbol for class, number and nominal value of stock compan) shares, b) classes* [simbol za klasu, bro! i nominalnu vri!ednost dionica dionikog drutva, po klasama*]

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-Vhat is considered substantial and %hat should be integral part of the $a%, the part pertaining to the societ) register, is the provision regulating %hen an application for registering the establishment of business societies %ill be re!ected* [to se smatra znaa!nim, a to bi trebao biti sastavni dio zakona, dio ko!i se odnosi na registar drutva, !e odredba ko!a regulira kada .e zaht!ev za upis osnivan!a poslovnih drutava bit odbi!en] )2ese are 'ollowin$ cases7 -invalidit) of founding document [neval!anost dokument o osnivan!u] -%hen before appl)ing for registration of the establishment of societ) in court register deposits in the amount determined in founding document have not been paid, in accordance %ith la% [dokument o osnivan!u nisu pla.eni, u skladu sa zakonom] -%hen the activit) of goal of operations is against the la% [kada !e cil! d!elatnosti operaci!a protiv zakona] -if the societ) founders cannot found a societ) according to la% [kada osnivai ne mogu osnovati drutvo u skladu sa zakonom] -if the founder is ma!orit) o%ner is a societ) that has outstanding obligations to creditors, or outstanding ta;es [ako !e osniva ve.inski vlasnik u drutvu ko!e ima neizmirene obveza prema kreditorima, ili neizmirene poreze] -if the founder or one of founders is a member of an e;isting unlimited solidarit) liabilit) or a limited partnership [ako !e osniva ili !edan od osnivaa lan posto!e.eg drutva neograniene solidarne odgovornosti ili komanditnog drutva] -if the founder or one of founders is the onl) member of a limited liabilit) compan) that is undergoing the bankruptc) or liAuidation procedure or if a claim has been filed against the societ) b) one or more creditors %hose outstanding and unpaid claims surpass the half of societ)Es eAuit)*["ko !e osniva ili !edan od osnivaa !edini lan drutva s ogranienom odgovorno.u ko!e prolazi stea!a ili postupka likvidaci!e ili ako !e zaht!ev podnesen protiv drutva od strane !ednog ili vie pov!erilaca i!a !e neizmirena i nepla.ena potra ivan!a prelaze polovicu drutvenog kapitala] -Begistration procedure is conducted b) municipal courts as actuall) competent courts* [registraci!ski postupak provode op.inski sudovi kao 8stvarni: nadle ni sudovi*] -7he decision is made b) individual !udge* [odluku donosi sudac po!edinac*] -$ocal competenc) is determined depending on the proposed seat of business societ)* [lokalne nadle nost se odre-u!u ovisno o predlo enenom s!editu poslovan!a drutva*]

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-Grame%ork $a% on Begistration of #usiness 0ntities in #&, onl) provides basics of implementing the registration procedure, %hile the detailed provisions can be found in 0ntit) la%s and #rcko >istrict legislation* [okvirni zakon o registraci!i poslovnih sub!ekata u #i, samo pru a osnove prim!ene postupka registraci!e, a detal!ne odredbe se mogu na.i u entitetskim zakonima i zakonima #rko >istrikta] -"pplication for registration can also be submitted online, if it is possible to submit and check the electronic signature* [zaht!ev za registraci!u mo e se podni!eti online, ako !e mogu.e dostaviti i prov!eriti elektronski potpis] -7his is the Aualified electronic signature or the so-called secure electronic signature, as named b) the legislator* [to !e kvalificirani elektronski potpis ili tzv siguran elektronski potpis, kao i ime zakonodavca] -6mplementation of these provisions is still to be implemented until the establishment of accredited institutions for issuing secure electronic signatures, and courts become capable of use information technolog) to process electronic applications* [implementaci!a ovih odredbi .e se i dal!e provoditi do osnivan!a akreditiranih instituci!a za izdavan!e sigurnog elektronskog potpisa, a sudovi postanu sposobni koristiti imformacione tehnologi!e za obradu elektronske aplikaci!e] Applications [aplikaci!e] Consumer to #usness CIB <onsumers6nternet<ompan) Business to #usiness BIB <ompan)6nternet<ompan) <ompan)6nternet5tock of 0;change Population6nternet5tock of 0;change 5tock of 0;change6nternet5tock of 0;change Movernment6nternet<ompan) Movernment6nternetMovernment Movernment6nternet7a;pa)ers Veb #ased 5ervices [%eb usluge] -open X:/L am-midnight [otvara!u se u X:/L iza pono.i] -online <orporation $a%s [online zakoni koroporaci!a] -pa) annual ta;es [plaan!e godin!eg poreza] -do%nload forms [preuziman!e obrasca] -reserve corporate names [rezervisana imena] -research status of >ela%are business entities [istra ivan!a] ->ue to freAuent abuses in the procedure of business sub!ect registration, particularl) %ith the so-called phantom or non-e;istent firms, %e must %elcome the introduction of legal reAuirement for registration court to check the identit) of applicant or founder [zbog estih zloupotreba u postupku poslovnog sub!ekta upisa, posebice tzv fantom ili neposto!e.e tvrtke, moramo 8pozdraviti: uvo-en!e zakonskih

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uv!eta za upis u registraciski sudski, prov!eriti identitet podnositel!a zaht!eva ili osnivaa] -Begistration court is obligated to accept the application, but not to process it before conducting the described check* [registraci!ski sud !e du an da prihvati zaht!ev, ali da ne vodi postupak pri!e prov!ere] -#esides the check of applicantEs identit), court checks the e;clusivit) of firm sub!ect of entr) and pa)ment of stamp dut) [uz prov!eru identiteta podnositel!a zaht!eva, sud prov!erava iskl!uivost firme -sub!ekta upisa i uplate takse] - 6n further registration procedure, registration court e;amines the e;istence of formal and material prereAuisites for registration* [sud ispitu!e posto!an!e formalnih i materi!alnih pretpostavki za registraci!u] Gormal prereAuisites are follo%ing: - that the application %as submitted b) authorized person [da !e zaht!ev podnesen od strane ovlatenih osoba] - that the application %as submitted on the prescribed form and signed b) the applicant [da !e zaht!ev bio podnesen na propisanom obrascu i potpisana od strane podnositel!a zaht!eva] - that all the reAuired documents %ere enclosed %ith the application [da su svi potrebni dokumenti prilo eni sa aplikaci!om] - that the accepter documents have proper content and %ere issued through the appropriate procedure [da svi prihva.eni dokumenti ima!u odgovara!u.i sadr a! i das u izdani putem odgovara!u.eg postupka] -Begistration court issues decisions in the form of conclusions and decisions* [registracioni sud donosi odluke u obliku zakl!uaka i odluka] -7he conclusions govern the issues of procedural nature, %hile the decision decides on the validit), i*e* acceptance of the application and its registration or re!ection* [zakl!uci regulira!u pitan!a proceduralne prirode, a odluka odluu!e o val!anosti, odnosno o prihvatu pri!ave i upisa ili odbi!an!u] -=aturall), the decision also decides on all the later changes of data related to the status of the alread) entered, i*e* registered business societ)* [naravno, odluka tako-er odluu!e na sve kasni!e izm!ene podataka vezanih za status ve. pri!avl!enih, odnosno registrirani poslovnih drutava] - Vith respect to legal remedies, interested parties can file an appeal to the decision on registration %ithin eight da)s starting from the da) of receiving the decision* [s obzirom na pravna sredstva, zainteresovani mogu ulo iti albu na odluku o registraci!i u roku od osam dana od dana pri!ema r!een!a] -6nterested parties include sub!ects of entr) themselves, as %ell as an) legal or natural person having some legal interest* [zainteresirane strane ukl!uu!u sub!ekata upisa, kao i svaku pravnu ili fiziku osobu ko!a ima neki pravni interes] WX 3 P a g e

-+pon the filed appeal, the competent registration court can agree %ith the appeal if the) establish that it is grounded, and resolve the case in another %a)* [po podnoen!u albe, nadle ni sudu registraci!e mo e se slo iti s albom ako utvrde da ona ima temel!, i ri!ei slua! na drugi nain] Begistration court is obligated to deliver all the decisions on registration, changes of data in register, and removal from the societ) register to: [registraci!ski sud !e du an dostaviti sve odluke o registraci!i, prom!ene podataka u registru te brisan!e iz registradrutava] -6ndirect 7a;ation "dministration [uprava za indirektno oporezivan!e] -?unicipalit) and <anton according to the seat of sub!ect of entr) [op.ine i kantona prema s!editu sub!ekta upisa] -#ureau of 5tatistics [zavod za statistiku] -<hamber of <ommerce [privredna komora^] -Pension and >isabilit) 6nsurance "genc) according to the seat of sub!ect of entr) [penziono i invalidsko osiguran!e agenci!e prema s!editu upisa sub!ekta] -Belevant <ustoms "dministration if the sub!ect of entr) registered foreign trade operations [relevantne carinske uprava, ako !e sub!ekt upisa registriran za van!skotrgovinsko poslovan!e] -Belevant regulator) bodies for special forms of organization such as <ommittee for 5ecurities and 5ecurities Begister for stock companies, #anking "genc) for commercial banks, and 5upervisor) "genc) for insurance companies* [relevantna regulatorna ti!ela za posebne oblike organizaci!e kao to !e @dbor za vri!ednosne papire i Begistar za vri!ednosne papire dionikih drutava, "genci!a za bankarstvo za poslovne banke, i "genci!a za nadzor drutava za osiguran!e] ->eadline for issuing decision on business entit) registration is five da)s starting from the da) of submitting proper and documented application* [rok za izdavan!e r!een!a o registraci!i poslovnog sub!ekta !e pet dana, poevi od dana podnoen!a pravilno dokumentirane aplikaci!e] -6f there are certain deficiencies, registration court uses a conclusion to order the sub!ect of entr) to remove them, and shall dismiss the registration if the latter does not compl)* [ako posto!e odre-ene man!kavosti, registraci!ski sud koristi zakl!uak da naredi sub!ektu upisa n!ihovo uklan!an!e, te .e se odbaciti pri!ava ako se to ne ispotu!e]

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