 Introduction – Definition of terms (chapter 1)

 Legal system of Bosnia and Herzegovina (chapter 2)

 Legal forms of company law: sources of law (chapter 3)
 Fundamental concepts about state and law (chapter 4)
 Fundamentals of Law of Obligations (chapter 5)
 Labour law (chapter 6)
 Company Law (chapter 7)
 Company's liability (chapter 8)
 Company status changes (chapter 9)
 Systems of establishing companies (chapter 10)
 Company identifiers (chapter 11)

 Entering business into the court register (chapter 13)

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 - označava akademsku disciplinu]
*Company law – more suitable for this discipline and content [više prikladan za ovu disciplinu i sadržaj]
Applied Business Law & Business law includes:
-Company law [zakon o kompanijama]
-Law on obligation [obligaciono pravo]
-Labor law [radničko pravo]
-Contractual law [zakon o ugovorima]
-Securities [vrijednosnice]
-Business Law is a broader (šira) discipline and includes various matters such as different business
contracts – especially: contracts of sale, securities & law on competition.
Understanding of the legal system of B&H is necessary for other economics courses:
*Banking, insurance, government finance, securities and international business law
[Bankarstvo, osiguranje, vladine finansije, vrijednosni papiri i međunarodno poslovno pravo]

*Legal SYSTEMS [Pravni sistemi]

-is set of the general legal norms distributed bases on their content (social relations they regulate), into
a number of smaller or larger linked as whole [je skup općih pravnih normi distribuiranih na osnovu
njihovog sadržaja (društvenih odnosa koje reguliraju), u nekoliko manjih ili većih povezanih u cjelinu]
-3 major legal systems-legal circles in the world:
-European Law or Continental Law [Europsko pravo ili Kontinentalno pravo]
-Common Law or Anglo-Saxon Law [Zajedničko pravo ili Anglo-Saksonsko pravo]
-Islamic Law or Traditional Law [Islamsko pravo ili Tradicionalno pravo]

Continental Law (European Law) [Europsko pravo ili Kontinentalno pravo]]

-is the most prevent legal system in modern world
-the oldest in human history
-may also be referred to:

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 Roman Law, Roman-Germanic Law, Germanic Law or Continental Civil Law
-based on a code, or “a systematic collection of interrelated articles written in a terse staccato style
[temelji se na kodu, ili "sistemskom prikupljanju međusobno povezanih članaka zapisanih u ovom stil”]
-for ex. The Code Napoleon (Continental Civil Law):
-of Persons [osobe]
-of Things and the Different Modifications of Ownership [stvari i različiti načini promjene
vlasništva]
-of the Different Modes of Acquring the Ownership of Things [različiti načini stjecanja vlasništva
nad stvarima]

Common Law or Anglo-Saxon Law [Zajedničko pravo ili Anglo-Saksonsko pravo]

-refers to Law and corresponding legal system developed through decision of courts and similar
tribunals (called: Case Law), rather than trough legislative statues. [pravo i odgovarajuči pravni stistem
razvijen kroz odluke sudova i sl. tribunal, nego kroz zakonodavne statute]
-created & refined by judges
-current decision depends on decisions in previous cases and it will be applied in future cases
*PRECEDENT – is an official action or decision that has happened in the past and that is seen as an
example or a rule to be followed in a similar situation later [Presedan - je službena radnja ili odluka koje
se dogodila u prošlosti te je viđena kao primjer ili pravilo koje treba slijediti u sličnoj situaciji kasnije]

-if a similar dispute (spor) has been resolved in the past, the court is bound to follow the reasoning used
in prior decision
-when there is no legal statement of law from the past, judges have the authority & duty to make law by
creating PRECEDENT
-body of precedent is called “Common Law” and binds future decisions
-so when parties disagree on “what the law is” court will look to past precedential decisions

Islamic Law (SHARIA) or Traditional Law [Islamsko pravo ili Tradicionalno pravo]
-Sharia is body of Islamic religious law
-it means “way” or “path to the water source”
-legal framework that regulates public and political aspects of life for those living in legal systems based
on Islamic principles of jurisprudence and for Muslims living outside the domen.
-deals with: [bavi se]
politics, economics, banking, business, contracts, family, sexuality, hygiene, social issues
[politikom, ekonomijom, bankarstvom, poslovanjem, ugovorima, porodicama, seksualnosti,
higijenom, socijalnim pitanjima]
-Sharia is more of system of Law
-no strictly static set of laws of Sharia
-based on Qur’an

Legal System of B&H (LS B&H) [pravni sistem BIH]

-has been determined by the specific stated in our constitutional order and/or constitutional solutions
that resulted from the Deyton Peace Accord [Pravni system BiH je određen prema specifičnostima
navedenim u našem ustavnom poredku i/ili ustavnim riješenjem koja su rezultat Dejtosnog mirovnog
sporazuma]
-B&H is the result of the dissolution of the former SFRY

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-general framework is “The Agreement for Peace in B&H”
-has XI Annexes and number of International Conventions
-Annexes IV & X are the constitution in technical meaning of this term.

B&H consist of two Entities:

*FEDERATION of B&H [Federacija BiH]
*THE REPUBLIC OF SRPSKA [Republika Srpska]
and *Brčko District as a special part of B&H territory [Brčko distrikt]

Federation of B&H
-consist of 10 Cantons with significant level of legislative authorizations and powers.
-have own constitution
The Republic of Srpska
-within the RS is Municipalities (općine)
-have own constitution
Brčko District
-established by OHR
-under direct authority of central government of B&H

(1.) First & Highest LEGAL BASE for joint legislation at the level of B&H is presented by the
CONSTITUTION of B&H (1995) as integral part of Deyton Peace Accord. [Prvi i najveći “Pravni
temelj” za zajednočko zakonodavstvo – Ustav BiH / u sklopu Dejtonsog mirovnog sporazuma]

(2.) Second LEGAL BASE is joint legal regulations at the level of B&H as state . [Drugi pravni temelj su
zejednički zakonodavni propisi na nivou države BiH

B&H – 3 different legislation levels [zakonodavni nivo]

1st level of B&H  PARLAMENT is legislation body [nivo države BiH – Parlament je zako. tijelo]
2nd level are Entities levels Assemblies [nivo entiteta – Skupština je zakonodavno tijelo]
3rd level of Cantons in F B&H Assemblies [nivo kantona F BiH –Skupština je zakonodavno tijelo]

There are laws that are:

-uniform with territory of B&H as a whole [na prostoru čitave BiH]
-the laws that exist on the territory of the F B&H [na prostoru Federacije]
-the laws that exist on the territory of the RS [na prostoru Republike Srpske]
-the laws that exist on the Canton territory, but with F B&H itself [na prostoru kantona u F BiH]
-the laws that exist on the territory of the Brčko DC [na prostoru Brčko Distrikta]
Council of Ministers is Government of B&H – vjeće ministara
-competence are still limited [ograničene ovlasti]

High Representative for B&H [visoki predstavnik za BiH]

-special and important institution for B&H
-has authorization to in-force new provisions independently of political wishes or wishes of members of
different assemblies in B&H

Supervisor for Brčko District [Supervizor za Brčko distrikt]

-same authorizations as High Representative for B&H

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Directorate for EU integrations (institution)[ Direkcija za EU integracije (ustanova)]
-instituted by separate Law on The Council of Ministers
-coordinating activities of governmental bodies of B&H
-preparing drafts & proposals of policies, laws, other provisions and guidelines in order to
include B&H into European integration process
-giving initiatives & consulting

Directorate for EU integrations is competent for: [NADLEŽNOSTI]

-coordinating jobs with B&H system harmonizing with standards for the accession to the European
Union community law. [kordinira poslove oko harmonizacije BiH sa standardima EU pravima zajednice]
-checking the compliance of all the drafts of law (submitted by ministries and administrative
organizations to the Council of Ministers) with WHITH BOOK directives. [provjerava usklađenost svih
nacrta koji se podnesu vijeću ministara od strane ministarstava i administrativnih organa sa direktivama
“Bijele knjige”] White book  directives for integration [Bijela knjiga – udruženje zemalja Srednje i
Istočne Evrope za integraciju unutrašnjih tržista i procedure za ispunjavanje zahtjeva relevantnih
direktiva.
-charge for contracts with European Committee (as technical-operative body) [za kontakte sa Evropskim
odborom]
-coordinate over implementing the decisions by competent bodies and institutions of B&H, Entities and
Brčko DC + regarding all the activities necessary for European integration. [kordinacija tokom provedbe
odluka nadležnih organa i institucija.. u vezi svih aktivnosti potrebnih za Evropske integracije]

Directorate for EU integrations participate in: [UČESTVUJE U]

-activities & drafting, or other regulations related to work that must be done in order of accession
process in European integration. [učestvuje u izradi zakona, propisa i smjernica koje se odnose na
poslove koje je BiH dužna poduzeti u okviru procesa pristupanja evropskim integracijama]
-as part of European Committee’s institution as part of stabilizing and accession processes. [u sklopu
Evropskog odbora u sklopu procesa o stabilizaciji i pridruživanju]
-coordinating of the EU Committee support for B&H [kordinacija EU odbora za podršku BiH]

Directorate -not going into enumeration [nabrajanje], only important is:

-joint legislation at the level of B&H [zajedničko zakonodavstvo na nivou BiH]
-harmonization with International Community requirements and various International organizations
[usklađenost sa zahtjevima međunarodne zajednice i dr. međunarodnih organizacija]
-all this is pre-requested for accession to the international integrations to the EU [pred uvijet za
pristupanje međunarodnim integracinama u EU]

Business Law subject has been regulated at level of the Entities level.
- Law on Business Enterprises [zakon o preduzećima]
- Law on Bankruptcy Proceeding [zakon o stečajnom postupku]
- Law on Trade [zakon o trgovini]
- Law on Obligation [zakon o obavezama]
Some specific meters regulated at the state level
- Domain of foreign direct investment [domen izravnih stranih ulaganja]
- Free zones [slobodne zone]
- Intellectual property rights [prava intelektualnog vlasništva]

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 - Protection of consumers [zaštita potrošača]
- Public procurements [javne nabavke]
- Foreign trade [vanjska trgovina]
- Custom policy [carinska politika]
- Competition [konkurencija]
- Concessions [koncesije]
The [Business Law] subject matter deals with:
-joint legal regulations at the level of B&H as state
-legal regulations at the entities levels

[DEF] STATE (država)

 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 community territorially demarcated the
universal external conditions of social order/Maclaver

 State is a territorial society, divided into government and subjects, whether individuals or
associations of individuals, whose relationship are determinate by exercise of this supreme co
erective power / Laski

Main figures of the state: (glavni elementi države)

-Territory/fixed borders.
-Population/citizens/individuals.
-Sovereignty/political power, independency, equality with other state.
-International recognition/new states, new government.

Population (Stanovništvo)
People or population is the human element of state. No people no state!
-India and China - huge population,
-countries like San Marino, Monaco - vary small population.

Definite territory (određena/definisana teritorija sa granicama)

-territorial sovereignty or the superiority of the state over all within its boundaries
-complete freedom from external control (bez uticaja drugih država)
-the territory has to be definite because it ensure the exercise of political authority.
-nomadic people (have some form of political organization), do not have a definite territory, so (not
constitute a state).

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-territory is large, or small but DEFINIED!
-a large area with natural resource makes a state powerful.
-large size of a state (strategic and military advantages).
-territory of a state includes land, water and sky over it and natural resources.
-territorial limit in the sea is an issue of controversy in International law.

Government (vlada)
The government is a political and legal arrangement in the society.
-Without government (crowd of people and not state).
-the state expresses itself trough the government.
-State is abstract while the government is state’s concrete shape.
-it is a means by which the society is governed. (To je sredstvo kojim je uređeno društvo).
-collective life is impossible without a government (condition for any civilized life).
-the major function of the government is to maintain peace lawfully. (zakonito održavati mir)
The government acts trough three main organs: [Vlada djeluje kroz tri glavna tijela]

 Legislature. [zakonodavna]

 Executive. [izvršna]

 Judiciary. [pravosudna]

 -The legislature enacts laws/parliament.

-The executive implements them/chief of state and government.
-Judiciary adjudicates them/court, attorney.

-different forms of government [from one man rule to the rule by majority]
-In monarchy, the king rules.
-Dictatorship including militarism is the rule by Dictator.

Sovereignty (Suverenitet)
- no parallel authority in state, and free from foreign control.
-if no sovereignty, statehood is not achieved.
-It is attribute of state which distinguishes state as one association from other association . (To je atribut
države koji je izdvaja kao jedno društvo iz drugih društava).

ZAKLJUČAK [Main figures of the state]

-All four elements of state are indispensable to its existence.
-The state posses a geographically identifiable territory with a body of citizens.
-It has to have authority over all citizens and groups within its boundaries.

Territorial organization (teritorijalna organizacija)

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  Unitary states [unutarna država] f.ex. FRANCE

-A unitrary state is sometimes one with only a single, centralised, national tier of government.
[Unitarna država je ponekad sa samo jednom, 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.

 Federation [Federacija] f.ex. USA

-Federation is a union comprising a number of partially self-governing states or regions united by a

central "federal" government.
- the self-governing status of the component states is typically constitutionally entrenched and may
not be altered by a unilateral decision of the central government

 Confederation [Konfederacija] f.ex. Russia, UK, Swiss,

- permanent union of sovereign states for common action in relation to other 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.

[DEF] LAW (pravo)

-A rule of conduct or procedure established by custom, moral or authority or agreement.
-A code of principles based on morality, conscience, or nature.
-The body of rules and principles governing the affairs of a community and enforced by a political
authority; a legal system.
-A set of rules or principles dealing with a specific area of a legal system: tax law; criminal law,
constitutional law, civil law, business law, family law etc. [porezni zakon, kazneno pravo, ustavno
pravo, građansko pravo, poslovni pravo, obiteljsko pravo, itd.]

LEGAL FORMS OF COMPANY LAW: SOURCES OF LAW

- Legal system of Bosnia and Herzegovina and Business Law is prerequisite for some other economics
courses like: Banking, Insurance, Governance Finance, Securities etc. and for International Business
Law to which one is elective course. [bankarstvo, osiguranje, upravljanje finansija, vrijednosni papiri i sl.
Za međunarodno poslovno pravo je izborni predmet.]

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  1-st. & highest legal base for legislation in B&H is presented by the Constitution of B&H.

 2-nd base is joint legal regulations at the level of B&H.

 3-rd level is entities levels and this level is very important for the Subject Business Law.

-Following issues have been defined by B&H Constitution Act:

foreign policy, foreign-trade policy, customs policy, monetary policy, WAT, institutions financing and
paying of international commitments of B&H; emigration, refugees, asylum, carrying out of
international and inter-entities polices, joint and international communications establishing and
functioning, regulating of inter-entities transport and the air transport controlling, public
procurements, intelectual ownership (copyright and industrial property rights), free zones, foreign
direct investments, e-legislation, e-business, e-signature, e-governement, protection of consumers.
[vanjska politika, vanjska-trgovinska politika, carinska politika, monetarna politika, WAT, finansiranje
institucija i plaćanje međunarodnih obaveza BiH, emigracija, izbjeglice, azili, obavljanje međunarodne i
među-entititetske politike, uspostava i funkcioniranje zajedničkih i međunarodnih komunikacija,
reguliranje prometa između entiteta te promet i kontrolu zračnog prometa, javne nabavke,
intelektualno vlasništvo (autorska prava i prava industrijskog vlasništva), slobodne zone, izravna strana
ulaganja,
e-zakonodavstvo, e-poslovanje, e-potpis, e-Vladine organizacije, zaštita potrošača.]

State of Bosnia and Herzegovina, among which the most important sources are: (najvažniji izvori
zakona na nivou države BIH) - NIVO DRŽAVE!
-Law on Policy of Foreign Direct Investment in B&H (1998) [Zakon o politici stranih ulaganja u BiH],
-Law on Foreign Trade Policy (1998), [Zakon o vanjskotrgovinskoj politici]
-Law on Customs policy and Customs tariff (1998)[Zakon carinskoj politici i carinskoj tarifi]
-Law on Competition (2001), [Zakon o konkurenciji]
-Law on Concessions (2002), [Zakon o koncesijama]
-Law on Free Zones (2002), [Zakon o slobodnim zonama]
-Law on Industrial Property right in B&H (2002), [Zakon o pravu industrijskog vlasništva u BiH]
-Law on Copyright in B&H (2002), [Zakon o autorskom pravu u BiH]
-Law on Public Procurements in B&H (2004), [Zakon o javnim nabavkama u BiH]
-Law on Protection of Consumers in B&H (2005), [Zakon o zaštiti potrošača u BiH]
-Law on WAT (2006), [Zakon o WAT]
-Law on e-commerce (2008), [Zakon o e-poslovanju]
-Law on e-signature (2007), [Zakon o e-potpisu]

Law sources in the Federation of B&H are: (izvori zakona na novou F BiH) - ENTITETSKI NIVO!
-Law on Business Enterprises (1999, 2003 & 2008), [Zakon o privrednim preduzećima]
-Law on Foreign Investments (2001) & registration rules,[Zakon o stranim ulaganjima, pravila
registracije]
-Law on Securities (2008), [Zakon o vrijednosnim papirima]

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-Law on Securities Commission (1998), [Zakon o komisiji za vrijednosne papire]
-Law on Securities Register (1998), [Zakon o registru vrijednosnih papira]
-Law on Bankruptcy Procedure (2003), [Zakon o stečajnom postupku]
-Law on Liquidation Procedure (2003), [Zakon o postupku likvidacije]
-Law on Concessions (2002), [Zakon o koncesijama]
-Law and other regulations on legal entities registration in register (2000). [Zakoni i drugi propisi o
registraciji pravne osobe u registar]
-Law on Banking, [Zakon o bankama]
-Law on Insurance Company, [Zakon o osiguravajučim društvima]
-Law on Micro Credits Organizations, [Zakon o Mikrokreditnim organizacijama]
-Law on Private Investment Funds, [Zakon o privatnim investicijskim fondovima]
-Law on Public Enterprises. [Zakon o javnim preduzećima]

In the Federation B&H there are the Canton-level acts (NIVO KANTONA!) referring to
- improvement of the local business operations, [unapređenje lokalnih poslovnih operacija]
-exploitation of natural resources of the local character (concessions), [iskorištavanja prirodnih resursa
lokalnog karaktera (koncesije)]
-development of tourism and co-operative farming. [razvoj turizma i zadružnog uzgoja]
Law sources in Republika Srpska: (ENTITETSKI NIVO!)
-Law on Enterprises (1998, 2008) [Zakon o preduzećima]
-Law on Foreign Investments(2002) & registration rules,[Zakon o stranim ulaganjima i pravila
registracije]
-Law on Securities, Commission and Central Register (1998), [Zakon o vrijednosnim papirima, Komisija i
Središnji registar]
-Law on Bankruptcy Procedure (2003), [Zakon o stečajnom postupku]
-Law on Liquidation Procedure (2003), [Zakon o postupku likvidacije]
-Law on Concessions (2002), [Zakon o koncesijama]
-Law and other regulations on registration of enterprises in register (2000). [Zakoni i drugi propisi o
registraciji poduzeća u registar]
-Law on Banking, [Zakon o bankama]
-Law on Insurance Company, [Zakon o osiguravajučim društvima]
-Law on Micro Credits Organizations, [Zakon o Mikrokreditnim organizacijama]
-Law on Private Investment Funds, [Zakon o privatnim investicijskim fondovima]
-Law on Public Enterprises. [Zakon o javnim preduzećima]

*The rules by the Commissions and Register of Securities/Central Register (rule books, standards,
instructions) and the Securities Commission in the F B&H itself has brought 38 acts so far are very
important source.

*There are rules of the Stock Market in Sarajevo (SASE) and one in Banja Luka (BLSE) and self-organised
brokers.

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*The allowed autonomy level of the company members indicates that the company documents
-contract on founding and statute-are very important law sourcess. [Dopuštena razina autonomije
članova kompanije pokazuje da dokumenti kompanije -ugovor o osnivanju i o statutu su vrlo važni izvori
zakona]

EUROPEAN UNION LAW (Prava Europske unije)

European Union
-The European Union [EU] is an economic and political union of 27 member states, located primarily in
Europe comitted to regional integration.
- established formally by the Treaty of Maastricht on 1 November 1993, with almost 500 million citizens.
-The EU combined generates an estimated 30% share USD 18.4 trillion in 2008 of the nominal GDP-gross
domestic World product.
- not a federal state, not confederacy, not unitary state; this is specific union: custom union, political
union, economic union without borders, internal market, law union…sometimes classified as
supranational law making it one of the most encompassing modern legal systems in the world.

European Law
-Law of the European Union is the unique legal system which operates alongside the laws of Member
States of the EU.
-EU law has direct effect within the legal systems of its Member States, and overrides national law in
many areas, especially in areas covered by the Single Market.
- European Law is prerequisite for common activities of country members end sustain of common pillars
and foredooms.
-One of the features of the EU legal system is the multiplicity of legislative procedures used to enact
legislation.
-The treaties micro-manage the EU powers, indicating different ways of adopting legislation for different
policy areas and for different areas within the same policy areas.

Characteristics of EU
-Supranational and economic-political community
-27 member states “United in Diversity”
-500 million citizens
-Special position on non members of EU
-Single market
-23 official languages
-Common Official Gazette
-Customs union
-Monetary union
-Schengen Union
-Sui generis legal system and legal order

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-Sovereignity of the member states
-Other relations…

History
-May 9th 1950 Robert Schuman Declaration proposed the establishment of a European Coal and Steel
Community (ESCS).
-Treaty of Paris on March 25th 1951 signed by Germany, Italy, France, Belgium, Luxembourg and the
Netherlands -The Big Six.
-The aim was establishment of common market in coal and steel between The Big Six.
-March 25th 1957 Treaty of Rome– Economic European Community (EEC)-Constitution Act of EU “White
Book of EU”.
-Wider common market covering a whole range of goods and services and customs duties abolished on
July 1st 1968.
-Treaty of Maastricht-Treaty of European Union in December 1991 created the European Union and
common market.
-October 29th 2004 The Treaty establishing a Constitution for Europe commonly referred to as the
European Constitution.
-An international treaty intended to create a constitution for the European Union.
-It would have replaced the existing Treaties of the European Union with a single text if ratified by all
member states.
-2005 Referendum in The Netherland and France.
-December 12 th 2007 Treaty of Lisabon- so callled Reform Treaty.
-June 13 th 2008 referendum in Ireland.

Enlargement (proširenje)
- 1973 Denmark, United Kingdom and Ireland.
-1981 Greece.
-1986 Spain and Portugal.
-1995 Austria, Finland, Sweden.
-2004 the Czech Republic, Hungary, Poland, Slovakia, Estonia, Latvia, Lithuania, Slovenia, Cyprus &
Malta. -2007 Bulgaria and Romania.

Three Pillars of the European Union (Tri stupa Europske unije)

-Like the EU itself, EU law can be divided into three pillars.
-First of these, the European Community pillar, comprises the majority of law produced by the EU and is
where the European Court of Justice has the most power.
-The EU can also enact legislation under the second and third pillars-relating to foreign policy and
criminal law respectively-although the powers of the Court of Justice are much reduced and direct effect
does not apply.

 I. European Community (EC= EEC+EUROATOM+ECSC).

 II. Common Foreign and Security Policy.

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  III. Police and Judicial Co-operation in Criminal Matters (PJCC

Principles of the Single Market (Načela jedinstvenog tržišta)

- Four freedoms are:

 Free movement of goods (prohibition of custom duties, financial or any barriers having an
equivalent effect).

 Free movement of person.

 Free movement of capital.

 Free movement of services.

The Union Institutions

-The EU Parliament. [EU parlament]
-The Council of EU. [vijeće EU]
-The EU Commission. [EU komisija]
-The Court of Justice. [Sud pravde]
-The European Court of Human Rights. [Europski sud za ljudska prava]
-The Court of First Instance. [Prvostepeni sud]
-The Auditing Court. [Sud za reviziju]

The European Parliament (Evropski parlament)

- Election body that represents the EU’ s citizens and inhabitants.
-It exercises political supervision over the EU activities and takes part in the legislative process.
-Members are directly elected every five years.
-Not fixed seat–plenary sessions in Strasbourg, additional sessions in Brussels, the General Secretariat is
based in Strasbourg and Brussels.

The European Council (Evropsko vijeće)

- Composed by representativs at ministrial level.
-Meets four times a year.
-Chaired by a president or prime ministar of a country holding the presidency of the Council of the
European Union at the time.
-Political body which reflects the national interests of members states in legislative matters Council of
Europe.

The European Commission (Evropska komisija)

- Express the Community interest and promote further integration–clear supranational features.

12 | P a g e
-Composed of one commissioner from each member states.
-It has 46 directorates-general mainly based in Brussels and Luxembourg.

The European Commission has three functions:

-initiates Community legislation, [Inicira(pokreće) zakonodavstvo zajednice]
-acts as the guardian of the Treaties [djeluje kao čuvar ugovora]
-executive body of the Community. [izvršno tijelo Zajednic]

The European Court of Justice (Europski sud pravde)

- Located in Luxembourg.
-Made up of one judge of each EU country assisted by eight advocates-generals.
-Its role is to ensure that EU law complied with, and that the Treaties are correctly interpreted and
applied.
-Community law maker through interpretation of the Traeties and legal acts.
-The European Court of Justice is an institution of the European Union (EU) and should not be confused
with the European Court of Human Rights.
-This Court played a crucial part in the process of integration in EU, particularly by interpreting the treaty
basis of the Community, formally a species of international law, as internal law common to the member
states.

Court of First Instance (Prvostepeni sud)

-The judicial branch of the EU consists of the European Court of Justice and the Court of First Instance.
-Together they interpret and apply the treaties and the law of the EU.
-The Court of First Instance mainly deals with cases taken by individuals and companies directly before
the EU courts, and the ECJ primarily deals with cases taken by member states.

The European Court of Human Rights (Europski sud za ljudska prava)

- The European Court of Human Rights in Strasbourg is an international judicial body established under
the European Convention on Human Rights of 1950 to monitor respect of human rights by states.
-The European Convention on Human Rights is a convention adopted by the Council of Europe. All 47
member states of the Council of Europe are parties to the Convention.
-Applications against Contracting Parties for human rights violations can be brought before the Court by
other states, other parties or individuals

*Community Law–Acquis Communautaire (Stečena prava Zajednice)

-European laws are passed by the EU institutions through a number of procedures.
-The European Commission has a monopoly on legislative initiative.
-In such situation the Commission sends draft legislation to the Council of the EU and European
Parliament for amendments and approval.

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-The former body is composed of national government ministers and the latter by directly elected
politicians

The sources of EU law are:

1. Primary legislation
2. Secondary legislation - “Acts” brought by the Council and The Commission

The primary legislation are:

-The treaties creating the institutions-constitutive treaties – ECSC Treaty 1951, EEC Treaty 1957, Single
European Act 1986, Treaty of European Union 1992 (Maastricht Treaty), Treaty of Amsterdam 1997.
-Subsidiary tretaies-conventions.

Secondary legislation-“Acts” brought by the Council and The Commission are:

-Regulations, Directives, Recommendations, Opinions, Decisions, General principles of law.

Regulations (Propisi)
- A regulations are sets out general rules which apply uniformly throughout the EU and binding and
directly applicable in national legal systems.
-It takes effect without further enactment– automatically incorporated into national law.
-It may be relied upon by individuals before the national courts.
-These are instruments of unification of laws.

Directive (Direktiva)
- A directive may be addressed to some or all the memeber states and it is binding as to result to be
achieved.
-A member state has a discretion as to the means of implementation and in general is not directly
applicable.

-It requires implementation to be legally effective and these are instrument of harmonisation of laws.

Decisions (Odluke)
- A decision of the Council or Commission is an individual act addressed to specified persons, either
states or individuals.
-It is legally binding and it requires no further implementation.
-Decision of the ECJ are binding and it is a role of the European Court of Justice in developing the EU
legal system.

Recommendations and Opinions (Preporuke i mišljenja)

- They are not legally binding, altough persuasive.
-They are not devoid of legal significance.
-EU members countries have a duty to respect “messages” of recomandations and opinions.

14 | P a g e
*General Principles of EU Law (opća načela EU zakona)
They may be invoked to interpret EU law and these are independent and important source of law:
-Fundamental rights, Proportionality, Equality, Legal certainty [sigurnosti], Procedural rights.
*Direct Effect and Direct Applicability of EU Law (Izravni učinak i izravna primjenjivost EU zakona)
-Supremacy of EC law-precedence over national law.
-Direct applicability–provisions which take effect in the legal systems of the member states without the
need for further enactment.
-Direct effect–provisions which give rise to rights or obligations on which individuals may rely before
their national courts.

Fundamental concepts about state and law [temeljni koncepti države i prava]

Legal form (elements) [pravna norma - elementi]

-defines relations in society so that changes in these relations set up boundaries [definira odnose u
društvu, tako da promjene u tim odnosima postavljaju granice]
-is a social norm too that regulate relations in society where is possibility of misunderstanding and
conflict
-is written and regularly includes sanctions [u pisanoj su formi i često uključuju i sankcije]
-is consisting of two main parts:
disposition and sanction [dispozicija i sankcija]
-some legal norms have two more elements:
hypothesis of disposition and hypothesis of sanction [hipoteza dispozicije / sankcije]
-There is a formula of a legal form:
LN=(HD)+D+(HS)+S

Hypothesis of disposition – is part of the norm that defines the factual situation, or facts that must exist
in order for disposition, the main part of the norm to be applicable [je dio norme koji definira činjenično
stanje, ili činjenice koje moraju postojati za dispoziciju]

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 ponašanja (dio pravne
norme) i obveze za izvođenje date akcije može se sastojati od djelovanja ili ne-djelovanja]

Hypothesis of sanction – consist of the description of the violation of disputation or offence. It’s the
description of action that represents violations of disposition. [to je opis akcije koja predstavlja kršenje
dispozicije.]

Sanction – is part of legal norm that contain a rule of conduct by the subject who has violated the
disposition, and by a state organ authorized to exercise an appropriate measure toward the violator. [je
dio pravne norme koje sadrži pravilo ponašanja koje subjekt koji je prekršio dispoziciju, a državni organi
su ovlašteni da koriste odgovarajuće mjere prema prekršitelju]

Legal norms by subject and scope of regulation [Pravne norme po predmetu i opsegu regulacije]
- general and individual – by number of case that regulate
General norms – are those that pertain to an indefinite number of subjects of an accurately defined kind
of relationship [opće norme]

15 | P a g e
Individual legal norms – are those addressed precisely to the named as the subject of particular
relationship [individualne norme]
- civil-law, criminal-law, administrative, constitutional, … – by the area of social life they regulate
Civil-law – regulate civil-law relations (actions, property …)
Criminal-law – regulate criminal-law relations …
- substantive-law norms and procedural-law norms
Substantive-law norms – are the norms that regulate relations among people, subject of law.
Procedural-law (or formula) norms – regulate conduct of the subjects that ought to execute the legal
norm, primarily state authorities (court..)

Legal norms by the degree of disposition specification [Pravne norme po stepenu dispozicije]

Cogent(strict) legal norm – norm where the subject is bound to behave strictly in accordance with the
norm, and always under the threat of sanction (this norms is also called absolutely specific and
categorical legal norms) [uvjerljive (stroge) pravne norme]

Alternative norms – a subject has freedom to chose one of the few conduct s provided for the
disposition. [alternativne norme]

Dispositive norms - are those that leave subject full freedom to regulate mutual relations as long as this
freedom in within the legal order framework (this forms are also called alternating / replaceable legal
norms. [despozitivne norme]

Discretionary legal norms – leave the subject to execute the norms (state authorities) the freedom to
act in the way they deem the best in an actual case. These are the norms that give discretionary
authority to a state organ. [diskrecijske pravne norme]

Flexible legal norms – are issued for situations where it is not possible to categorically set a rule of
conduct, due to a series of various actual circumstances. [fleksibilne pravne norme]

Elements of the system of law are:

Legal norm, legal institution, branch of law and field of law
[pravna norma, pravni institucija, “grana” prava i pravno polje]
Legal norm – is fundamental element of system of law
Legal institution – is harmonized and organized set of legal rules that encompass and regulate a single
social relationship (marriage, ownership, family-law)
Field law is created by grouping of related branches of law
- 6 major fields of law:
- substantive and procedural, public and private, national and international law
[materijalno i proceduralno, javno i privatno, nacionalno i međunarodno pravo]

General Legal documents [opći pravni dokumenti]

-regulate social relation in coherent way.
-include general legal norms
-include: constitution, act, bylaws, general documents of social organizations, customary law and
court decision with capacity of precedent

16 | P a g e
[ustav, čin (zakon?), podzakonski akt, opć akti društvenih organizacija, običajno pravu, te sudske odluke
s kapacitetom presedan]

Constitution – is the highest legal document in a state and the highest fundamental law in a state.
-is legal and political document
-written and unwritten
-written constitution implies a set of norms in writing that regulate state organization
-unwritten constitution is system of constitutional customs that exist in a given country that regulate
basic issues of state organization (UK, Saudi Arabia, Israel)
-structure of constitution: preamble, normative part, annexes and amendments
-preamble – in introductory part of a constitution
-normative part – include provision on human and citizen rights and freedoms
-annexes – are parts that make separate part due to their specificity
-amendment – is a way of changing a constitution

Act – is a general legal document of highest legal force following the constitution
Bylaws – are general legal documents typically passed by political-executive and administrative bodies
General documents of non-state organizations - include rules of various social organizations based on
which they are constituted as organizations and legal persons (statutes, rulebooks of employment..)
Custom - becomes a source of law due to long-lasting identical conduct (objective element) if there
exists a legal conviction of mandatory nature(subjective element)
Court ruling – is an individual legal document, which means that it contains an individual legal norm
pertaining the actual case. (Court rulings with capacity of precedent are also general legal documents)

Individual legal documents [individualni pravni dokumenti]

-mostly imply the concretization of a general document.
-incomplete individual legal document – if contain only the disposition or only sanction
-complete individual legal document – if contain both

Biding document of state authority or organization executing public authorities, passed in separate
administrative procedure is an administrative document

Legal transaction in an individual legal document of non-state subject passed by subject based on the
authorization in the legal order and within it, and which is binding based on this fact

A court document is an individual legal document passed by specialized court organs in a separate court
proceeding
-all decisions are procedural

Subject and object of law

Legal subjects [pravni subjekti]
-include people and social formations that have legal obligations and legal authorities with respect ot
legal object.
-is primarily a human individual (not always)
-human individual is natural person [fizičko lice]
-social formations reorganized a legal subjectivity by legal system are legal persons [pravno lice]
-child acquires legal capacity as soon as it is born
Natural person (subject of law) [fizička lica]

17 | P a g e
-each person become subject of law at birth (LS B&H)
-all natural persons are equal in their rights (article 2 of the Constitution of B&H)
-must possess attributes: name, abode and residence, citizenship, ID…
*For legal capacity (natural person) is necessary:
-to be born alive
-should have a human shape
*Business capacity – persons with 15 years have working capacity
-Full capacity - with 18 years (LS B&H) or if minor marries before, 21 year (Anglo-American)
-there is 3 degree of business capacity:
full business capacity, limited business capacity and business incapacity
-Full business capacity – is capacity of majors, or married minors
-Limited business capacity – can make legal deals (with approval of parents)
-Business incapacity – cannot make legal deals (legal representatives make deals on their behalf
*Offence capacity – to be liable for his illegal actions
-at age of 7
-minors with 14 years have full offence capacity
Legal persons (subject of law) [pravna lica]
-is a social formation with a legal capacity recognized by legal system
-is created by establishment, and ceases with deletion from proper registry where his status data are
kept
Elements needed for legal person capacity of organization:
1) that there is a firm and single legal organization
2) that such an organization has a goal
3) that has independence and it own existence
4) that has its own assets
-must possess attributes: name, residence or head office, citizenship or membership
-have special legal capacity as opposed to natural persons
-has been founded in order to achieve a defined goal
*Business capacity - at the moment of their establishment
*Offence capacity - at the moment of their establishment

Fundamental Of Law Of Obligations [temelji obligacionog prava]

Obligation may imply relationship between at least two persons
-one persons is authorized to require, other to do or not to do something
-in object sense law of obligations is a set of legal norms regulating obligation relations [u objektivnom
smislu obligaciono pravo je skup pravnih normi kojima se reguliraju obligacioni odnosi]
-in the subject sense, law of obligation is given person’s (creditor’s) authorization or right to require
given conduct from another person (debtor) [u subjektivnom smislu, obligaciono pravo daje osobi
(kreditoru) odobrenje ili pravo da zahtijevaju “dato” od druge osobe (dužnika)]
*creditor – kreditor, debtor - dužnik

Obligation action – is the conduct by participants in the obligation relationship required for the
obligation to be fulfilled [Obligaciona akcija - je ponašanje od strane sudionika u vezi obveza koje
potrebno ispuniti]
Obligation action can consist of:
- Giving (dare)
- Acting (facere)

18 | P a g e
 - Non-acting (non-facere)

Types of obligations
- Obligations by kinds of action [Obveze po vrstama djelovanja]
- Obligations according to the way of determining the obligation action [Obveze prema načinu
utvrđivanja obligacionih akcija]

Obligations by kinds of action [Obveze po vrstama djelovanja]

- strictly personal - if it is only the debtor and no one else that is bound to perform the action
- non-personal – the action can be performed by someone else for the debtor
- momentary – given obligation can be performed in short time period
- permanent – if last longer
- divisible – obligation can be fulfilled in two or more parts
- indivisible – obligations that need to be fully fulfilled since division will decrease it value
- simple – obligation can be fulfilled by one single action
- complex – consist of few actions
- pecuniary – debtor is bound to give creditor money, a thing or to do or not to do something
- non-pecuniary – debtor is bound to not give creditor money

[strictly personal/non-personal – strogo lična, nije privatna];

[momentary/permanent – momentalna/trajna];
[divisible/indivisible – djeljiva/nedjeljiva];
[simple/complex – jednostavna/složena];
[pecuniary /non-pecuniary – materijalana/ne materijalna]

Obligations according to the way of determining the obligation action [Obveze prema načinu
utvrđivanja obligacionih akcija]
- special or individual – is the one when the action the debtor is bound to take is known
- generic - (opposed to individual ones) – object of obligation is not clearly determined
- alternative – when obligation include two or more actions debtor is bound to take only one
- facultative – a object of obligation is clearly determined action, debtor can be authorized to
fulfilled the obligation by taking another, also clearly determined action
- natural – obligations non legally protected

[special or individual - Posebne i pojedinačne]

[generic - “rod?”]
[alternative – “izbor”]
[facultative – fakultativne]
[natural – prirodne]

Subject of obligation-law relations [subjekt obligacionih odnosa]

19 | P a g e
-subject in obligation relationship can include legal and natural person
-one subject is holder of right (creditor), another is holder of obligations (debtor)
Plurality of subject obligations – an obligation involves few creditors and few debtors
-when obligations is divisible – creditor is authorized to require only its part of the calm, and
each debtor owes only its part of a debt and that is DISTRIBUTED or COMMON OBLIGATION
[kada se obaveza može podijeliti – kreditor je ovlašten da traži samo svoj dio, te svaki dužnik
vraća svoj dio][DISTRIBUTED, COMMON OBLIGATION - Distribuirana ili zajednička obaveza]

-in case of plurality of subjects in a single obligation – co-debtors are bound to perform an entire
action, while all the co-creditors are authorized to require the entire action. These are
SOLIDARY OBLIGATIONS [u slučaju pluraliteta subjekata u jedno obavezi - sudužnici su dužni
obaviti cijelu “akciju”, dok su svi do-kreditori ovlašteni da zahtijevaju cijele “akcije”][SOLIDARY
OBLIGATIONS - Solidarne obaveze]

Change of subject in the obligation – in a case of strictly personal relations (stupe u brak)
- cession of calm - if an obligation experience a change on the creditor’s side
- taking over a debt (assumption) – if the subject is changed on the passive, debtor’s side

Cession – is transaction whereby the previous creditor transfer his claim to his co-contractor, a new
creditor , while both the debtor and debt remain the same. [je transakcija gdje prethodni kreditor
prenosi svoju “tvrdnju” njegovom do-kreditoru tj. novom kreditoru, a dužnik i dug ostaju isti]

Assumption of debt – is name for a transaction where a debt can be taken over in full, so that the
debtor is fully exempt from the obligations [je naziv za transakciju, gdje se dug može preuzeti u cijelosti,
tako da je dužnik u potpunosti oslobođen obveze]

Sources of obligations [izvori obaveza]

-are legal facts and conditions that form the basis of obligations are sources of obligations. [pravne
činjenice i uvjeti – izvori obligacionog prava]

- contracts - is the most frequent source of obligation include legal transaction in general. [ugovori]

-Unilateral civil-law transactions –are those wherein the obligation as a bilateral legal relation arises by
expression of will by one person (for ex. beauty contest, the selection of the best architectural design..)
[jednostrani građansko-pravni odnosi]

-Causing damage or civil offence - is a source of obligation in the way that person caused the damage to
another person through an unlawful action bound to indemnify the latter for damage, unless he proves
that the damage occurred with no fault of his. [nanošenje štete ili civilni prekršaj]

a) Fault liability - is liability based on subject liability. The point is that perpetrator of harmful
action was aware or had to be aware that he would cause damage to second person by such
action. B&H LS adopted the system of assumed culpability (intention) [odgovornosti krivnje]

20 | P a g e
 b) Strict liability – is object liability. In this form of liability the culpability of the perpetrator
causing the damage is not essential element, and one is liable for the damage by the very fact of
damage occurrence (cars, gas, petrol or construction site…) [objektivne odgovornosti]

-Damage – is decrease in social resources, or someone’s property, and prevention of their increase as
well as causing physical or psychological pain or fear to another person [šteta]
-Unjust enrichment or acquisition without foundations – as a source of obligation creates the
obligation to return what was received without foundations. [Nepravedno bogaćenje i stjecanje bez
osnove]
-“management of another’s affair” (management without mandate ) – if someone takes action in
good faith in another person’s interest, and without the letter’s authorization. [“upravljanje bez
mandata”]

Cassation of obligation [prestanak obaveza]

1) Fulfillment - implies the proper performance of the action that was the object of the debtor’s
obligation. [ispunjenje]
2) Impossibility – result in the impossibility to fulfill the obligations and the debtor cannot be
blamed for it. [nemogućnost]
3) Compensation – both have debt to each other. The balance shell paid by party whose debt is
higher. [kompenzacija/naknada]
4) Novation – an agreement between the obligation subjects aimed at replacing the existing
obligation with a new one. [???]
5) Confusion – if an obligation, the creditor and debtor consolidate into a single person.
[zbunjenost]
6) Waiver of debt – the agreement between the creditor and debtor on waiver of debtor’s
obligation. [odricanje od duga]
7) Lapse of time – leads to cassation of the permanent obligation. [odmicanje vremena]
8) Cancellation – is one of the ways of cessation of permanent obligation relation, based on a
unilateral expression of will by one obligation subject. [otkazivanje]
9) Death – of one obligation subject does not result in the cassation of obligation, rights and
obligations pass on successors. [smrt]
Effect of time on legal relations [uticaj vremena na pravne odnose]
-time can affect in two ways: destructively and constructively [destruktivno i konstruktivno]
Limitation – is the loss of claim due to non-fulfillment of content of subjective right through a time
period defined by law. [ograničenje]
-it is a destructive effect of time on legal relations
-time period for limitations are provided for by law, and subjects cannot shorten or prolong it.
-some circumstances lead to the end of limitation (for ex. Force majeure) [viša sila]

Participation – is concept opposite to limitation. When the legal determined time has expired, a given
factual relations turns into a legal (legally protected relation). [sudjelovanje]

Preclusion (or preclusive time period) – is time the time within which a right has to be exercised in
order to be preserved [isključenje]

21 | P a g e
Labour law [radnička prava]

Sources of Labour law [izvori]

- are all the general documents or a legal character that appear as sources of other branches of law as
well
-cannot be determined for all times and for all legal systems
-can be classified by the following groups:
1.) state regulations [državni propisi]
2.) collective agreements [kolektivni ugovori]
3.) general employer's documents – sources of autonomous law [opći dokumenti poslodavca -
autonomni izvori prava]
4.) international sources of labour law [međunarodni izvori prava radnika]
5.) customary law [obicaji]
6.) court practice [sudska praksa]

Employer – is natural or legal person that provides a job to the employee based on a employment
contract [Poslodavac - je fizička ili pravna osoba koja nudi posao da zaposleniku na temelju ugovora o
radu]
Employee - is a natural person whose employment is based on a employment contract [Zaposlenik - je
fizička osoba čiji je radni odnos na temelju ugovora o radu]
Employment – is formation of an employment contract between an employer and employee
[Zapošljavanje - je formiranje ugovora o radu između poslodavca i zaposlenika]

The essential elements of employment are:

voluntariness; personal, labour-law and functional bond; inclusion in the work process; and
the exercise of rights and obligations in the workplace
[dobrovoljnosti; osobne, obaveze prema pravu radnika i funkcionalne obaveze; uključivanje u
proces rada, te ostvarivanje prava i obveza na radnom mjestu]

Voluntariness
-the principle of voluntariness implies the right to the choice of occupation, and both subjects freely
decide upon whether and which subject will form an employment relation

Personal, labour-law and functional bond

-employment is a specifically personal relation
-employee has obligations to perform the jobs and tasks with his position (from start, till end)
-cannot transfer his obligations to another person

Inclusion in the work process

-should be done in the way and under the conditions determined in the document on employment

Exercise of rights and obligations in the workplace

-employment –related rights and obligations determine the position of the parties in the employment:
employer and employee

22 | P a g e
-employer’s basic right is to determine the place, conditions and way of performing the work, complying
with regulations and employee’s rights

-they shouldn’t be any discrimination duo to his race, sex, language...

Collective agreement – rules of employment or employment contract [Kolektivni ugovor]
Employment contract [ugovor o radu]
-can be formed for an indefinite and definite time period
-can be in written or oral form
-includes data (written): name and office of employer, full name, residence …
-cannot be formed with
person younger than 15 years of age
person between 15 and 18 (with permission of parents, and with certificate from an authorized
physician or relevant healthcare institution)
-employer is bound to render the employee capable of work in the way that ensures the protection of
the employee’s life and health, and prevents the occurrence the accidents

An employment contract ceases [prestaje]

1) Employee’s death
2) By agreement between the employer and employee
3) Employee reaches 65 years of age and 20 years of employment insurance
4) By valid decision of the less of working capability
5) By employer’s or employee’s notice
6) Expiration of defined time (by contract)
7) Employee received a prison sentence (more than 3 months)
8) Employee becomes the subject of a security measure
9) By decision of relevant court (of cassation)

Work record – has employee and it is public document [radnički dosije]

Contract for the performing temporary and occasionally jobs (if)

- temporary and occasionally jobs are determined in collective agreement or in employment rules
- temporary and occasionally jobs are not longer than 60 days during the calendar year

23 | P a g e
[DEF] Companies Law (Poslovno pravo) – nisam siguran za tačan prevod!
-Companies law is an independent legal discipline which studies the legal regime of companies, both the
general legal regime and the legal regime of each individual company. [Poslovno pravo je samostalna
pravna disciplina koja proučava pravni režim kompanija, tj. opći pravni režim (generalno pravni režim)
kao i pravni režim svake pojedinekompanije.]

-This separate legal discipline is distinguished from the business law, due to the complexity of subject
matter being studied, independent sources of law, as well as an increasing degree of specialization and
the need for a separate study of individual legal institutions. [Ova odvojena pravna disciplina se razlikuje
od poslovnog prava, zbog složenosti predmeta kojeg proučava, nezavisnih izvora prava, kao i većeg
stepen specijalizacije i potrebe za odvojenim proučavanjem pojedinih pravnih ustanova.]

Subject of Law: (Subjekti prava)

 natural persons [fizička lica]

 legal entities [pravna lica]

 profitable entites – companies [profitabilna - kompanije]

 corporation [korporacije]

 partnership [partnerstva]

 non-profitable entities [neprofitabilna]

 NGO [nevladina]

 Endowment [zadužbina, vakufnina]

 Special types of legal entities [Posebne vrste pravnih lica]

 B&H, Entities, Cantons, municipalities [BiH, entiteti, kantoni, općine]

Companies are classified into: [Kompanije se klasificiraju na:]

 corporation [korporacije]
-joint-stock company [dioničko društvo]
-limited-liability company [društvo neograničene solidarnosti]

 partnerships [partnerstva]
-unlimited solidarity liability company or general partnership [društvo ne ogran. solid. odg.]
-limited partnership [komanditno društvo] (which can be an “ordinary” limited partnership
and limited stock partnership, if its subscribed capital is distributed to shares.)

*classification by the Act on Companies in the F B&H. [Zakonu o privrednim društvima u Federaciji BiH.]

24 | P a g e
-Classification of business - traditional one. [poslovanje i korporacije i partnerstva je tradicionalno]
In Corporations - ownership interests or elements. [Korporacije - istaknuti vlasniči interesi ili elementi.]
-Profit making is the essential goal [Profit je bitan cilj]
-difference partnerships from corporations is in the regime of liability for obligations in legal and
business operations. [Osnovna razlika između partnerstva iz korporacije je u režimu odgovornosti
obveza u pravnim i poslovnim operacijama.]
-in RS the name for joint-stock company is „akcionasko društvo“
-establisher can be: legal and/ or natural and foreign persons
-the minimum equity needed is defined by Law

The term share (stock): [dionica]

-it is part of a company’s equity, [to je dio kapitala kompanije]
-a set of rights and obligations related to the membership in a company [set prava i obveza vezanih za
članstvo u poduzeću]
-a security, i.e. electronic record that incorporates defined management and property rights. [sigurnost,
odnosno električni zapis koji uključuje definsano upravljanje i imovinska prava.

Share- is a long-term investment instrument the economic function of which is capital accumulation.
[Dionica je instrument dugoročne investicije ekonomske funkcije koja je akumulacija kapitala.]
-establish a membership (shareholding) relation between a company and a permanent investor[Dionički
služi za uspostavu članstvo (dionički) odnos između tvrtke i stalni investitor]
-which includes property-right and management relations [koji uključuje imovinu, prava i upravljanje
odnosima]
*joint-stock company’s equity is divided into shares (Art. 107 of ZOPD),
-sum of par values of all the company shares its equity [zbroj par vrijed. svih dionica jednako kapitalu]
-Par value of a share cannot be less than 10,00 KM (Art. 127 of ZPD).

The Law on Commercial Companies of the Republic of Croatia classifies trading companies by:
-public trading company [javno trgovačko društvo]
-limited partnership [komanditno društvo,]
-secret company [tajno društvo,]
-joint-stock company [dioničko društvo,]
-limited-liability company [društvo s ograničenom odgovornošću]
-business interest association [poslovne interese udruge]

Public enterprises - are a separate form of organization. [javna preduzeća]

-form of business organization in ownership of which is dominated state capital.
-capital owned by a state organizational form.
-The organizational and level of state organization depend on community level and community
organization. [Organizacijski i razina državne organizacije ovise o razini zajednice i društvene
organizacije]

25 | P a g e
Companies in the European Union law (Kompanije u pravu Europske unije)
Within the European Union community law the following profitable forms of business organization can
be recognized:
-European economic interest group-EEIG [Europska ekonomska interesna grupa]
-European company or European enterprise (Societies European) [Europske kompanije ili Europska
poduzeća]

Non-profitable forms of organization include:

-European cooperative society [Europska zadruga]
-European insurance company [Europsko osiguravajuće društvo]
-European association [Europsko udruženje]

Directives of the EU Committee oblige member countries to adopt them in their legal system
unreservedly. [Direktive EU obavezuju odbore zemalja članica da ih usvoje u svoj pravni sistem
potpuno]

The harmonized European supranational law excludes the implementation the national law which is
opposed to this community law. [Europsko pravo isključuje primjenu nacionalnog prava koje je u
suprotnosti s ovim zakonom Zajednice]

-This subject matter is regulated by eleven Directives.

-most of them pertain to joint-stock company operations.

The directives regulate following:

-protection of shareholders’ and third parties’ interest [zaštita dioničara i interesa trećih osoba]
-formation and elements of a joint-stock company statute [formiranje i elementi statuta dioničkog
društva]
-changes in subscribed capital and merging shares [promjena upisanog kapitala i spajanja dionica]
-content and publishing of business reports [sadržaj i objavljivanje izvještaja o poslovanju]
-liability of joint-stock company organs [obaveza organa dioničkog društva]
-status change of joint-stock company merger [promja statusa spojenog dioničkog društva]
-preparation of consolidated balance sheets [sastavljanje konsolidiranih bilanci]
-auditor appointment [imenovanje revizora]
-mandatory data that have to be published by branches [obvezni podaci koji moraju biti objavljeni po
ograncima]
-issues pertaining to operations and establishment of single-member companies [pitanja koja se odnose
na osnivanje i poslovanje pojedinih kompanija-članica]

Other occurrences of the European company would be: [Ostale pojave europskih kompanija biti:]
-formation of a holding company in the form of limited-liability company [formiranje holdinga u obliku
društva ograničene odgovornosti]
-creation of a joint subsidiary by the already existing limited-liability companies [stvaranje zajedničke
podružnice za već postojeća društva ograničene odgovornosti (dva su u pitanju)]
-conversion of the existing companies into a European Company [pretvaranje postojećih poduzeća u

26 | P a g e
europske tvrtke]
-giving permissions to the existing European Companies’ subsidiaries to establish new subsidiaries
[davanje dozvole postojećoj “kćer Evropskoj kompaniji” za uspostavu nove podružnice]

European economic interest grouping-EEIG- is a form of interest-based association aimed at the mutual
association of the already existing companies.
Founders -natural and legal persons governed by both private and public law.
-legal persons (as founders)-registered office on the territory of a EU member country
-natural persons (as founders)- involved in a form of industrial, craft, commercial or agricultural activity.

-Memorandum of association is a contract [Memorandum udruženja je ugovor]

-Registration confers full business capacity on the grouping throughout the European Union
[Registracijom stiće se puna poslovna sposobnost na grupirsanje širom Europske unije]
-Rule on EEIG of 1989 not determine minimum capital [ne određuje iznos minimalnog kapitala]
-Goal of grouping is not profit making! [Cilj uspostave grupiranje nije profit]
-but only the members’ cooperation within the agreed fields of their common economic activities.

Grouping organs are:

-members’ assembly and a manager or managers - depending on the regulation by the memorandum of
association. [u zavisnosti od memoranduma udruženja]
A special case is company organization according to special regulations, laws that have to be considered
as lex specialis [Poseban slučaj je organizacija poduzeća u skladu s posebnim propisima, zakonima koji se
moraju uzeti u obzir (kao lex specialis)]
-However, regardless of the lex specialis existence, these forms also have to be organized in one of the
four or two listed forms, respectively [Međutim, bez obzira na postojanje lex specialis, ti oblici moraju
također biti organizirani u jednom od četiri ili dva navedena oblik]
-lex specialis do not recognize organization in the form of partnerships, only corporations! [lex specialis
ne prepoznaju mogućnosti organizacije u obliku partnerstva, isključivo korporacije]

-This applies to deposit-taking organizations–commercial banks, insurance industry & investment funds.
[Odnosi na ogranizacije koje uzimaju depozit komercijalnih banaka, osiguranja i investicijskih fondova]
-Lex specialis prescribed in form of joint-stock companies and they are subject to special legal
regulations. [ Lex specialis propisuje obavezan oblik njihove organizacije u obliku dioničkih društava, te ti
oblici organizacije podliježu posebnim zakonskim propisima]

-These specialized forms would include all the forms of organizations subject to one of the lex specialis
[Ti specijalni oblici će uključiti sve oblike organizacija koje podliježu jednom od ”specijalnim zakonu” ]

These are:
commercial banks [komercijalne banke]
micro-credit organizations [mikro-kreditne organizacije]
insurance companies [društva za osiguranje]
investment funds [investicijski fondovi]

27 | P a g e
stock exchanges [berza]
public enterprises [javna poduzeća]

Branch of business society [Podružnice poslovnih društava]

-business society can have branches outside its seat [produžnica van sjedišta firme]
-don’t have the capacity of legal person but that can perform all the activities within the society activity
entered in register and thus acquire rights and obligations in the name and on behalf of the business
society [poslovne jedinice koje nemaju kapacitet za pravne osobe, ali da mogu obavljati sve djelatnosti u
okviru djelatnosti društva upisana u registar i na taj način stjecati prava i obveze u ime i na ime
poslovanja društva]
-Branches are registered with the registration court where the business society itself in registered with
the company register [poslovne jedinice su registrirane kod suda gdje je registrovano poslovanje samog
društva u registrirano]
- doesn’t have the capacity of legal person [ovaj dio poduzeća nema kapacitete pravnog lica]

Depending on the type of activity, following names can be found:

-branch for commercial banks [granu za komercijalne banke]
-plant [postrojenja]
-business unit [poslovne jedinice]
-business object number [broj poslovnog objekta]
-department [odjel]
-outlet [ ]

*Branch name can also be determined by a separate legal document [Naziv poslovnice može se odrediti
posebnim pravnim dokumentima.]
-For Ex of this is Law on Banks, Law on Insurance Companies etc.

Parent company and subsidiary company [matične kompanije i podružnica kompanije]

-ZOPD regulates issues of establishment and operations of controlled or dependent companies-
subsidiaries in a special way [ZOPD uređuje pitanja osnivanja i poslovanja podružnice na poseban način]
-subsidiary is defined as a company where another company has the majority of voting shares!
[podružnica je definirana kao kompanija u kojoj druga kompaniji ima većinu dionica s pravom glasa]

*Forms of company associations in comparative legal systems [Oblici udruženja poduzeća u

komparativnim pravnim sistemima]
German legislation thus recognizes following: [Njemački zakon tako prepoznaje sljedeće:]
-konzern [Konzern]
-legally independent enterprises [pravno nezavisnih poduzeća]
-subsidiary and parent companies [djete kompanija i roditelj kompanija]
-joint-stock enterprises [dioničko društvo]
-enterprises managed based on a separate entrepreneurial contract, which can have various forms, from
managing boards, lease contracts, contracts on the transfer of profit, etc. [poduzeća upravljaju na

28 | P a g e
temelju posebnog ugovora, koji mogu imati različite oblike, od upravnih odbora, ugovore o zakupu,
ugovor o prijenosu dobiti…]

*English law recognizes

-concepts of a holding, or parent company, and subsidiary company
-conditions are prescribed when a company is to be considered a subsidiary or a holding company
[Uvjeti su propisani kada se kompanija smatra podređenom kompanijom ili holding-om]

-for the holding to be a shareholder in the subsidiary and to control the composition of its management,
for the holding to own over 50% of the subsidiary’s equity,

-when a subsidiary is in the same time a subsidiary of a company that is already of a third company’s
subsidiary–the so-called sub-subsidiary or the subsidiary’s subsidiary.

*French Act on Commercial Companies [Prema francuskom Zakonu o trgovačkim društvima]

-parent company exists when a company, directly or indirectly through other companies, holds part of
capital which suffices to allow it the majority of votes in the assembly, or when it has majority of votes in
the subsidiary’s assembly based on a separate agreement signed with other members or shareholders.
[Nadređena tvrtka postoji kada poduzeće, izravno ili neizravno preko drugih kompanija, drži dio kapitala
kojim bi se omogućilo dovoljna većina glasova u Skupštini, odnosno ako ima većinu glasova u podružnici
u skupština na temelju posebnog ugovora potpisanog s ostalim članovima ili dioničara]

- Holding is such a form of association among a few companies where the factual control over the
controlled companies is achieved by virtue of owning ordinary shares, as well as multiple-vote shares.
[Holding je takav oblik udruživanja između nekoliko tvrtki u kojima se postiže željena kontrola nad
poduzećem na temelju posjedovanja redovnih dionica, kao i višestrukog glasanja dioničara]

*The U.S.A. law recognizes the legal construct of ‘trust’

-Trust is created by gaining control over other companies, by means of gaining control over subsidiaries’
shares. [Povjerenje se kreira kontrolom nad drugim kompanija, putem stjecanja kontrole nad dionicama
podređene kompanije]
-control can be achieved by buying shares or taking them over through status changes of mergers or
take over without establishing a new company. [Kontrola se može postići kupnjom ili preuzimanjem
dionica putem statusnih promjena (spajanja ili preuzimanja) bez osnivanju nove kompanije]

-‘consortium’(special form of contractual association of companies) which implies association aimed at

carrying out a given business venture. [Poseban oblik ugovornog udruživanja kompanija je “konzorcij",
što implicira udrugu s ciljem obavljanja datog poslovnog poduhvata]
Association is achieved based on the contractual law, without forming a new legal subject [Udruga se
ostvaruje na temelju ugovornog prava, bez formiranja novog pravnog subjekta]

A joint venture
-is a kind of joint undertaking resulting from the U.S.A business practice
-The U.S.A legal system used to include a ban for companies to form partnerships [pravni sistem SAD se
koristi izdavanjem zabranama za kompanije u obliku partnerstva]

29 | P a g e
-In order to evade this ban, a legal and business construct called joint venture was created, which is also
widespread in the continental legal regime.
-there is also a contractual joint venture, which does not include the formation and registration of a new
company but which rather regulates mutual relations on a contractual basis [tu je i ugovorni joint
venture, koji ne uključuje formiranje i registraciju novog poduzeća, već uređuje međusobne odnosi na
ugovornoj osnovi]

In the continental law, consortium is organized in a different ways.

-most cases, it is organized based on contractual law norms and, as a rule, it is an unnamed contract of
business law [većini slučajeva, ‘consortium’ je organiziran na temelju ugovornog prava i norme, kao
pravilo, to je neimenovani ugovor u poslovnom pravu]

Joint-stock company organs (organi dioničkog društva)

-General meeting [Generalni sastanak]
-Supervisory board [Nadzorni odbor]
-Management (board) [Menadžment]
-Secretary [Sekretar]
-Audit board [Odbor za reviziju]

1. General meeting [Generalni sastanak]

-it consists of shareholders
-chaired by Chairperson
-the chair person and other members of supervisory board, director, members of the
management attend the general meeting
-is held at least once a year
-is asked & set up by supervisory board
-request for general meeting can by submitted by:
1. shareholder or group with over 10% of the total number of voting share
2. a member of supervisory board
3. audit board
-decisions on general meeting pass with more than 50% of voting shares
The share holders decides upon:
1. increase or decrease of equality
2. issue of new shares of the same class
3. issue of new shares of a new class
4. financial statement by auditor, supervisory board
5. distribution of profit and dividend payments
6. way of covering losses
7. merger with other enterprises..
8. split and cassation of joint-stock companies
9. changes in joint-stock company’s form
10.purchase, sale, exchange sets ..no more than 1/3 of value of the company’s assets
11.sale and purchase of assets (value 15% - 33%) of the bookkeeping company’s assets
12.appointmant and release members of supervisory board
13.appointment/release of an external auditor/ auditor board
14.establishment, reorganization and liquidation of subsidiaries and their statues

30 | P a g e
 15. payments for members of the supervisory board and audit board
16. amendments of the statue
17. exempting fixed assets in non-private companies
18. issues essential for operations- pursuant to the law and statute

2. Company’s supervisory board[Nadzorni odbor]

-consist of chairpersons and no less than two members appointed at general meeting
Persons cannot be the chairpersons neither members of supervisory board:
-criminals convicted for doing not lawful economic activities in supervisory
board 5 years from convicting
-criminals that have courts prohibition for doing activities in supervisory board
-persons over 65 years of age on the day of appointment
-candidate for sup.board-proposed by shareholder with no less than 5% of voting shares

-director or employee cannot be member of a sup. board

The supervisory board is responsible for:
1. overseeing company’s operations
2. overseeing management’s work
3. adopting business reports
4. submitting reports, schedule, plans for business year…
5. electing chairperson of the supervisory board
6. proposing distribution and ways of using/covering profit/loss
7. approving sale and purchase of assets (value 15% - 33%) of the bookkeeping
company’s assets
8. appointing chair person of remuneration/appointment committee
9. establishing temporary commissions and defining tasks
10.convering general meeting
11. approving issues of new shares of existing class
-the supervisory board chair person and members are liable for damage caused by
failure to perform or improper performance of their duties.
By law, by statute of company and by shareholder’s general meeting’s decision they:
1. returned the payment to shareholders
2. paid a dividend to shareholders
3. paid interest to joint-stock company’s bond holders
4. underwrote, acquired or redeemed shares
5. sold the company’s assets
6. made payments after the join-stock company has become insolvent
7. prolonged the terms of loan repayments of the join stock-company
8. issued shares based on a conditioned increase of equity

3. Company’s management [Menadžment]

Company’s management is in charge of:
1. Organizing work and managing operations,
2. Representing the join-stock company
3. Is liable for the legality of operations
-it consist of the director and executive officers
-director chairs the management
-director’s position, authorities, responsibilities – regulated by contract

31 | P a g e
 -executive officer organize operations, represents the join-stock company
4. Company’s secretary [Sekretar]
-keeps the shareholders book, the registry of the minutes of shareholder’s general
meeting and supervisory board’s meetings
-keeps documents defined by the law and the company’s statute, except financial
statements
-in charge of preparing sessions and talking minutes of shareholder’s general meeting
and the supervisory board

5. Company’s audit board [Odbor za reviziju]

-chairpersons and members of audit cannot be members of any board!
-cannot be employee or person with financial interests in joint-stock company
-only salary is from joint-stock company
-bound to perform an audit of the semiannual and annual statements and an audit
financial report requested by shareholder with no less than 10% of voting share.
-submit the report on general meeting (no more than 8 days since audit completion)
-can call for general meeting (only if they think that shareholders are jeopardized, or when they detect
irregularities in activities by members of (supervisory board, management)

[TEORIJA] Company’s liability [Odgovornosti kompanije]

Corporate liability implies a few legal and economic aspects. The liability implies a few forms,
both in terms of the kind of company and in terms of individual stages of its existence.
Liability is immanent for the overall company operation, starting from its establishment to the
cessation of existence. There are a difference between company’s liability and liability of its
members, i.e. founders.
[Korporativna odgovornost podrazumijeva nekoliko pravnih i ekonomskih aspekta. Odgovornost
podrazumijeva nekoliko oblika, kako u pogledu vrste poduzeća, tako i u pogledu pojedine faze
svog postojanja. Odgovornost je ključna za cjelokupni rad kompanije, počevši od svog
osnivanja.Postoje razlike između odgovornost poduzeća i odgovornost njenih članova, odnosno
osnivača.]

Corporations are subject to a different liability regime compared to partnerships, and in general
partnerships there is also a difference in liability between the two kinds of its members. There
is also the mentioned difference with respect to the company’s liability in different stages of its
existence. In order to establish a company, the act of registration itself has to be preceded by
taking a number of obligations necessary for a company to be established in the first place.
[Korporacije su predmet različitih režima odgovornosti u odnosu na partnerstva, i općenito kod
partnerstva tu je i razlika u odgovornosti između dvije vrste partnerstva. Tu je također spominje

32 | P a g e
razliku u odnosu na odgovornost poduzeća u različitim fazama svog postojanja. Kako bi se
osnovati kompaniju, sam čin registracije mora prethoditi uzimanjem brojnih obveza potrebnih
za kompaniju kako bi uopšte bila osnovana.

These can include obtaining loans, acquisition of required equipment, signing contracts, e.g. on
leasing business premises, future staff recruitment, etc. These activities necessarily lead to the
need, in actual cases and examples, for a person to be authorized as a legitimate representative
of a company that is still to be registered, i.e. founded.
[To može uključivati dobivanje kredita, nabavku potrebne opreme, potpisivanje ugovora, npr. o
najmu poslovnog prostora, buduće zapošljavanje osoblja, itd. Ove aktivnosti je nužno dovesti
do “potrebe”, u stvarnim slučajevima i primjerima, za osobe koji bi trebao biti ovlaštena kao
legitimni predstavnici kompanije koja još uvijek treba biti registrirana, odnosno osnovana.]

ZOPD does not attach the necessary significance to this issue at all. It only provides that a
company acquires legal personality on the day of its registration in the company register, and
that no one can act on behalf of the company before its registration.
[ZOPD ne pridaje veliki značaj za taj problem uopće. On samo navodi da kompanija stječe
pravnu ličnost sa danom upisa u registar poduzeća, te da nitko ne može djelovati u ime
poduzeća prije njegove registracije.]

Consequent to this solution, ZOPD specially provides that a person who acts contrary to this
provision is liable for the created obligations with his entire property, and if a few persons act
together, they have unlimited solidary liability for the obligations taken.
[Dosljedan na ovo rješenje, ZOPD posebno omogučava da osoba koja djeluje u suprotnosti sa
ovom odredbom - jamči sa svojom cjelokupnom imovinom, te ako nekoliko osoba djeluje
zajedno, oni su neograničeno solidarno odgovorni za preuzete obveze.]

In the section about the memorandum of association, ZOPD says that the memorandum of
association shall include a provision about the full names of the persons who represents a joint-
stock company in the procedure of its establishment.
[U odjeljku o memorandumu udruživanja, ZOPD kaže da memorandum udruživanja će
uključivati odredbu o punim imenima osoba koje predstavlja dioničko društvo u postupku
njegovog osnivanja.]

By analogy, this provision can be applied to the establishment of a limited-liability company.

When the problem will arise if the company is not registered or if the obligations taken in this
founding stage of the company are not fulfilled, in this case, the problem would be solved by
applying general rules of law of obligations pertaining to fulfilling contractual obligations.
[Po analogiji, ova odredba može se primijeniti za osnivanje društva s ograničenom
odgovornošću. Kada će problem nastati ako kompanija nije registrirana ili ako je obveze
preuzete u fazi osnivanja kompanije nisu ispunjeni, u ovom slučaju, problem će biti riješen
primjenom općih pravila prava o obvezama koje se odnose na ispunjenje ugovornih obveza.]

33 | P a g e
Natural persons shall always be liable for taken obligations with all their property. Since these
are tasks and obligations taken on behalf of a future legal person, it would suffice to include
only the provision that founders are jointly liable for the obligations taken. Comparative legal
systems recognize a special legal form called pre-company.
[Fizičke osobe, uvijek će biti odgovorna za obveze preuzeta sa svom njihovom imovinom.
Budući da su zadaci i obveze poduzete u ime buduće pravne osobe, bilo bi dovoljno da sadrže
samo odredbbu kojom su osnivači zajedno odgovorni za poduzete obveze. Komparativni pravni
sistem prepoznatljiv kao posebni pravni oblik nazvan pred-kompanija.]

E.g. Act on Commercial Companies of the Republic of Croatia, French law, German law, and
Austrian law. There are numerous and different legal understandings of the type of legal
construct this is.
Thus, some say that it is a civic partnership, pre-contract or company in the process of
establishment, kind of legal fiction or else a contract being signed in favor of a third party. They
differ only in which legal instrument defines the status of pre-company. As opposed to these,
English law knows of the founder’s fiduciary obligation to the company that is only to be
registered.
[“Zakon o trgovačkim društvima” Rep. Hrvatske, francuski zakonu, njemački zakon, austrijski
zakon.
Postoje brojna i različita pravna razumijevanja ovakve vrste pravne konstrukcije. Ovako, neki
kažu da je to građansko partnerstvo, predugovor ili firme u procesu osnivanja, vrsta pravnih
fikcija ili ugovor potpisan u korist treće osobe. Oni se razlikuju samo u tome koji pravni
instrument definira status pred-poduzeća. Za razliku od njih, engleski zakon zna za osnivačevu
obavezu za kompaniju koja samo što nije registrovana.]

The U.S.A. law speaks of the personal liability by future company members if a contract with a
third party is signed before the company is registered. It is a special legal construct, or a sort of
legal fiction which feigns the existence of a company of civic character, created in the moment
of closing a legal transaction that represents a legal basis for registering a company. A company
that exists from closing the legal transaction which is the basis of the company until its
registration in the court register. A pre-company is created ceases to exist by signing the
contract on founding a company, i.e. by passing a memorandum of association in case of a
single-member company.
[Zakon SAD-a govori o ličnoj odgovornosti prema budućim članova društva, ako je ugovor
potpisan sa licima treće strane prije nego je kompanija registrirana. To je poseban pravni
konstrukt, odnosno vrsta pravnih fikcija koja predstavlja postojanje kompanije građanskog
karaktera, nastale u trenutku zatvaranja pravnog posla koji predstavlja pravnu osnovu za upis
poduzeća. Kompanija koja postoji od zatvaranja pravnog posla koji je osnova za kompaniju do
njenog upisa u sudski registar. Pred-kompanija prestaje postojati potpisivanjem ugovora o
osnivanju kompanije, odnosno prolaskom memoranduma udruživanja u slučaju jedno-člane
kompanije.]

34 | P a g e
The memorandum of association should regulate mutual relations among founders themselves,
regardless of the concept adopted in this form of liability. All companies, regardless of their
type, are liable with the company’s entire property.
[Memorandum o pridruživanju treba regulirati međusobne odnose osnivača među sobom, bez
obzira na koncept usvojen u ovom obliku odgovornosti. Sve kompanije, bez obzira na njihovu
vrstu, su odgovorne sa cijelom imovinom kompanije.]

Founders of joint-stock companies and founders of limited-liability companies are liable up to

the value of their shares, i.e. stakes. This also applies to members that have subsequently
joined the company. ?
[Osnivači dioničkih društava i osnivači kompanija sa ograničenom odgovornošću su odgovorni
do vrijednosti svojih dionica, odnosno udjela. Ovo se također odnosi na članove koji su se
naknadno pridružili kompaniji.]

Liability applies to all types of obligations regardless of their origin and basis. Corporate liability
should be distinguished from the already described risk of a company founder.
[Odgovornost se odnosi na sve vrste obveza bez obzira na njihovo porijeklo i
temelj.Korporativnu odgovornost treba razlikovati od već opisanih rizika osnivača kompanije.]

Although company owners are liable only up to the value of their investment, their stake in the
overall book value of the company’s assets will also be affected. [Iako su vlasnici kompanija
odgovorni samo do vrijednosti svojih ulaganja, njihov udio u ukupnoj knjigovodstvenoj
vrijednosti imovine poduzeća također će biti pogođen.]

*Asset is a complex category and deserves a special attention. This statement applies to the
entire assets.[imovina]
It includes both tangible assets and: [materijalna imovina]
premises, equipments, furniture, computer gears… [prostor, oprema, namještaj, pc
oprema..]
goods in producing and warehouses [robe u proizvodnji i skladištima]
monetary resources [novčana sredstva]
due unpaid receivables [neplaćena potraživanja]
notes receivable [bilješke potraživanja]
shares in other companies. [udjele u drugim kompanijama]

Further, assets also include: [intangible ne materijalna]

intellectual property rights [prava intelektualnog vlasništva]
copyrights [autorska prava]
industrial property rights [prava industrijskoga vlasništva]

Finally, it also includes the so-called intangible assets or goodwill, which mostly expresses a
company’s market position.

35 | P a g e
Konačno, to također uključuje i tzv “nematerijalnu imovinu” ili “goodwill” - dobar glas; koji
uglavnom izražava poziciju kompanije na tržištu.

-Partnerships are liable for their obligations with the entire company’s property, and members
of such companies are also liable with their entire property, not invested in the company. This
form of liability is also called the unlimited solidary liability. In this form of liability, all the
members of the unlimited solidary liability company, i.e. partnership, are equal.
[Partnerstva su odgovorni za svoje obveze cijelom imovine poduzeća, te članovi takvih
kompanija su odgovorni i sa svojim cjelokupnom imovinom koja nije ulažena u poduzeće. Ovaj
oblik odgovornosti se također naziva neograničena solidarna odgovornost. U ovom obliku
odgovornosti, svi članovi društva neograničene solidarne odgovornosti, odnosno partnerstva su
jednaki.]

There is some difference in case of limited partnerships, since its members have different
positions in the company. Thus general partners (GPs) are liable for company’s obligations same
as members of general partnership, i.e. with unlimited solidarity. Limited partners are liable
only up to the value of their stake.
[Postoje neka razlike u slučaju ograničenog partnerstva, budući da članovi kompanije imaju
različite pozicije u kompaniji. Ovako “općenito” partneri (GPs) su odgovorni za obveze
kompanije isto kao i članovi općeg partnerstvo, tj. s neograničenom solidarnošču. “Ograničeni
(limited)” partneri su odgovorni samo do vrijednosti njihovih udjela.]

This strict regime of liability has its rationale in the fact that personal elements prevail in this
type of company, which is the main reason for such a form of liability.
[Ovaj strogi režim odgovornosti ima svoje razloge u činjenici da ličnielementi prevladavaju u
ovoj vrsti kompanije, koji je glavni razlog za ovakav oblik odgovornosti.]

Why are limited partners exempt from this liability? The reason lies in the fact that they are
secret partners, and are not registered in the court register not appear in public or in business
relations.
[Zašto su ograničeni partneri izuzeti od ove odgovornosti? Razlog leži u činjenici da su oni tajni
partneri, a nisu upisani u sudski registar, ne pojavljuju se u javnosti ili u poslovnim odnosima.]

Regardless of the legal possibility for them to be entrusted with the representation function,
upon the approval by all general partners, they still do not exist for the legislator in the formal
sense.
[Bez obzira na zakonsku mogućnost za njih da povjere funkciju zastupanja nekom drugom,
nakon odobrenja od strane svih generalnih partnera, oni još uvijek ne postoje u zakonodavnom
i formalnom smislu.]

The basic form of liability is liability for one’s own obligations. This is an imperative own liability,
which is also called the full liability. In practice, the company’s name frequently includes the
designation ‘full-liability company’.

36 | P a g e
[Osnovni oblik odgovornosti je odgovornost za vlastite obveze. To je imperativ vlastite
odgovornosti, koja se također zove “punu odgovornost”. U praksi, naziv kompanije često
uključuje oznaku 'puna odgovornost'.]

Even without this designation, this goes without saying, since this is an imperative norm. This
kind of liability covers the entire property except for the assets which are exempt from
execution pursuant to the rules of executory proceedings.
[Čak i bez te oznake, to ide bez izgovaranja, jer je to imperativ norma. Ova vrsta odgovornosti
pokriva cjelokupnu imovinu, osim imovine koja su izuzeta od izvršenja u skladu s pravilima
postupka izuzimanja.]

Company’s independent liability for its own obligations can be “reinforced” so that it is also
liable for other legal subjects’ obligations. What would the concept of other legal subjects
include? In the first place, these would be the so-called affiliated persons, or other companies
that have the capacity of subsidiary.
[Neovisna odgovornost društva za svoje vlastite obveze može biti "ojačana", tako da je i
odgovorna za drugieobaveze pravnih subjekata. Što bi koncept drugih pravnih subjekata
uključili? U prvom redu, ove tzv povezane osobe, ili druge kompanije koje imaju kapacitet
podružnice.]

It is the liability of the so-called parent company, or the company with majority shares in a
joint-stock company, or the majority share/contribution/stake in a limited-liability company. In
case of carrying out the bankruptcy proceedings over a subsidiary, if creditors are not settled,
the parent company is liable for the remaining obligations.
[To je odgovornost nadređene kompanije, odnosno kompanije sa većinskih udjelom (dionica) u
dioničkom društvu, odnosno većinskog udjela / doprinosa / udjela u društvu ograničene
odgovornosti.
U slučaju provedbe stečajnog postupka preko podružnice, ako kreditori ne riješe, nadređena
kompanija je odgovorna za preostale obveze.]

There is no feedback in case of bankruptcy proceedings over the parent company. How is the
parent company liable? It is liable with unlimited solidarity, i.e. with the entire company assets.
The pre-requisite for such a strict form of liability is the case when the bankruptcy resulted
from carrying out the obliging written instructions by the parent company.
[Nema povratka u slučaju stečajnog postupka kod nadređene kompanije.
Kako je nadređena tvrtka odgovorna? Odgovorna je sa neograničenom solidarnošču, tj. sa
cijelom imovinom kompanije. Preduvjet za takav strogi oblik odgovornosti je slučaj kada je
stečaj posljedica obavljanja pismenih uputa od nadređene kompanije.]

Besides this kind of liability, the parent company is liable, in the bankruptcy proceedings, with
unlimited solidarity for other obligations taken in legal and business transactions as well.
[Osim ove vrste odgovornosti, matična kompanija je odgovorna, u stečajnom postupku, s
neograničenom solidarnosti za ostale obveze poduzete, pravne i poslovne transakcijetakođer.]

37 | P a g e
Secondary liability also exists in case of introducing status changes. This liability, regardless of
the kind of status change, arises by virtue of legal succession or universal succession. This form
of liability includes only the obligations incurred up to the moment of status change.
[Sekundarna odgovornost postoji u slučaju uvođenja promjene statusa. Ova odgovornost, bez
obzira na vrstu statusne promjene, nastaje na temelju pravne sukcesije ili univerzalne sukcesije.
Ovaj oblik odgovornosti uključuje samo obveze nastale do trenutka statusne promjene.]

This liability is solidarity and unlimited, and represents the form of liability defined by law, so
that a contractual provision that would exclude it would be absolutely void.
[Ova odgovornost je solidarna i neograničena, te predstavlja oblike odgovornosti definirane
zakonom, tako da ugovorna odredba koja bi to isključila, bila bi apsolutno nevažeća.]

ZOPD introduced a novelty in the area of status changes. Actually, the decision on merger,
affiliation, separation or change of form of a company is made based on the reorganization plan
prepared by the management and supervisory board or another organ of each participant if
authorized as such by memorandum of association.
[ZOPD predstavio novitet u području statusnih promjena. Zapravo, odluka o spajanju,
pripajanju, razdvajanju ili promjeni oblika kompanije je napravljen na temelju plana
reorganizacije pripremljenog od strane upravnog i nadzornog odbora ili drugih organa, ako su
ovlašteni kao takva od strane memoranduma udruživanja]

Secondary liability can also arise from the change in company form. It is a distinctive
transformation of a company from one to another organizational form. The most frequent form
of this transformation is encountered in transformation of joint-stock companies into limited-
liability ones.
[Sekundarna odgovornost može nastati iz promjena oblika kompanije. To je karakteristična
transformacija poduzeća iz jednog u drugi organizacijski oblik. Najčešći oblik ove transformacije
je transformacija dioničkih društava ograničene odgovornosti.]

A separate form of liability is the company’s liability for damage caused by its employees and
organs of the company itself. Organs, its members and employees themselves work on behalf
and on the account of the company itself.
[Poseban oblik odgovornosti je odgovornost za štetu uzrokovanu kompaniji od strane svojih
zaposlenika i organa same kompanije. Organi, njegovi članovi i sami zaposlenici rade u ime i na
račun same kompanije.]

The company is always liable for damages incurred to third parties based on their unlawful
decisions of company bodies. The company is always liable for damages incurred to third
parties based on their employees’ unprofessional or unlawful work.
[Kompanija je uvijek odgovorna za štete nastale trećim osobama na temelju njihovih
nezakonitih odluka tijela kompanije. Kompanija je uvijek odgovorna za štete nastale trećim
osobama na temelju njenih “nestručnih” zaposlenika ili nezakonitog rada.]

38 | P a g e
Founders are liable for the company obligations in the already described way. Liability of
corporation founders is different from that of partnership founders. In case of corporations’
liability, regardless of the fact that founders are liable only up to the value of their stakes, they
also bear the entire risk in that the overall company assets will be the subject of general
execution.
[Osnivači su odgovorni za obveze kompanije na već opisani način. Odgovornost osnivača
“korporacije” je različit od osnivača “partnerstva”. U slučaju odgovornosti korporacije, bez
obzira na činjenicu da su osnivači odgovorni samo do vrijednosti njihovih uloga, one također
nose cijeli rizik na ukupnu imovinu kompanije koja će bit predmetom općeg izvršenja(izuzimanje
stečaj npr i sl.]

Piercing the corporate veil [podizati korporativni veo?]

Piercing, or lifting the corporate veil, as a separate legal institution has found its place in all the
comparative legal systems. There is no difference between Anglo-Saxon and European
continental legal circles with respect to defining the basic postulates of this legal institution.
Indeed, it draws its origin from the Anglo-Saxon legal circle.

[Piercing ili podizanje korporativnog veo, kao zasebna pravna institucija je našao svoje mjesto u
svim komparativnim pravnim sistemima. Nema razlike između anglosaksonskog i europskog
kontinentalnog pravnog kruga s obzirom na definiranje osnovne postavke ove zakonske
ustanove. Doista, on vuće svoje porijeklo iz anglosaksonskog pravnog kruga.]

This legal institution has found its place in all the legal regimes that regulate the concept of
companies in the traditional way. Owing to its postulates, the need to distinguish corporate
from personal property of natural persons as company founders is emphasized. Its postulates
are also directed to levelling the difference that arises in case of liability for fulfilling corporate
obligation.
[Ova pravna institucija je našao svoje mjesto u svim pravnim režimima koji reguliraju koncepte
kompanija na tradicionalan način. Zahvaljujući postulatu – naglasio je potrebu razlikovanja
korporativne od lične imovine fizičkih osoba kao osnivača kompanije. Njegovi postulati su
također usmjereni na izravnavanje razlika koje nastaju u slučaju odgovornosti za ispunjenje
obveza poduzeća.]

Liability is one of basic features of companies and, when deciding for the company type,
business people mostly opt for corporations. The motive can be found in the fact that the
liability regime is far more favorable. They are liable only up to the value of their stakes, i.e.
shares. Assets of this type of companies have to be considered as separate from the founders’
personal property.
[Odgovornost je jedna od osnovnih značajki poduzeća i, kada se odlučuje za vrstu poduzeća,
poslovni ljudi se uglavnom odlučuju za korporacije. Motiv se može naći u činjenici da je režim
odgovornosti daleko povoljniji. Oni su odgovorni samo do vrijednosti njihovih udjela, odnosno
dionica. Imovina ove vrste poduzeća mora biti uzeta u obzir kao odvojena od lične imovine

39 | P a g e
osnivača.]

However, when the company is used for achieving unlawful goals, the legal institution of
piercing the corporate veil is activated. In this case, advantages of corporation owners cease
and the terrain of unlimited solidary liability is entered. They are liable same as partnership
owners.
[Međutim, kada se koristi kompanija za postizanje nezakonitih ciljeva, pravna institucija
“podizanja korporativnog Veo-a” je aktivirana. U ovom slučaju, prednosti korporacija i vlasnika
prestaju, te ulazi na teren društva neograničene solidarne odgovornosti. Oni su odgovorni isto
kao i vlasnici partnerstva.]

This issue is generally resolved in two ways. The first case implies use of general clause method,
or the numerus clausus method or enumeration method. Some countries do not deal with this
legal institution at all but rather leave its resolution to judicial practice. The company, as a
subject of law, is separated from legal subjectivity of its members.
[Taj se problem obično rješava na dva načina. Prvi slučaj podrazumijeva korištenje metoda opće
klauzule, odnosno ukupan blokovi metodom ili metodom popisivanja. Neke zemlje se ne bave
ovom pravnom institucijom nego ostave rješenje za sudske prakse. Kompanija, kao subjekt
prava, je odvojena od pravnih subjektiviteta svojih članova.]

The fact that liability is separated does not necessarily mean that activities are allowed aimed at
concealing the true intentions of company owners, or getting around legal documents and,
particularly, taking actions characterized as an offence.
[Činjenica da je odgovornost odvojena ne znači nužno da su dozvoljene aktivnosti usmjerene
na prikrivanje istinske namjere vlasnika poduzeća, ili uzimajući okolo pravnih dokumenata i,
posebno, reagovanje karakterizira kao kazneno djelo]

With respect to legal framework, ZOPD has regulated this issue by means of numerus clausus
principle. A single article of ZOPD regulates the liability of corporation members and
partnership members.
It provides that each member of general partnership and the general partner in limited
partnership is liable for company obligations with unlimited solidarity, with his entire property.
[S obzirom na pravni okvir, ZOPD je regulirano ovo pitanje putem brojnih blokova principa.
Jednom članku o ZOPD regulira odgovornost korporacije članova i članova partnerstva. Ona
omogućuje da svaki član općeg partnerstva i generalni partner u komanditnom društvu je
odgovoran za obveze poduzeća s neograničenom solidarnosti sa svojom cijelom imovinom.]

A shareholder in joint-stock company, owner of share in a limited-liability company, and limited

partner are not liable except when:
-they use the company to achieve their personal goal which is incompatible with the goals of
other members and company as a whole;
-manage company assets as their own property;

40 | P a g e
-use the company for cheating or harming their creditors;
- affect the decrease in company’s assets in their own favour, or third parties’ favour, or make
the company take obligations although they know or must have known that the company is not
or will not be capable of fulfilling them.
[Dioničar u dioničkom društvu, vlasnik dionica u društvu ograničene odgovornosti, a ograničeni
partner ne snosi odgovornost, osim ako:
-oni koriste kompanije da postignu njihove osobne cilj koji je nespojiv s ciljevima drugih članova
i društvo u cjelini;
-upravljanje imovinom kompanije kao da je njegova;
-koristi kompaniju za varanje ili šteti njenim kreditorima;
-utjecati na smanjenje imovine poduzeća u vlastitu korist, ili korist trećih strana, ili da se obveže
poduzeće, iako su znali ili morao znati da društvo nije ili neće biti u stanju da ih ispunjava.]

Solutions used in ZOPD can be considered as modern solutions. Special forms of abuse can
occur in cases determined by separate legal documents. They primarily include provisions of
bankruptcy and liquidation legislation, particularly sections pertaining to piercing actions, or
actions taken before opening of bankruptcy proceedings without remuneration or with slight
remuneration.
[Rješenja koja se koriste u ZOPD se mogu smatrati kao moderna rješenja. Posebni oblici
zlostavljanja se mogu pojaviti u slučajevima određenim se posebnim pravnim dokumentima.
Oni ponajprije uključuju odredbe stečaja i likvidacije pravosuđa, osobito dijelova koji se odnose
na “piercing” akcije ili radnje poduzete prije otvaranja stečajnog postupka bez naknade ili uz
male naknade.]

Ban on competing with a company – competition clause

Membership in a company implies that in the course of such a relation given business and
similar activities are banned as such, or are subject to a given kind of approval, in terms of the
obligation to provide information to an appropriate organ in a company on such an activity.
[Članstvo u poduzeće podrazumijeva da tijekom takvog odnosa dati poslovi i slične aktivnosti su
zabranjene kao takve, ili su predmet za izdavanje neke vrste odobrenja, u smislu obveze pružiti
informacije kako bi odgovarajući organ u kompaniji bio upoznat sa takvim aktivnostima.]

The very ban on competition implies that natural persons with a given status in a company
cannot perform given activities that would be incompatible with the existence of such a
position.
[Zabranjena na konkurenciju podrazumijeva da fizička osoba s obzirom na status u kompaniji ne
može obavljati zadane djelatnost takvog položaja]

Law has defined the circle of people who, due to their position, are subject to the rules of legal
institution of competition law. ZOPD provides that these are the following persons:
member of an unlimited partnership,
general partner in limited partnership.
a stakeholder in a limited-liability company,
a member of board in a limited-liability company,

41 | P a g e
 a member of supervisory board of a joint-stock company,
a member of board in a joint-stock company
procurators.
[Zakon je definirao krug ljudi koji, zbog svog položaja, podliježu pravilima pravne institucije
zakona o tržišnom natjecanju. ZOPD propisuje da su sljedeće osobe:
član neograničen partnerstva,
general partner u komanditnom društvu.
dioničar u društvu ograničene odgovornosti,
član odbora-u u društvu ograničene odgovornosti,
član nadzornog odbora u dioničkom društvu,
član odbora u dioničkom društvu
zamjenici.]
These persons are subject to the ban that they cannot participate in an activity which is, or
could be in a competitive relation to the activity of the company where they perform one of the
entrusted tasks.
[Ove osobe su predmet zabrane da ne mogu sudjelovati u djelatnosti koja je, ili bi mogla biti u
konkurentnom odnosu sa djelatnošču kompanije gdje izvode jedan od povjerenih poslova]

The enumerated functions exclude the possibility that they are performed by a person who has:
the capacity of employee in another company who performs the same or similar activity
or
the capacity of an independent entrepreneur.
[Nabrojane funkcije isključuje mogućnost da ih izvodi osoba koja ima:
sposobnost zaposlenika u nekoj drugoj kompaniji koja obavlja iste ili slične aktivnosti ili
kapacitet neovisnih poduzetnika.]

This ban should apply either to an employee in another company or to a person who has the
capacity of independent entrepreneur, provided that the activity of this company or enterprise
is of the same or kindred nature compared to the former company’s activity.
[Ova zabrana bi se trebala primjenjivati na zaposlenike u drugoj kompaniji ili osobe koje imaju
kapacitet neovisnih poduzetnika, pod uvjetom da djelatnost ove tvrtke ili poduzeća je iste ili
srodne prirode u odnosu na bivše djelatnosti tvrtke.]

ZOPD starts from the fact that the ban on competition exists in two situations, as follows:
the activity is already competitive or
the activity may be competitive.
[ZOPD polazi od činjenice da zabrana konkurencije postoji u dvije situacije, kao što:
djelatnost je već konkurentna ili
aktivnosti može biti konkurentna.]

The duration of ban pertains to the entire time period of performing some of the enumerated
functions, or the existence of some of the capacities, although the ban can also be prescribed
for a longer duration. In order to allow the referral to this longer duration, it should be defined
by the company’s articles of association or statute.

42 | P a g e
[Trajanje zabrana odnosi na cijelo razdoblje za obavljanje neke od nabrojenih funkcija, odnosno
postojanje nekih od kapaciteta, iako je zabrana također može biti propisana za duže trajanje.
Kako bi se dopustili upućivanje na ovo duže trajanje,to treba biti definirano od strane ustava?
Kompanije ili statuta]

This duration can be no longer than two years after the cessation of a given capacity. This norm
is of imperative nature, so that the duration can be determined for a shorter, but not a longer
time period.
Defining a period longer than two years would have no legal effect.
[To trajanje ne može biti duže od dvije godine nakon prestanka datog kapaciteta. Ova norma je
imperativne prirode, tako da se trajanje može utvrditi za kraće, ali ne dulje vremensko
razdoblje.
Definiranje razdoblje duže od dvije godine ne bi imala pravni učinak.]

Company Status Change [Promjena statusa kompanije]

-Status changes are the manifestations of various transformations in the course of a company’s
operations.
-Company can MERGE [spojiti]: -by formation of a new company [formiranjem nove
kompanije]
-by absorption [apsorpcijom/spajanjem]
-by divide [odvajanjem/dijeljenjem]

-reasons (for changing status) can include the need to do business based on different principles.
By this reason joint-stock companies [d.d.] are transformed into limited-liability companies
[d.o.o.]
-status changes is result by decisions of company owners.
-status change always lead to the cessation [prestanak/gašenje] one of the companies
-company “exit” is based on: free will of owner or by force of law
By the LoC (law on companies) status changes are mergers by forming a new company, by
absorption and divisions.

MERGER by formation of a new company [spajanje formiranjem novog poduzeća]

-includes the association of two or more companies of the same or different organization forms
into a single new company, of course without conducting the liquidation procedure.
-Decision on this status change is made at shareholders general meeting (corporations), or by
all company members (partnerships).
-Decision is made by all companies that “merge”, otherwise not possible.
-Every form of status change must be register with the court register of companies.
-In case of merger between an open joint-stock company and another company – result has to
be a new open joint-stock company
-Forming a new company by merge corporation & partnership companies in NOT POSSIBLE! (by
LoC)

43 | P a g e
-With change of company’s form, reorganization plan has to be made!
Reorganization plan is draw by management and supervisory board , or by other organ in
company defined by Company’s memorandum of association or statue.
-The legislator [zakonodavac] also prescribes the mandatory elements of reorganization plan.
The reorganization plan includes:
a) Data on participating companies (forms, names and registered offices of participating
companies and transferor companies) [Podaci o kompanijama sudionicama]
b) Ownership rights of shareholders or transfer companies in new company (prava
vlasništva dioničara u novoj kompaniji)
c) Description, valuation and distribution of companies assets and liabilities that are
transferred to the new company, with auditor’s report [Opis, vrednovanje i distribucija
imovine kompanije i obveza koje su prenesene na novu kompaniju, s izvještajem
revizora]
d) Data from which the shareholders of the transferee company will be entitled to
participate in profit [Podaci iz kojih će dioničar imati pravo na sudjelovanje u dobiti]
e) Data from which the transactions of transferor companies will be treated as being those
of the transferee company for accounting purposes [Podaci iz kompanija koji će se
smatrati podacima nove kompanije te će se tretirani za računovodstvene svrhe]

In case of division, reorganization plan include too:

a) The share exchange ratio [omjer razmjene dionica]
b) The terms relating to the allotment of share or interests, and the amount of cash
payments [uvjeti koji se odnose na dodjelu dionica ili interesa, i iznos isplate gotovine]
c) Any right in transferee companies to be allotted to the holders of share or other
securities in the transferor company to which any special rights attach [vlasnicima
dionica ili drugih vrijednosnih papira da se posebna prava pridaju?]
d) Description and allocation of assets and liabilities that are being transferred to each
transferee company [opis i raspodjelu imovine i obveza koji se prenose na svaku
transformisanu kompaniju]

Reorganization plan must include a written AUDITOR’S REPORT, that include [revizorski
izvještaj]
a) indication of methods used in determining the share exchange ratio [metodu korištenu
u utvrđivanju omjera razmjene dionica]
b) auditor’s opinion (on methods used) [mišljenje revizora]
c) description of valuation problems forced by auditor (if any) [opis problema]
-Acting with profession rule is necessary
-LoC introduces a special form of liability
-Members of management, other members that draw reorganization plan, auditors - liable to
companies and shareholders if they did not act in compliance with profession rules .
-These are special profession rules prescribed by International Accounting Standards, as well as
by the rules of professional auditor’s organizations.
-Natural person (member of management who draw reorganization plan) – liable with his all
assets.

44 | P a g e
-Legal auditor company – liable with all company assets
-Individual auditor (natural person) – liable with his all private assets

MERGER by absorption [apsorpcijom/spajanjem]

-Company can “MARGE” assets and liabilities, without regular liquidation procedure to another
company. (LoC – allow that)
-possible only between corporations, or between partnerships / no mix!
-no limitations between companies of same type, exceptionally joint-stock company can merger
only with another company which will fit criteria for open joint-stock company.
-company that emerges become “owner” of obligations and rights, and its liable with all assets
-goal [cilj] – business nature /can use cooperative advantages versus competition
-If is a market position the same for both companies – establishing new company
-If is a one more dominant from another – absorption to the dominant one
-by Loc court can decline [odbiti] registration of new company, if the founder is a major owner
in company that has outstanding [neizmirene] liabilities to creditors, or outstanding taxes.
-by using analogia legis nethos – apples to other cases of same form of status changes.

Division [odvajanje/dijeljenje]
-is form of status change where one company is divided into two or more companies by division
Division status change can be carried by 2 ways:
a) by absorption (company is separated – split assets on two or more companies)
b) by establishing new company (company assets is devise between two new companies)

-new companies are liable for the obligations of divided company with entire assets of new
company
-With LoC it is necessary to prepare reorganization plan.
-Decision 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
upućeni u plan reorga.]

Change in company form [promjena forme(oblika) kompanije]

-implies a change the “form” of existing companies
-one is transferred to another without changing ownership structure
-name, assets and other identifications of company stay a same

-Closed joint-stock company can only merge into limited-liability company (with 2/3 of voting
shares on general meeting)
-Open joint-stock company - cannot change form
-equity of a limited-liability company cannot be lower than min. prescribed by law.
-limited-liability company = 2.000 BMA, joint-stock company = 50.000 BMA
-decision to relating to the change of company form is made by Securities Commission
[Komisija za vrijednosne papire]
-submitters of application is by joint-stock company itself signed by members of supervisory
board, and management members who proposed.

45 | P a g e
- Securities Commission – decides with 60 days
-if decision is not approval, its fate will depend on appeals procedure
-if decision is favourable, the change will be entered into court register of companies
By LoC limited-liability company can change into joint-stock company base on decision on
general meeting of both companies. (if decision is pass with 2/3 of voting shares)
-shares depend of normal value of shares, minimum equity of 50.000 BMA is required.
-submission of application, and approval from Commission Board is required too.

Legal consequence of status change: [pravne posljedice]

a) companies participating in a status change cease to exist
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 exist pursuant to bankruptcy
procedure or regular liquidation procedure
d) the newly formed company – retake all previous obligations of companies
e) owners of companies that have ceased to exist - can be liable only if legal institution of
piercing the corporate veil is activated.

Economic consequence of status change: [ekonomske posljedice]

- newly formed company is liable for all obligations transferred by former companies
- newly formed company become holder of all rights, assets…
- status cannot be occur unless tax obligations and other financial obligations are
realized

Systems of establishing companies [Sistem osnivanja kompanija]

We have more systems of establishing companies, there are:

a) normative system [normativni? sistem]

b) system of law [pravni sistem]
c) system of concessions [sistem koncesije]
d) system of applications [Režim aplikacije (primjene)]
e) licensing system [sistem licenciranja]

- complexity company’s form implement a combination of two or more systems.

- procedure of establishing companies is defined by legal instruments.
-basic norms are contained in ZOPD [Zakon o privrednim društvima]
- there are also separate legal instruments regulating this area, which prescribe the pre-
requisites companies have to meet in order to be registered with the competent registration
court.
-special laws and bylaws have character and legal nature of lex specialis.

46 | P a g e
-Act on Registration of Business Subjects in Federation B&H is legal framework for process of
registration business entities into court register. [Zakon o registraciji poslovnih subjekata u
Federaciji BiH je pravni okvir za proces registracije poslovnih subjekata u sudski registar.]
-same provision is found in the Framework Act on the Registration of Business Subjects in B&H
and RS too.[Ista odredba se nalazi u okviru Zakona o registraciji poslovnih subjekata u BiH i RS
također]

Normative system
-is considered dominant both in our legal system and comparatively.
-The essence of this system is that a law prescribes requirements for company establishment.
-All natural and legal persons (general and special requirements provided by law) - have right to
register a company.
-establishment of a company is completed with the act of its registration
-registration court is authorized to question meeting the requirements determined by law.
-All founders [osnivači] are equal!(including foreign legal and natural persons)
- Any limitations are determined by a separate law.
-in the foreign direct investment regime approval of investment in military industry and public
communications is limited by the foreign investment maximum of 49%.
-normative system prevails [prevladava] because it is applicable to all forms of company
organization including the special ones, when additional establishment requirements are
prescribed by lex specialis.
-other regimes of company establishment can thus be considered as accompanying this one.

System of law [Pravni sistem]

-that a company is established by means of a special law or another administrative document.
- characteristic of the period of administrative management of economic trends
Act on Establishing Public Enterprise Electric Utility of B&H, documents on establishing cantonal
public utilities, Act on Public Roads establishing the Directorate of Roads in the Federation B&H,
etc. [Zakon o osnivanju Javnog preduzeća Elektroprivreda BiH, dokumenti o osnivanju
kantonalnih javnih komunalnih službi, Zakon o Javnim cestama osnivanjem Direkcije cesta u
Federaciji BiH…]
- it has been preserved to this day in certain sectors significant for conducting activities of
general interest which, in turn, is an expression of the need to satisfy citizens’ requests.
Another term for these activities are utility services. [sačuvan je do danas u pojedinim
sektorima, značajnih po obavljanju djelatnosti od “općeg dobra” koji se, - izraz potrebe da
zadovolje zahtjevi građana. Drugi izraz za ove aktivnosti su komunalne usluge.]
-these companies are formed in accordance with special laws & they are registered as one of
the two forms of corporations.

47 | P a g e
-these forms of organization also have to undergo the registration regime with the authorized
registration court. [moraju se registrovati]

The system of concessions [Sistem koncesije (ustupka)]

-originated in the Middle Ages / granting permits to conduct, typically, trading activities.
-It has been preserved to this day regardless of its apparently archaic elements.
The existence of unavoidable legal regime of goods in general use makes this system applicable
for establishing certain companies that operate based on a granted concession, or based on
granting a special form of approval. [Postojanje neizbježnog pravnog sistema “općeg dobra” čini
ovaj system prihvatljivijim za osnivanje kompanije koja djeluje na osnovu neke koncesije ili
specialnog odobrenja ]
This system is prevailing for goods in general or in common use as: [opća ili zajednička
sredstva]
-natural resources (oil, gas, etc), water, roads, harbors,
airports etc.

-granting concession fordoing certain activities of general interest. [opće dobro]

-this is a combination of normative regime and concession regime of company establishment.
- registration of company also with the authorized registration court.
- example for this system is also provided by the regime for establishing free zones, since in the
B&H legal regime their establishment requires the approval by Entity governments. [Primjer za
ovaj sistem je također režim za osnivanje slobodnih zona, jer u pravnom sistemu BiH njihove
uspostave zahtijevaju odobrenje od strane vlada entiteta.]

Licensing system [sistem licenciranja]

-is present with special forms of organization, when a special law of the lex specialis nature,
provides the basis for establishing these companies.

-licenses are granted by state regulatory organs.

-in case of commercial banks, this is the Banking Agency, and in case of insurance companies–
Supervisory Agency.
-for establishing joint-stock companies (The license by the Securities Commission is necessary)
-these regimes can also be found in comparative legal systems in a similar form.
-the procedure of its establishment is also completed with the registration with the authorized
registration court.

Regime of application [Režim primjene]

-is applied in cases when starting a given company requires an application.
-The application is submitted to the authorized state organ, which is also determined by a
separate Law of policies of Direct Foreign Investments in B&H.

48 | P a g e
-This regime is necessary and is usually present in recording foreign investments.
-In the B&H legal regime - the obligatory recording of foreign investments is done based on a
special law by Directives for FDI registration the constitutive section of which is the form for
registration of foreign investment. [U pravnom sistemu BiH obavezan upis stranih ulaganja se
vrši na temelju posebnog pravilnika direktiva za registraciju izravnih stranih ulaganja
konstitutivni dio je obrazac za registraciju stranog ulaganja.]

-The 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 wants to use the available data on
foreign direct investment to issue special incentives and benefits, as well as harmonize the
entire FDI regime with numerous international conventions and the assumed obligations
towards the international community. [Razlozi uključuju i potrebu za praćenje ekonomskih
događanja u ovom području, tj. prikupljanja statistike i, iznad svega, činjenica da svaka država
želi koristiti dostupne podatke o izravnim stranim ulaganjima za izdavanje posebnih poticaja i
pogodnosti, kao i usklađivanje cijelog FDI režima s brojnim međunarodnim konvencijama i
preuzetim obvezama prema međunarodnoj zajednici.

-This system is also accompanied by the mandatory company registration with the competent
registration court.
-Competent organ for applications is Ministry of Foreign trade of B&H

49 | P a g e
Company identifiers [Identifikatori kompanije]
Company identifiers:

 Company name [naziv kompanije]

 Business activity [poslovna aktivnost (djelatnost)]

 Registered office [registrovano sjedište]

 Registration number [registraciski broj]

 Tax number, etc. [porezni broj]

-Companies have their identifiers defined by law.

-The essential reason for the existence of company identifiers is their distinction in legal and business
transactions.
-registered companies with given identifiers also enjoy certain legal protection
-Act on Registration of Business Subjects in Federation B&H is legal framework for process of
registration business entities into court register.
-The same on level of B&H, RS and District Brcko too.

Basic mandatory company identifiers are: [osnovni obvezni identifikatori]

 company name [naziv kompanije]

 business activity [poslovna aktivnost (djelatnost)]

 registered office [registrovano sjedište]

50 | P a g e
Other identifiers as well the mandatory: [ostali obavezni identifikatori]

 registration number [registraciski broj]

 tax number [porezni broj]

 custom number [carinski broj]

 authorized person-CEO .... [ovlaštena osoba... itd.]

Company name is the name under which a trading company operates and by which it is
identified in legal and business transactions. (mandatory company identifier required by law)
-it is one of the basic company attributes required for the registration in the company register.
[npr: Joint stock company “Coca Cola”, Sarajevo, Blazujski drum bb, B&H.]

Act on Registration of Business Subjects in Federation B&H provides that the general information
entered into the main register by the competent registration court include:

 company name and registered office,

 full names and residences of all founders (owners) of the registry subject.

-A company is separated from its founders in terms of assets;

-consequently a distinction must be made both in terms of legal identifiers and in terms of the company
name itself [imovina odvojena od osnivača, stoga razlika mora biti napravljena kako u pogledu zakonskih
identifikatora samog imena kompanije.]

-Naming corporations requires the mandatory designation of the company form in the full company
name:

 L.L.C. (d.o.o.) - limited-liability company [društvo ograničene odgovornosti]

 JSC (d.d.) - joint-stock company [dioničko društvo]

-This ”designation” is only requirement for corporations

-not forbidden to include other elements, e.g. personal elements into the company name
-Including personal elements in the corporations’ names is frequent in practice.
-This statement is particularly true of single-member companies (company names of which
frequently include surnames, first names and various acronyms)
-personal elements are mandatory for the partnership names too.

The company name of a company with unlimited solidary liability has to include:
- surname of at least one member, [prezime bar jednog člana]
if more than one member in company - with the appropriate citation of type:

51 | P a g e
 - surname of at least one member and company, and sons..., and legal abbreviation d.n.o.
[Naziv mora imati prezime (ime) bar jednog člana (ako ih je više), ”i sinovi, i ortaci...” +
skračenicu “d.n.o” što predstavlja društvo neograničene solidarne odgovornosti]

Company name of limited partnership [komanditno društvo]and the company name of limited stock
partnership [komanditno društvo na dionice] have to include following elements:

surname of at least one partner and legal abbreviation LLP (k.d. or k.d.d.)
[prezime najmanje jednog partnera i pravnu skraćenicu LLP (kd ili kdd)]

-Naming the company is a legal obligation

-in the memorandum of association [u memoranduma udruživanja]

-in all other legal instruments of the company [u svim drugim pravnim instrumentima komp]

-This is a legal obligation for all company types.

-This legal obligation also applies for parts of an individual company, regardless of their names. [djelovi
pojedinih kompanija]
-Parts of enterprises have to appear under the company name as well. [posluju pod imenom kompanije]

Company activity (djelatnost/aktivnost komapnije)

- is the economic activity conducted by a company.
-Activity is frequently called the business field. [polje poslovanja]
-Activity itself implies a set of a few activities registered by a company in the court register. [Djelatnost
sama podrazumijeva skup aktivnosti registriranih od strane kompanije u sudski registar.]
-In practice, companies register a greater number of activities, typically those they assume could be
their business field [ U praksi, kompanije registriraju veći broj aktivnosti, po pravilu ona mogu biti
njihovo polje poslovanja ]

-Companies must register their activity, i.e. have it filed into the court register.
-ZOPD prescribes that the legal personality is acquired on the day of registration in the court register.
-The very act of registration in the court register is not the sufficient pre-requisite for starting the
registered business activity. [Čin upisa u sudski registar nije dovoljan preduvjet za početak bavljanja
registriranom djelatnošču]
- The additional pre-requisite is obtaining a document by a competent state organ (inspection team) on
fulfilling, above all, technical requirements for conducting a given activity. [Dodatni preduvjet je
dobivanje dokumenta od strane nadležnog državnog organa (inspekcijskog tima) o ispunjavanju, prije
svega, tehničkih uvjeta za obavljanje određene aktivnosti.]
-Special requirements for some activities (regulated by laws and depend on the type of industry)
- these special conditions are prescribed by relevant ministries or by Entity governments.
For example special requirements in the fields:

52 | P a g e
 Pharmacy industry, Food industry, Auditing services, Securities, Gambling, Forwarding
companies etc.

Registered office [registrovano sjedište]

-Company registered office is its mandatory element, i.e. it represents a constituent part of the company
name.
-ZOPD defines registered office as a site which is registered as a registered office in the register of
companies (also determined by the memorandum of association or statute) [ZOPD definira sjedište kao
mjesto koje je registrirano kao “registrirani ured” u registru poduzeća. Također određen
memorandumom o udruživanju ili statutom kompanije]
-registered office must be designated in both documents!! (u oba dokumenta bi trebao biti)
- ZOPD prescribes that offices are registered only in the court register in the registration court where the
company is registered.
-branches [produžnice] should be subject to the same regulation, i.e. that the office name must include
its seat, with the mandatory citation of the registered office of the company itself.
This is necessary for: (da se koristi samo jedna adresa za sve urede, produžnice...)

-determining liability [utvrđivanja odgovornosti]

-determining the authorized court in disputes [određivanje nadležnog suda u sporovima]
-executing decisions [izvršenja odluke]
-in order to identify and protect third parties’ interests [kako bi se identificirali i zaštitili interesi
trećih osoba]

-The registered office is typically defined as a site which is also the site where business is managed from.
-The ZOPD solution is not practical (company registered office doesn’t necessarily have points of contact
with the site where economic activity is conducted). [na toj adresi ne mora značiti da su i službe koje
obavljaju neku npr. Ekonomsku djelatnost]
-The management seat is, then, fairly broadly defined[sjedište menadžmenta je široko definisano]

A company registered office serves to determine:

-competence of the court with respect to all subsequent changes pertaining to the registration
of mandatory elements in company register [nadležnosti suda s obzirom na sve naknadne
promjene koje se odnose na upis obveznih elemenata u registar poduzeća]

-competence of the municipal court which protects the company name by duty, and during the
very act of company registration [nadležnost općinskog suda koji štiti naziv kompanije po
dužnosti, a za vrijeme samog čina registracije poduzeća]

-company seat is also relevant to determine local jurisdiction of the actually competent court in
resolving mutual disputes between the company founders [sjedište kompanije je također
relevantno za određivanje lokalne nadležnost stvarnog nadležnog suda u rješavanju međusobne
sporove između osnivača kompanije]

53 | P a g e
 -further, in accordance with legal proceedings, the court competence in business disputes is
determine based on the registered office of the company [dalje, u skladu sa sudskim postupkom,
nadležnost suda u poslovnim sporovima koji se određuju na temelju sjedište kompanije]

-registered office of a company also serves to determine the competent court for executing
deeds on monetary resources and movable objects [Sjedište kompanije također služi za
određivanje nadležnog suda za izvršenja djela na novčana sredstva i pokretne objekte]

-conducting legal and administrative disputes is also guided by the company’s registered office
[obavljanje pravnih i upravnih sporove je također vodjeno u sjedištu kompanije]

-in executing bankruptcy proceedings, the exclusive competence of municipal court is decided
upon depending on the registered office of bankruptcy debtor [u provedbi stečajnog postupka,
isključiva nadležnost općinskog suda ovisno gdje je sjedište stečajnih dužnika]

Other company identifiers [drugi identifikatori kompanije]

- Besides the listed identifiers, which determine the company type and identification elements,
companies have other identifiers that presently appear as mandatory [Osim navedenih identifikatora,
koji određuju tip kompanije i identifikacione elemente, kompanije imaju druge identifikatore koji se
danas pojavljuju kao obavezni]

-The goal of establishing these identifiers is achieving as full identification of a company as possible
compared to others [Cilj uspostavljanja ovih identifikatora je što je moguće veća identifikacija poduzeća
u usporedbi s drugima]

These are identifiers pertaining to the legal obligation of opening and registering: [odnose se na
otvaranje i registraciju]

-tax number [porezni broj]

-customs number [carinski broj]
-registration [registracija]
-identification numbers. [identifikacioni ili matični broj]

They would also include the mandatory citation of a company transaction number-account in official
companies correspondence, together with naming of commercial banks where the accounts have been
opened. [Oni također podrazumjevaju obvezno navođenje broja transakcionog računa poduzeća u
službenim predstavništvima kompanije, zajedno s imenom komercijalne banake gdje je/su računi
otvoreni]

Other company identifiers may include its optional elements that further contribute to visual
recognition of the company’s name and the company itself.
-These may range from

“logos and trademarks to various designer solutions,

wording, abbreviations, slogans used in trading, etc. “

54 | P a g e
[abbreviations - kratice]

Entering business entities into court

register [unos poslovnih subjekata u sudski registar]
Subjects of entry into court register include all business entities that are obligated to do so by laws of
Entities and Brčko District. [Subjekti upisa u sudski registar su svi poslovni subjekti koji su obvezni to
učiniti (upisati se u registar) po zakonima entiteta i Brčko Distrikta.]

Act on Registration of Business Subjects in Federation B&H is legal framework for process of registration
business entities into court register. [Zakon o registraciji poslovnih subjekata u Federaciji BiH je pravni
okvir za proces registracije poslovnih subjekata u sudski registar.]

The same provision is found in the Framework Act on the Registration of Business Subjects in B&H and
RS to. [Ista odredba se nalazi u okviru Zakona o registraciji poslovnih subjekata u BiH i RS-u.]

According to ZORPS, following business entities are entered into register:

-all forms of business societies and their associations [svi oblici poslovnih društava i njihovih
udruga]
- all public enterprises [sva javna poduzeća]
- all institutions with public authority [sve institucije s javnim ovlastima]
- establishments,
- public corporations [javne korporacije]
- business societies []
- co-operatives [zadruge]
- co-operative alliances and other entities as defined by a separate law in Federation B&H.
[zadružni savezi]
-Similar definitions can be found in RS and Brčko District legislation. [Slične definicije mogu se naći u RS i
Brčko Distriktu]
[ZORPS - Zakonom o registraciji poslovnih subjekata ]

Registration court can require only the information determined by law. No other proofs beyond this
circle can be required. [Registracijski sud može zahtijevati samo podatke određene zakonom. Nikakav
drugi dokaz izvan tog kruga može biti potreban.]

Entity solutions in this field are in full accordance.

55 | P a g e
The data are classified to general and special. Both are the same for both entities and Brcko District too.
[Entitetska rješenja u ovom području su u punom skladu.
Podaci se razvrstavaju na opće i posebne. Oba su isti za oba entiteta i Brčko Distrikta također.]

The general data include: [opći podaci uključuju]

-firm and seat, i.e. full name and seat of all the founders/owners of the subject of entry [firma
i sjedište, odnosno puni naziv i sjedište svih osnivača]

-object of entry [predmet upisa]

-firm and seat of the subject of entry [firma i sjedište subjekta upisa]
-abbreviated name of firm-subject of entry [skraćeni naziv kompanije]

-taxation and identification number [porezni i identifikacijski broj]

-custom number [carinski broj]

-form of the subject of entry [oblik subjekta upisa]

-full name and position of the authorized representative of subject of entry [puni naziv i
položaj ovlaštenog zastupnika subjekta upisa]

-extent of authorities of the representative of the subject of entry [opseg ovlasti zastupnika
subjekta upisa]

-amount of agreed (documented) equity [iznos ugovorene (dokumentirano) kapital]

-amount of the capital paid in cash [iznos kapitala plaćena u gotovini]

-amount of capital in assets and rights [kapitala u iznosu od imovine i prava]

-percentage of participation of each individual founder in the capital of subject of entry (in
cash, assets and rights) [postotak učešća svakog pojedinačnog osnivača u kapitalu subjekta
upisa (u novcu, sredstva i prava)]

-The data include data that have to be entered into register of societies in case of entering parts of
business society, entering mutually related subjects of entry, and entering status changes, i.e. changes in
general or special data important for legal operations.
[Podaci uključuju podatke koji moraju biti upisani u registar društava u slučaju ulaska dijelova poslovnih
društava, ulazak međusobno povezanih subjekata upisa, te ulazak statusnih promjena, odnosno
promjene u općim ili posebnim podatcima važnih za pravne poslove]

As such, special data include:

-branches of business units of subject of entry [grane poslovne jedinice subjekta upisa]
-ties of subsidiary society [veze podružnica društva]
-merger between two or more subjects of entry [spajanjem između dvije ili više subjekata upisa]
-amalgamation to one or more subjects of entry to another subject of entry [spajanje na jednu ili
više subjekata upisa sa drugim subjektom upisa]

56 | P a g e
 -divisions of subjects of entry to two or more subjects of entry [podjela predmeta upisa na dva ili
više subjekata upisa]
-changes of the form of subject of entry- transformation [promjene oblika subjekta upisa-
transformacija]
-and ways of cessation of subject of entry [način prestanka subjekta upisa]

Registration of the branch, as part of business society, requires registration into society register of
following obligatory special data: [Registracija “grane” (produžnice), kao dio poslovanja društva,
zahtijeva upis u registar društva sljedećim posebnim obveznim podacima]
-firm and seat of branch or business unit of subject of entry [firma i sjedište podružnice ili
poslovne jedinice]
-business activity of the branch or business unit of subject of entry [predmet poslovanja
podružnice ili poslovne jedinice]

-name, number and date of the document on the establishment of branch or business unit of
subject of entry [naziv, broj i datum akta o osnivanju podružnice ili poslovne jedinice subjekta
upisa]

-the full name of the person authorized for representing the branch or business unit of subject
of entry [puno ime osobe ovlaštene za zastupanje podružnice ili poslovne jedinice subjekta
upisa]

Special data are required for subsidiary societies as well:

- status changes of mergers [statusne promjene “spajanja”]
- amalgamations and divisions of subject of entry and the registration of cessation-removal of subject of
entry. [spajanje i podjela subjekta upisa i registracija prestanka-uklanjanje subjekta upisa]

These are the data that will allow easy identification and linking subjects being registered and subjects
being removed from the society register. [To su podaci koji će omogućiti jednostavnu identifikaciju i
povezivanje registriranih subjekata kao i uklonjenih subjekata iz društvenog registra]

These data are necessary since it should be known who is the new legal successor of the obligations and
rights of business society ceasing to exist.[Ovi podaci su potrebni jer to bi trebalo biti poznato ko je novi
pravni sljedbenik obveze i prava poslovnog društva koje prestaje postojati.]

As a separate obligation in registering necessary data, ZOPD provides for the registration of
identification information on members, deposits and liability for obligations in society with stock and
shares in the society. [Kao poseban obveza u registriranju potrebnih podataka, ZOPD osigurava
registraciju identifikacijskih informacija o članovima, depozitu i odgovornosti za obveze u društvu s
dionicama i udjele u društvu.]

These include following:

-full name and address of residence, or firm and address of seat, of members of unlimited
liability society, joint liability, limited partnership and limited liability society [Puni naziv i adresu
stanovanja, odnosno firma i adresa sjedišta, članova društva neograničene odgovornosti,
zajedničke odgovornosti, komanditnog društva i društva sa ograničenom odgovornošću]

57 | P a g e
 -amount of agreed (documented) and deposited stakes of members of limited partnership and
limited liability company [Iznos ugovorene (dokumentirano) i odlaže udjele članova
komanditnog društva i društva s ograničenom odgovornošću;

-total number of shares and amounts of respective shares, expressed in percentage of

participation in equity for each member of the limited liability company [ ukupan broj dionica i
količine pojedinih dionica, izražen u postotku učešća u kapitalu za svakog člana društva
ograničene odgovornosti]

-symbol for class, number and nominal value of stock company shares, by classes. [simbol za
klasu, broj i nominalnu vrijednost dionica dioničkog društva, po klasama.]

-What is considered substantial and what should be integral part of the Law, the part pertaining to the
society register, is the provision regulating when an application for registering the establishment of
business societies will be rejected. [što se smatra značajnim, a što bi trebao biti sastavni dio zakona, dio
koji se odnosi na registar društva, je odredba koja regulira kada će zahtjev za upis osnivanja poslovnih
društava bit odbijen]

These are following cases:

-invalidity of founding document [nevaljanost dokument o osnivanju]

-when before applying for registration of the establishment of society in court register deposits
in the amount determined in founding document have not been paid, in accordance with law
[dokument o osnivanju nisu plaćeni, u skladu sa zakonom]

-when the activity of goal of operations is against the law [kada je cilj djelatnosti operacija protiv
zakona]

-if the society founders cannot found a society according to law [kada osnivači ne mogu osnovati
društvo u skladu sa zakonom]

-if the founder is majority owner is a society that has outstanding obligations to creditors, or
outstanding taxes [ako je osnivač većinski vlasnik u društvu koje ima neizmirene obveza prema
kreditorima, ili neizmirene poreze]

-if the founder or one of founders is a member of an existing unlimited solidarity liability or a
limited partnership [ako je osnivač ili jedan od osnivača član postojećeg društva neograničene
solidarne odgovornosti ili komanditnog društva]

-if the founder or one of founders is the only member of a limited liability company that is
undergoing the bankruptcy or liquidation procedure or if a claim has been filed against the
society by one or more creditors whose outstanding and unpaid claims surpass the half of
society’s equity.[Ako je osnivač ili jedan od osnivača jedini član društva s ograničenom
odgovornošću koje prolazi stečaja ili postupka likvidacije ili ako je zahtjev podnesen protiv
društva od strane jednog ili više povjerilaca čija je neizmirena i neplaćena potraživanja prelaze
polovicu društvenog kapitala]

58 | P a g e
-Registration procedure is conducted by municipal courts as actually competent courts. [registracijski
postupak provode općinski sudovi kao “stvarni” nadležni sudovi.]

-The decision is made by individual judge. [odluku donosi sudac pojedinac.]

-Local competency is determined depending on the proposed seat of business society. [lokalne
nadležnost se određuju ovisno o predloženenom sjedištu poslovanja društva.]

-Framework Law on Registration of Business Entities in B&H only provides basics of implementing the
registration procedure, while the detailed provisions can be found in Entity laws and Brcko District
legislation. [okvirni zakon o registraciji poslovnih subjekata u BiH samo pruža osnove primjene postupka
registracije, a detaljne odredbe se mogu naći u entitetskim zakonima i zakonima Brčko Distrikta]
-Application for registration can also be submitted online, if it is possible to submit and check the
electronic signature. [zahtjev za registraciju može se podnijeti online, ako je moguće dostaviti i provjeriti
elektronski potpis]

-This is the qualified electronic signature or the so-called secure electronic signature, as named by the
legislator. [to je kvalificirani elektronski potpis ili tzv siguran elektronski potpis, kao i ime zakonodavca]

-Implementation 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
technology to process electronic applications. [implementacija ovih odredbi će se i dalje provoditi do
osnivanja akreditiranih institucija za izdavanje sigurnog elektronskog potpisa, a sudovi postanu sposobni
koristiti imformacione tehnologije za obradu elektronske aplikacije]

Applications [aplikacije]

Consumer to busness C2B

ConsumersInternetCompany

Business to business B2B

CompanyInternetCompany
CompanyInternetStock of Exchange
PopulationInternetStock of Exchange
Stock of ExchangeInternetStock of Exchange
GovernmentInternetCompany
GovernmentInternetGovernment
GovernmentInternetTaxpayers

Web Based Services [web usluge]

-open 7:30 am-midnight [otvaraju se u 7:30 iza ponoći]
-online Corporation Laws [online zakoni koroporacija]
-pay annual taxes [plačanje godišnjeg poreza]
-download forms [preuzimanje obrasca]
-reserve corporate names [rezervisana imena]
-research status of Delaware business entities [istraživanja]

59 | P a g e
-Due to frequent abuses in the procedure of business subject registration, particularly with the so-called
phantom or non-existent firms, we must welcome the introduction of legal requirement for registration
court to check the identity of applicant or founder [zbog čestih zloupotreba u postupku poslovnog
subjekta upisa, posebice tzv fantom ili nepostojeće tvrtke, moramo “pozdraviti” uvođenje zakonskih
uvjeta za upis u registraciski sudski, provjeriti identitet podnositelja zahtjeva ili osnivača]

-Registration court is obligated to accept the application, but not to process it before conducting the
described check. [registracijski sud je dužan da prihvati zahtjev, ali da ne vodi postupak prije provjere]

-Besides the check of applicant’s identity, court checks the exclusivity of firm–subject of entry and
payment of stamp duty [uz provjeru identiteta podnositelja zahtjeva, sud provjerava isključivost firme
-subjekta upisa i uplate takse]

- In further registration procedure, registration court examines the existence of formal and material
prerequisites for registration. [sud ispituje postojanje formalnih i materijalnih pretpostavki za
registraciju]
Formal prerequisites are following:
- that the application was submitted by authorized person [da je zahtjev podnesen od strane
ovlaštenih osoba]

- that the application was submitted on the prescribed form and signed by the applicant [da je
zahtjev bio podnesen na propisanom obrascu i potpisana od strane podnositelja zahtjeva]

- that all the required documents were enclosed with the application [da su svi potrebni
dokumenti priloženi sa aplikacijom]

- that the accepter documents have proper content and were issued through the appropriate
procedure [da svi prihvaćeni dokumenti imaju odgovarajući sadržaj i das u izdani putem
odgovarajućeg postupka]

-Registration court issues decisions in the form of conclusions and decisions. [registracioni sud donosi
odluke u obliku zaključaka i odluka]

-The conclusions govern the issues of procedural nature, while the decision decides on the validity, i.e.
acceptance of the application and its registration or rejection. [zaključci reguliraju pitanja proceduralne
prirode, a odluka odlučuje o valjanosti, odnosno o prihvatu prijave i upisa ili odbijanju]

-Naturally, the decision also decides on all the later changes of data related to the status of the already
entered, i.e. registered business society. [naravno, odluka također odlučuje na sve kasnije izmjene
podataka vezanih za status već prijavljenih, odnosno registrirani poslovnih društava]

- With respect to legal remedies, interested parties can file an appeal to the decision on registration
within eight days starting from the day of receiving the decision. [s obzirom na pravna sredstva,
zainteresovani mogu uložiti žalbu na odluku o registraciji u roku od osam dana od dana prijema rješenja]

-Interested parties include subjects of entry themselves, as well as any legal or natural person having
some legal interest. [zainteresirane strane uključuju subjekata upisa, kao i svaku pravnu ili fizičku osobu
koja ima neki pravni interes]

60 | P a g e
-Upon the filed appeal, the competent registration court can agree with the appeal if they establish that
it is grounded, and resolve the case in another way. [po podnošenju žalbe, nadležni sudu registracije
može se složiti s žalbom ako utvrde da ona ima temelj, i riješi slučaj na drugi način]

Registration court is obligated to deliver all the decisions on registration, changes of data in register, and
removal from the society register to: [registracijski sud je dužan dostaviti sve odluke o registraciji,
promjene podataka u registru te brisanje iz registradruštava]
-Indirect Taxation Administration [uprava za indirektno oporezivanje]

-Municipality and Canton according to the seat of subject of entry [općine i kantona prema
sjedištu subjekta upisa]

-Bureau of Statistics [zavod za statistiku]

-Chamber of Commerce [privredna komora?]

-Pension and Disability Insurance Agency according to the seat of subject of entry [penziono i
invalidsko osiguranje agencije prema sjedištu upisa subjekta]

-Relevant Customs Administration if the subject of entry registered foreign trade operations
[relevantne carinske uprava, ako je subjekt upisa registriran za vanjskotrgovinsko poslovanje]

-Relevant regulatory bodies for special forms of organization such as Committee for Securities
and Securities Register for stock companies, Banking Agency for commercial banks, and
Supervisory Agency for insurance companies. [relevantna regulatorna tijela za posebne oblike
organizacije kao što je Odbor za vrijednosne papire i Registar za vrijednosne papire dioničkih
društava, Agencija za bankarstvo za poslovne banke, i Agencija za nadzor društava za osiguranje]

-Deadline for issuing decision on business entity registration is five days starting from the day of
submitting proper and documented application. [rok za izdavanje rješenja o registraciji poslovnog
subjekta je pet dana, počevši od dana podnošenja pravilno dokumentirane aplikacije]

-If there are certain deficiencies, registration court uses a conclusion to order the subject of entry to
remove them, and shall dismiss the registration if the latter does not comply. [ako postoje određene
manjkavosti, registracijski sud koristi zaključak da naredi subjektu upisa njihovo uklanjanje, te će se
odbaciti prijava ako se to ne ispoštuje]

61 | P a g e