On 17 December 2020 the National Assembly of the Republic of Serbia has adopted the Law on Amendments to the Law onProperty Restitution and Compensation (“Amended Law”).
A significant novelty introduced by the Amended Law is that compensation is also provided for compensations that do not exceed the amount of EUR 1,000 per applicant.
Compensations that do not exceed the amount of EUR 1,000 per applicant will be paid exclusively in cash by paying the entire amount in dinars at the middle exchange rate of the National Bank of Serbia.
The Amended Law provides that the basic elements of bonds are determined by the Decision on issuance of the Government of the Republic of Serbia at the proposal of the Ministry of Finance no later than 30 September of the current year based on decisions on compensation that became final in the period from 01 July of the previous year to 30 June of the current year. Bonds are issued in intangible form and their amount is stated in whole number.
The deadline for payment of compensation that do not exceed the amount of EUR 1,000 per applicant, as well as advance payment of compensation based on final decisions on compensation is 31 March next year compared to the year in which the Decision on the issuance of the Government of the Republic of Serbia entered into force.