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CRO PARL. ON BILLS ON SECURITY MARKET, JOINT STOCK COMPANIES

ZAGREB, Jan 23 (Hina) - The majority of the parties in the Croatian parliament (all but the Croatian Party of Rights/the Croatian Christian Democratic Union parliamentary bench--HSP/HKDU) supported a bill on the security market and a bill on the take over of joint stock companies. The bill on the security market, deputy finance minister Damir Kustrak says, would regulate offers, conditions of buying and selling securities, stock exchange transactions and organised public markets, business activities of the Central Deposit Agency, the rights, obligations and responsibilities of the issuer and the investor. Even though the majority of the parties believe the bill will create a framework for the development of the capital market and the overall Croatian Economy, the bill was criticised during the discussion. Ante Kovacevic of the HSP/HKDU opposed the bill on the security market, stressing it aims at enabli
ZAGREB, Jan 23 (Hina) - The majority of the parties in the Croatian parliament (all but the Croatian Party of Rights/the Croatian Christian Democratic Union parliamentary bench--HSP/HKDU) supported a bill on the security market and a bill on the take over of joint stock companies. The bill on the security market, deputy finance minister Damir Kustrak says, would regulate offers, conditions of buying and selling securities, stock exchange transactions and organised public markets, business activities of the Central Deposit Agency, the rights, obligations and responsibilities of the issuer and the investor. Even though the majority of the parties believe the bill will create a framework for the development of the capital market and the overall Croatian Economy, the bill was criticised during the discussion. Ante Kovacevic of the HSP/HKDU opposed the bill on the security market, stressing it aims at enabling the government to misuse state securities, incapable of patching up the holes in the state budget. "This law would make such activities legal, following orders of the International Monetary Fund," Kovacevic stressed. (hina) it sb

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