ZAGREB, June 7 (Hina) - The government has moved amendments to the law on taking over companies for urgent parliamentary procedure, with the aim of protecting minority shareholders. The suggested changes stipulate that all
entrepreneurs who gain more than 25 percent of shares with the right of vote in the assembly of any company will be obliged to make a public bid for taking over the remaining stock. This has not been the case so far. After today's session the government forwarded to the parliament two agricultural laws. By the final law on agricultural land, the decision making on state land would be dropped from the present county level to town and municipal councils. Advantage in managing the land would be given to farming families, residents who truly live off agriculture. The government concluded the problem of the clearing debt has been resolved with the Czech Republic. Croatia's debt of 2.9 million
ZAGREB, June 7 (Hina) - The government has moved amendments to the
law on taking over companies for urgent parliamentary procedure,
with the aim of protecting minority shareholders.
The suggested changes stipulate that all entrepreneurs who gain
more than 25 percent of shares with the right of vote in the assembly
of any company will be obliged to make a public bid for taking over
the remaining stock. This has not been the case so far.
After today's session the government forwarded to the parliament
two agricultural laws. By the final law on agricultural land, the
decision making on state land would be dropped from the present
county level to town and municipal councils. Advantage in managing
the land would be given to farming families, residents who truly
live off agriculture.
The government concluded the problem of the clearing debt has been
resolved with the Czech Republic. Croatia's debt of 2.9 million
clearing dollars was agreed to be paid in convertible currency,
with a 15 percent discount rate and in three instalments, Finance
Minister Mato Crkvenac said.
The government also discussed reports on negotiations connected
with two international loans. A total of seven million dollars is
necessary for the technical assistance project for bankruptcy
cases. Five million dollars would be secured through a World Bank
loan.
A loan of the Council of Europe's bank for development is intended
for the reconstruction of a Franciscan monastery in Dubrovnik. This
needs 20.6 million kuna, and half would be financed by the loan.
(hina) lml sb