$ IONALIZATION LAW ZAGREB, 14 Oct (Hina) - Croatian Justice Minister Miroslav Separovic and his associates on Monday held a press conference on the implementation of the Law on compensation for the property which was nationalized or
confiscated during the Yugoslav Communist regime. The Law was adopted last week by Parliament and it will become effective on 1 January, 1997.
DENAT
$ IONALIZATION LAW
ZAGREB, 14 Oct (Hina) - Croatian Justice Minister Miroslav
Separovic and his associates on Monday held a press conference on
the implementation of the Law on compensation for the property
which was nationalized or confiscated during the Yugoslav Communist
regime. The Law was adopted last week by Parliament and it will
become effective on 1 January, 1997. #L#
Croatian citizens, who had the status of Croatian citizens on
11 October 1996, the day of the adoption of the Law, and their
inheritors of the first hereditary line, will have the right to
compensation for property which was confiscated after 15 May, 1945.
Asked why the property of Jews would not be returned to its
owners and why its owners would not receive compensation for their
property which was confiscated before 15 May, 1945, Separovic said
that the Law also provided for the return of property which had
been confiscated before 15 May, 1945.
In 1945, the Federal People's Republic of Yugoslavia (FNRJ),
Separovic said, first returned to owners their property which had
been confiscated by the Independent State of Croatia (NDH) between
1941 and 1945 and then nationalized their property again, claiming
it was in the state interest. Those who did not return to FNRJ also
lost their property. That property would be returned, Separovic
said, adding that part of that property had already been
compensated through an agreement between the United States and the
former Yugoslav state.
The person who is to become the owner of his or her flat by
the Law on compensation for the property which was nationalized or
confiscated during the Yugoslav Communist regime, will have the
right to compensation. The value of the flat would be around 900
German marks per square meter, Separovic said. Out of that amount,
the owner would receive 25% in cash and the remaining 75% either in
shares or in bonds, for which he or she would be able to purchase
shares, Separovic said.
In case the property was confiscated, the owner will first
have to prove that his or her property was confiscated in rigged
political trials.
Ships will be returned to their owners, but they will not be
physically returned. The owners of ships will receive part of
estimated value in shares of the company the ship is being used by.
The same principle will also be applied in the restitution of
nationalized companies. The compensation limit is 3,7 million
kunas, except in cases of the restitution of companies.
According to the Law, business premises will also have to be
returned. In case business premises have been leased for a period
of five years, the tenant will have to leave the premises after the
expiry of the lease contract. If the contract was signed for
permanent use, the lease holder will have to leave the premises in
a year time.
Castles will also have to be returned to their owners in case
they were confiscated together with the land they were built on and
in case such property is not restricted by other regulations of the
Law. Land and facilities in national parks will not be returned,
their former owners will only receive compensation.
It was not possible to say how many assets would be needed for
the implementation of the Law, Separovic said, adding that the
Croatian Privatization Fund had estimated that the value of
confiscated or nationalized property (flats not included) amounted
to 11 billion German marks, while former owners claimed that the
value amounted to 80 billion marks.
(hina) rm mm
141521 MET oct 96