$ PROPERTY ZAGREB, 4 Jan (Hina) - The Croatian government has sent to Parliament a bill on a Fund for Restitution of Confiscated Property regulating the organisation, jurisdiction, rights, commitments and sources of the Fund.
According to the bill, the Fund would have the authority to compensate in money and state bonds for property confiscated during the former Communist rule.
CONFISCATED
$ PROPERTY
ZAGREB, 4 Jan (Hina) - The Croatian government has sent to
Parliament a bill on a Fund for Restitution of Confiscated Property
regulating the organisation, jurisdiction, rights, commitments and
sources of the Fund. According to the bill, the Fund would have the
authority to compensate in money and state bonds for property
confiscated during the former Communist rule. #L#
The Fund for Restitution of Confiscated Property would be
established as a legal entity sui generis and its purpose would be
to create conditions for the payment of compensation to former
owners in the way regulated by a special law - the Law on
Recitation of Confiscated Property.
The Fund would issue bonds to persons for whom it had been
established by an authorised body to have the right to compensation
for confiscated property in the form of state bonds.
The bonds would be paid in kunas in equal, six-month
installments over a period of 20 years, starting as of 1 January
2000.
The bill envisages that tenants of confiscated flats who fail
to submit requests for compensation within the period regulated by
the Law on Restitution of Confiscated Property (until 30 June 1997)
or whose requests are rejected, would have the right to buy their
flats according to the Law.
According to the government's bill, the Fund for Restitution
of Confiscated Property is to have administrative and supervisory
boards and a president.
The managing body would be the administrative board.
The president of the fund and his deputy would be named by the
government.
(hina) rm
041216 MET jan 97