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Press Release

18.10.17

Government adopted several draft acts related to arbitral award implementation

Photo: Daniel Novakovič/STA

At today’s session, the Government finalised the text of the draft Act Regulating Certain Issues regarding the Final Award of the Arbitral Tribunal on the basis of the Arbitral Agreement between the Government of the Republic of Slovenia and the Government of the Republic of Croatia and sent it to the National Assembly for discussion and adoption under the urgent procedure. It is a draft emergency law which introduces solutions for the positions of people along the border who are directly affected by the arbitral award.

  

The draft act regulates certain issues regarding the final award of the arbitral tribunal. The purpose of the act is to preserve the rights held by individuals on the day of the promulgation of the award on the territory of the Republic of Slovenia which pursuant to the award is becoming territory of the Republic of Croatia. A further purpose of the act is to allow people to continue to exercise their individual rights under the same conditions as they could in the past, which they would no longer be entitled to do as inhabitants of that territory. At the same time, the act introduces new entitlements, such as compensation for various rights which they would no longer be entitled to due to the altered location of the Slovenian border with the Republic of Croatia. The act also regulates certain issues associated with legal persons which on the day of the promulgation of the award had their registered office on territory of the Republic of Slovenia which pursuant to the award is becoming territory of the Republic of Croatia.

  

The draft act stipulates the preservation of the competencies of authorities and holders of public authorisations which they have held to date, and at the same time foresees that decisions can be taken in individual areas by the authorities which are newly competent to decide.

  

In addition to the emergency act, the Government also finalised the draft Act on Keeping Records on the National Border with the Republic of Croatia, the draft revision of the Land Register Act and the draft revision of the Marine Fisheries Act.

  

The Government was also briefed on the report of the Ministry of Finance on the status of the drafting of alternative solutions regarding the fulfilment of commitments made during the procedure of approval of State aid for Nova Ljubljanska banka. It also adopted starting points for the meeting of Minister of Finance Mateja Vraničar Erman and European Competition Commissioner Margrethe Vestager, which will be held in Brussels on 26 October 2017. 

  

Minister Vraničar will present Commissioner Vestager with the viewpoints of the Slovenian Government, which hopes to ensure the fulfilment of the final compensatory measure deriving from the decision of the European Commission in 2013 in a manner which will not harm Slovenian taxpayers and at the same time will not be contrary to EU rules on already-granted State aid. Taking account of all of the circumstances and possibilities it has reviewed, the Government still believes that it would be most appropriate to defer the procedure of the privatisation of NLB and to use the time thus gained to address the issue of the transferred foreign currency deposits of Croatian savings account holders, which is significantly obstructing the implementation of an economically justified privatisation procedure. According to the Government, this issue cannot be addressed through unilateral measures, but must be addressed at the international level, and it will therefore increase its efforts in that regard. 

  

When searching for appropriate solutions with the European Commission, it is also necessary to take into account the fact that Slovenian taxpayers covered all of the costs of State aid to the bank at the end of 2013, and therefore it is not possible to accept proposals which would constitute a further financial burden on Slovenian taxpayers, either through lower purchase prices for NLB in the event of sales prices which would be lower due to the risks deriving from the transferred foreign currency deposits, or due to the effect of a decline in the value of the NLB Group. The objective of the activities is to preserve NLB as a strong regional banking group.

  


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