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Agency StatuteAccording to the Articles 4 and 17 of the Law on Deposit Insurance Agency (“Official Gazette of RS” no. 61/2005), the Managing Board of the Deposit Insurance Agency at its session held on September 2, 2005 rendered the following
STATUTE
OF THE DEPOSIT INSURANCE AGENCY
I GENERAL PROVISIONS
Article 1
The Deposit Insurance Agency (hereinafter: the Agency) has been established by the Law on the Deposit Insurance Agency (“Official Gazette of RS” No. 61/05 - hereinafter: the Law on Deposit Insurance Agency).
Article 2
The Agency shall be a legal entity with the status of a public agency whose rights, obligations and responsibilities are defined by the Law and this Statute.
Article 3
The name of the Agency shall be: Agencija za osiguranje depozita.
In its international business communication, the Agency shall use the English version of its name: The Deposit Insurance Agency of Serbia.
The head office of the Agency shall be in Belgrade.
Article 4
The Agency shall have its seal and stamp.
The seal of the Agency shall be of the round shape and shall contain the following text: “Deposit Insurance Agency – Belgrade”.
The stamp of the Agency shall be of rectangle shape and shall contain the following text: “Deposit Insurance Agency – Belgrade” and fields for noting the date of submissions receipt and register number given to the submissions.
The text on the seal and the stamp shall be written in Serbian language and in Cyrillic alphabet.
Article 5
The Agency shall have its logo.
II AGENCY OPERATIONS
Article 6
Scope of work of the Agency:
1) Performing the operations regarding the statutory deposit insurance of natural persons in accordance with the law that regulates deposit insurance (“Official Gazette of RS” No. 61/05 – hereinafter: Law on Deposit insurance);
2) Carrying out the function of bankruptcy or liquidation administrator in banks and insurance companies;
3) Participation in the management of the banks in which the Republic of Serbia is a shareholder;
4) Organizing and performing the sale of shares of banks in which the Republic of Serbia is a shareholder;
5) Organizing and implementing the privatization of the socially-owned capital and the sale of the state-owned capital in insurance companies;
6) Performing other activities in the name and on behalf of the Republic of Serbia, in accordance with the law and other regulations;
7) Performing other activities in accordance with the law.
Article 7
The Agency shall perform the activities within its jurisdiction throughout sectors and departments, which is defined more precisely by the Act on Internal Organization and Organizational Chart of the Agency.
III SCOPE OF WORK OF AGENCY’S BODIES
Article 8
The Agency bodies are: the Managing Board and the General Manager of the Agency.
Article 9
The Managing Board shall:
1. enact the Statute and other general acts of the Agency;
2. enact Rulebook regulating the work of the Managing Board;
3. adopt the financial plan and work plan of the Agency;
4. adopt the annual report and annual financial statements of the Agency;
5. choose the audit company to audit the financial statements of the Agency and review its reports;
6. render the decision on change of Agency’s head office location and decide on the logo of the Agency;
7. propose the fee for services within the scope of work of the Agency and submit it to the Ministry of Finance for consideration and to the Government of the Republic of Serbia for approval;
8. enact regulations and other general acts regarding deposit insurance , in accordance with the Law on Deposit Insurance;
9. make decisions on the investments of the Deposit Insurance funds in accordance with Article 8 of the Law on Deposit Insurance;
10. make decisions on the investments of the funds under Article 14, Paragraph 3 of the Law on the Deposit Insurance Agency;
11. render the internal acts related to the performance of the bankruptcy and liquidation process of the banks and insurance companies as well as the decisions regarding realizations of claims of the Agency in bankruptcy and liquidation proceedings of banks and insurance companies;
12. make decisions on managing of the banks in which the Republic of Serbia is a shareholder and on organization and implementation of selling of the banks’ shares;
13. make decisions on organizing and implementing the privatization process of the socially-owned capital and the sale of the state-owned capital in insurance companies in accordance with the law regulating insurance;
14. give prior approval for the decisions made by the insurance companies in accordance with the Article 243e of Law on Insurance (“Official Gazette of RS” no. 55/04, 70/04 and 61/05);
15. make decisions regarding the performance of activities in the name and on behalf of the Republic of Serbia, in accordance with the law and other regulations;
16. appoint and acquit Agency’s General Manager, in accordance with the law, enter into the employment contract with the Agency’s General Manager and supervise the legality of the General Manager work;
17. render the decision on engaging foreign and local legal persons for performance of specific expertise within the scope of work of the Agency;
18. appoint commissions, working groups and other operational bodies for performance of specific duties within the scope of work of the Agency;
19. perform other activities prescribed by the law and the Statute of the Agency.
Article 10
The Managing Board member shall receive a monthly remuneration regardless of the number of the Managing Board sessions held during a month in compliance with the decision of the Managing Board.
The Managing Board member shall be entitled to renounce the remuneration from the paragraph 1 of this Article.
Article 11
The General Manager of the Agency shall:
1. represent and act on behalf of the Agency, be responsible for legality and efficiency of the Agency’s work as well as for use of the assets of the Agency
2. organize the activities of the Agency and govern the activities;
3. propose the regulations issued or adopted by the Managing Board, carry out the decisions of the Managing Board and undertake the measures for their execution;
4. adopt the internal organization act and organizational charts of the Agency;
5. appoint and acquit the General Manager’s Deputy and establish the scope of his/her authorizations and responsibilities;
6. appoint and acquit the Agency’s trustees in banks and insurance companies in bankruptcy or liquidation;
7. make decisions in the labor relations and stipulate the labor contracts with employees, according to the general labor enactments and Agency’s enactments;
8. decide on the engagement of the domestic or foreign experts for performing special duties within the scope of work of the Agency and sign the contract with them on regulation of the mutual rights and responsibilities;
9. propose the members of the council of trustees to the relevant bankruptcy council in accordance with the Art. 7 of the Law on Bankruptcy and Liquidation of the Banks and Insurance Companies (“Official Gazette of RS” no. 61/05);
10. perform other duties defined by the law and this Statute, as well as by the order and authorization of the Managing Board.
IV APPOINTING AND ACQUITTING OF THE GENERAL MANAGER
Article 12
The General Manager of the Agency shall be nominated and acquitted in accordance with the law and this Statute.
The General Manager shall be nominated and acquitted by the Managing Board with the approval of the Government of the Republic of Serbia for the period of five years with the possibility of reelection.
Article 13
A person eligible for the position of the General Manager shall have university degree and minimum five years of relevant work experience in the field of finances, banking or insurance.
Article 14
The General Manager’s mandate shall cease before the expiration of the period for which he/she was appointed, by submitting a resignation or through his/her acquitting.
Article 15
The General Manager’s resignation shall be submitted to the Managing Board in written form and it has to be explained.
Upon receiving the resignation, the Managing Board shall immediately inform the Government of the Republic of Serbia on the General Manager’s resignation.
Article 16
If the General Manager’s mandate cease before the expiration of the period for which he/she was appointed, the Managing Board, with the approval of the Government of the Republic of Serbia, shall appoint an Acting General Manager for a maximum period of six months.
V REPRESENTING THE AGENCY
Article 17
The General Manager shall represent the Agency and shall have the right of a signature.
In the case of General Manager being absent or otherwise unavailable, the Agency shall be represented and signed by the General Manager’s Deputy or other employee of the Agency with the special authorizations and responsibilities, who will be authorized by the General Manager in written form for representing and signing within the range of given authorities.
The General Manager can authorize an employee or other person to represent the Agency in certain activities and procedures before the court or other bodies, and the scope and content of the granted authorizations shall be defined in the letter of authorization.
VI INTERNAL ORGANIZATION
Article 18
The Act on Internal Organization and Organizational Charts shall define the internal organization of the Agency, job positions’ titles, description of duties, number of employees and special conditions for performing duties.
The Act from the Paragraph 1 shall also define the range of the authorizations and responsibilities of the employees with the special authorizations and responsibilities.
Article 19
The employment status of the Agency’s employees shall be regulated by the general labor laws and regulations.
VII BUSINESS SECRET
Article 20
The documents and data about the work of Agency whose disclosure would harm the reputation and interest of the Agency, its work, or its clients will be considered as business secret.
The Act of the Agency rendered by the Managing Board shall define documents and data to be considered as a business secret, and the usage thereof.
The members of the Managing Board, employees of the Agency, as well as every other person involved in the Agency’s activities are obliged to act in accordance with the Article 23 of the Law on Deposit Insurance Agency, on the issues of keeping the business secret.
VIII FINAL PROVISIONS
Article 21
Changes and amendments of this Statute shall be made in a manner and by the procedure prescribed for the adoption hereof.
Article 22
Upon the approval of the Government of the Republic of Serbia, this Statute shall be published in the “Official Gazette of the Republic of Serbia” and shall become effective on the eighth day of its publication.
THE PRESIDENT OF THE MANAGING BOARD
Vesna Džinić
Number O.br. 2/05
In Belgrade, September 2nd, 2005
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