Conditions for Issuing and Renewing Licence
Conditions for Issuing Licence
Licence for the performance of duties of a bankruptcy administrator (hereinafter: the licence) is issued by the authorised organisation (Bankruptcy Supervision Agency).
The licence is issued to a person who meets the following requirements:
- holds citizenship of the Republic of Serbia;
- has legal contractual capacity;
- has acquired a university education;
- has three years of working experience in positions requiring a university degree or three years of working experience in administering bankruptcies;
- has passed the professional licensing exam
- is trustworthy to act as a bankruptcy administrator.
The application for licence issuance is filed no later than within one year from passing the professional licensing exam. After the expiry of one year from the date of passing the exam, and before the expiry of three years from the date of passing the exam, the application for licence must be accompanied by proof of meeting the requirements for licence renewal, in accordance with this law. Any application for licence issuance filed after the expiry of three years from the date of passing the exam is considered disallowed.
- certificate/diploma of education acquired
- evidence of working experience
- certificate of citizenship
- certificate of legal contractual capacity
- cetcertificate of having passed the professional licensing exam
- certificate of appropriate authority confirming that no criminal proceeding has been initiated, in official capacity, against the applicant
- written statement of the applicant made under penalty of perjury that he/she has not been finally convicted, and if he was convicted the statement about the crimes for which he/she was convicted
- proof of licence issuance fee payment
Conditions for Renewing Licence
The licence is renewed at the request of a bankruptcy administrator, which is submitted to an authorised organisation (Bankruptcy Supervision Agency) no earlier than three months before the expiry of the licence, and no later than 30 days before the expiry of the licence.
The bankruptcy administrator may have his/her licence renewed if he/she:
- meets the licence issuance requirements prescribed by the law;
- submits evidence of having practised as a bankruptcy administrator or having performed other professional activities related to bankruptcy over the previous two years;
- has conscientiously performed the duties of a bankruptcy administrator in accordance with the Law, the National Standards for Administering the Bankruptcy Estate, and the Code of Ethics during the preceding term of validity of his/her licence;
- providesubmits proof of having paid the licence renewal fee as prescribed by the tariff for pricing authorised organisation’s services;
- submits proof of having paid all liabilities for fines imposed by the authorised organisation during the procedure of professional supervision.
A person not meeting the requirement of paragraph 2(2) of this Article must for the purpose of licence renewal provide evidence that he/she has annually attended at least three professional seminars or courses on the conduct of bankruptcy proceedings offered or recognised by the authorised organisation.
A person not meeting the requirement of paragraph 2(3) of this Article may not be issued a new licence either.
The licence may be revoked even before its expiry in case the procedure undertaken upon a petition filed by an interested party, or in official capacity, results in the finding that the bankruptcy administrator in question has failed to conscientiously perform the duties provided for in the Law, National Standards for Administering the Bankruptcy Estate and the Code of Ethics.
In cases from paragraphs 4and 5 of this Article the authorised organisation renders a decision denying the application for renewal or a decision revoking the licence, based on which the bankruptcy administrator is stricken off the Register of Licensed Bankruptcy Administrators.
The decisions from paragraph 6 of this Article are final and may be subject of administrative dispute. The authorised organisation notifies, without delay, all courts in charge of bankruptcy proceedings of any changes to the status of a licensed bankruptcy administrator.
Bankruptcy administrator whose licence was revoked or whose application for licence renewal was denied on grounds referred to in paragraph 4 of this Article may not be issued a new licence within a period of five years from the finality of the decision revoking the licence or the decision denying the licence renewal.
- proof of licence renewal fee payment;
- statement of the bankruptcy administrator made under penalty of perjury that he/sheremains eligible for licence (if there are any changes in this regard, the evidence of those changes);
- evidence of having practised as a bankruptcy administrator or having performed other bankruptcy-related activities in a professional capacity over the previous two years; and if these functions have not been performed, evidence of having attended at least three bankruptcy-related professional seminars or courses per year that are organised or recognised by the authorised organisation (the Agency);
- statement confirming that no disciplinary measure have been imposed on him/her during his/her licence validity period, or the statement of the disciplinary measures imposed during this period;
- proof of having paid all fines, if any, imposed by the authorised organisation in the procedure of professional supervision.