ZAGREB, June 27, 2018 – The Law on Emergency Administration in Companies of Systemic Importance for the Republic of Croatia will become part of European Union acquis in insolvency procedures and will be published over the next few day in the European Union Official Journal, the government reported on Wednesday.
Prime Minister Andrej Plenković recalled at the cabinet meeting on Wednesday that a year ago, after consulting with the European Commission, the government proposed that the relevant European Union regulation incorporates the Law on Emergency Administration in Companies of Systemic Importance for the Republic of Croatia, the government’s public relations office said in a press release.
“Not only was the law given confirmation by the Constitutional Court that it is in accordance with the Constitution after receiving several complaints, but it has also become part of European Union acquis and it will be published as such in the next few day in the Official Journal of the European Union,” Plenković said.
The prime minister underscored that a decision to that effect was confirmed yesterday at the General Affairs Council attended by Foreign and European Affairs Minister Marija Pejčinović Burić.
That decision has undergone the complete procedure, through all levels of the Council and after it was passed in the European Parliament a few weeks ago, the Council of European Union endorsed that decision yesterday. “We have obtained one more confirmation of the law as part of insolvency legislation that exists at the European Union level. That is an important political success and the true acknowledgement of the quality and nature of the law,” the prime minister said as reported in the press release.