The proceeding of transformation of legal form of JP “Transnafta” from the form of public company into the legal form of joint-stock company has started based on the Conclusion 05 of the Government of the Republic of Serbia on Adoption of the Baseline for Transformation of the Legal Form of JP “Transnafta” No. 023-9623/2012-1 of 22nd February 2013.
With the above mentioned baseline, the purposes for transformation of the legal form are identified. On one hand, they are arising from the obligations which the Republic of Serbia has taken with the Agreement on Stabilization and Association, concluded with the European Union (“Official Gazette of RS – International Agreements” No. 83/08). These obligations became concrete through orientation towards corporatization of public companies, including JP “Transnafta” as well, presented through the Memorandum on the Budget and Economic and Fiscal Policy for 2011 with the forecast for 2012 and 2013 (“Official Gazette of RS” No.102/2010). On the other hand, it arises from the need for regulation of the energy sector in accordance with the decisions adopted through, so called, Third Package of EU Regulations in the energy sector.
At the meeting held on 28th March 2019, the Supervisory Board of the Public Company for Pipeline Transport of Crude Oil and Petroleum Products has issued the Draft Decision on transformation of the legal form of the Public Company for Pipeline Transport of Crude Oil and Petroleum Products, Pančevo, 1, Zmaj Jove Jovanovića Str., ID 20084731, Tax ID 104061151.
The Draft Decision on transformation from the legal form of public company into the legal form of joint-stock company is adopted due to the expansion of business volume and establishing new modalities of performing the economic activities in order to enable more efficient management of business processes, to carry out economic activities and to make the organizational and business decisions. Thus, the conditions will be created for JP “Transnafta” to operate according to the principles of good corporate governance and business efficiency.
Transformation of the legal form, whereby JP “Transnafta” is transformed from the legal form of a public company to the legal form of a joint-stock company, does not affect the legal personality of JP “Transnafta”. The Company continues to exist as the same legal entity, but in the other legal form.