"Our party has insisted on protecting the state interest and achieved key protection mechanisms through negotiations. Ahead of the adoption of amendments to the Law, we are obliged to inform the public about the proposals submitted by Our party on the latest draft text of the Law on Amendments to the Law on the 'Southern Interconnection Bosnia and Herzegovina and the Republic of Croatia' Gas Pipeline, aimed at enhanced protection of the interests of the Federation of Bosnia and Herzegovina," it was stated.
Protection of the public interest was sought through comprehensive control of the transfer of ownership, management, and commercial rights granted to the Investor, with oversight by the Parliament of the Federation of Bosnia and Herzegovina.
"This demand by Our party's representatives was accepted, stipulating that any direct or indirect change in the ownership or management structure of the Investor, including the acquisition or disposal of more than 15 percent of shares, alienation of economic interests, granting of options, or otherwise encumbering the Investor's shares, is not permitted without prior approval from the Parliament of the Federation of Bosnia and Herzegovina."
The proposal by Our party was accepted that the Investor cannot undertake status and management changes without prior notification to the Government of the Federation of Bosnia and Herzegovina, i.e., the consent of the Parliament of the Federation of Bosnia and Herzegovina for precisely defined changes, or otherwise risks losing the rights granted by the Law.
"Our party proposed that the contractual relations between the Government of the Federation of Bosnia and Herzegovina and the Investor be regulated in accordance with the provisions of the Federation of Bosnia and Herzegovina Concessions Law and obligations arising therefrom, with the proposal that the Law mandatorily prescribe a binding framework of minimum elements of the contract between the Government and the Investor to ensure transparent and comprehensive protection of the public interest. It was accepted that all proposed minimum elements of the contract with the Investor be integrally prescribed by a conclusion of the Government of the Federation of Bosnia and Herzegovina, so that the Government of the Federation of Bosnia and Herzegovina's negotiation team has a transparent and solid basis for negotiations, while the amendments to the Law prescribed the option of using the Federation of Bosnia and Herzegovina Concessions Law," they stated.
The proposal by Our party to delete Article 6 from the current Law, which provided for project financing from budgetary funds, granting state guarantees for credit arrangements, disposal of the Investor's profit by the Government of the Federation of Bosnia and Herzegovina, and other provisions applicable to a public company, was fully accepted.
"The proposal to amend and supplement Article 9, paragraph (3) of the Law, aimed at retaining the unlimited duration of issued environmental permits for the construction of new infrastructure not covered by the existing Environmental Permit, was fully adopted. This ensures continuity and equal access in the process of obtaining new administrative acts not taken over from the previous investor.
To optimize the expropriation process and enhance the protection of the public interest, Our party proposed significant amendments and supplements to the proposed part of the Law concerning expropriation. Notably, the adopted proposal under Article 9, point (5) stipulates that all expropriated properties acquire the status of goods of general interest. This aligns with the provisions of the Law on Property Rights and the Law on Expropriation, facilitating easier expropriation of properties and registration of changes in land registers, while simultaneously protecting the public interest of the Federation of Bosnia and Herzegovina through legally precisely defined disposal of the subject properties."