House of Peoples of FBiH adopts: Deadline extended for financial consolidation of companies

(Patria) - The House of Peoples of the Parliament of the Federation of Bosnia and Herzegovina adopted at today's session the Law on Amendments and Supplements to the Law on Financial Consolidation of Companies in the FBiH.

The essence of this act is extending the deadline by four years, given that the current one expires at the end of 2023 for the financial consolidation of companies to which the Federal Government approved this process.

It has turned out, namely, that by the end of 2023 it is not possible to complete the already initiated process in every company that entered the financial consolidation procedure, and some new companies, such as mines, have in the meantime expressed interest in the consolidation process.

The deadline is extended by this law until the end of 2027, and the House of Peoples today, as earlier the House of Representatives at its session, tasked the Federal Government to submit to the Parliament within 60 days complete information on the effects of the legal consolidation process in companies from 2014, when this type of law was adopted, until the end of 2023. The information should also include data on the amount of settled and unsettled debts of those companies in the said period.