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-6,02%Exchange Bodies
1) Assembly – the Assembly is comprised of all shareholders of the Exchange registered in the Central Register as lawful owners of the Exchange shares on the record date set by the Board of Directors decision to convene the Assembly in compliance with the Law. The Assembly is convened by the Board of Directors in accordance with the Law, and the decision on convening the Assembly is published on the Exchange internet page. The Assembly is held at the Exchange headquarters if by the decision of the Board of Directors on convening the Assembly it is not stipulated otherwise.
2) Board of Directors – The Belgrade Stock Exchange has a Board of Directors that, in compliance with the Law, performs functions of the Supervisory board in companies with two tier government. Board of Directors of the Belgrade Stock Exchange consists of five members from the shareholders of the Exchange, who are elected by the Assembly of the Exchange at the proposal of the existing Board of Directors, for the term of four years, with a possiblity of extension. The structure of the Board of Directors is formed so that following entities are represented: shareholders with the biggest interest in the Exchange capital; shareholders who are at the same time members of the Exchange, taking into account their interest in the Exchange capital and the volume of securities turnover on the Exchange in the period of six months directly preceding the day of defining the proposal of decision for election of members of the Board of Directors; and minority shareholders of the Stock Exchange. Members of the Belgrade Stock Exchange Board of Directors have to fulfill all the requirements prescribed by the Law on Capital Market stipulated for members of an exchange Board of Directors. The Securities and Exchange Commission gives an approval for an election and an assignment of the members of the Board of Directors. The term of newly elected members of the Exchange Board of Directors commences from the day of receiving the consent of the Securities and Exchange Commission, and the term of old members of the Board of Directors is prolonged until the said consent is obtained.
3) Legal Representatives – Belgrade Stock Exchange has a Managing Director that in compliance with the Law, performs functions of the CEO in companies with a single director. Managing Director of the Exchange is a legal representative of the Exchange. Jurisdiction and powers of the Managing Director of the Exchange are more closely regulated by the Articles of Association of the Exchange. In the activities that are, in compliance with the Law and the Articles of Association of the Exchange, subject to prior approval by the Board of Directors of the Exchange, the Exchange is simultaneously (with a co-signature) represented by the Managing Director of the Stock Exchange and one member of the Board of Directors of the Stock Exchange who is elected by Board's members by majority of votes, for a period which may not be longer than one year, with the possibility of re-election.
Exchange Committees
1) Listing Committee – Exchange Commission, which performs services that are relating to the listing of securities on the Stock Exchange, a temporary suspension of trading in securities, delisting of securities from the Stock Exchange, as well as other activities determined by the Rules on Listing of the Belgrade Stock Exchange, in the first instance. Listing Committee has five members appointed by the Board of Directors, selected among the shareholders of the Stock Exchange, the Stock Exchange members, employees of the Exchange and other qualified professionals. A person appointed as a member fo the Listing Committee must have at least three years of experience in working with securities.
2) Disciplinary Committee – Committee of the Stock Exchange that, in accordance with the Rules on Business Operation and Regulations for disciplinary proceedings and disciplinary responsibility of the members of the Exchange and authorized brokers of the Belgrade Stock Exchange, as a first instance authority, initiates and conducts proceedings against members of the Exchange and the authorized brokers to determine the existence of disciplinary violations, and outlines the responsibilities and imposes measures to the executants of the offense. Disciplinary Committee has a chairman and two members, as well as a vice-president and two deputy members. Said persons are appointed by the Board of Directors of the Stock Exchange among qualified experts and employees of the Exchange, with experience in jobs related to trading activities and operations with securities, or economic or procedural law, on the term of one year, with the possibility of re-election. Disciplinary Committee has an obligation to annually and upon request of the Exchange Board of Directors reports the disciplinary proceedings conducted and imposed measures to the Board of Directors. Against the decision of the Disciplinary Committee an appeallation to the Board of Directors of the Exchange may be raised, as the appellate authority in the proceedings.
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