Attorney at Law office Tashkova Skopje

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	Laws of R. Macedonia
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LAW FOR PROTECTION OF CONSUMERS IN CONTRACTS

FOR CONSUMER LOANS
Fig. Journal of R. Macedonia br.51 the year 13/04/2011

This law completely changed the old law to protect consumers in contracts for consumer loans, the company that will issue credits will be called the Creditor, giving the maximum amount of loans from 20.000 EURO has increased to 75,000 euros, and will still exist as separate legal entities - creditors that will provide financial services over which the control and supervision will be exercised by the Ministry of Economy. Whether this represents a collision course with the Law on financial companies, which accurately determines the performance of what kind of financial services should be performed by a financial company, will be demonstrated the practice. While the Law for FC provides leasing, Law for PCCCL predicts that it is also allowed the execution and leasing from the creditors, but with obligation in the contract to purchase the item after the expiration of the period of the lease. The law begins to apply from 01.October.2011 year.

The new Law for financial companies is in force

The new law which will apply from 1 January 2011, all non-bank financial institutions will be obliged to register for the execution of this activity by submitting a request to the Ministry of Finance, provided the principal amount not less than 6 million denars.
Companies that are already registered and so far he has pursued his business within the powers granted by the Ministry of Economy, within 4 months must apply to the MOF, and the latest 6 months and to complete the process of transformation in financial companies.

The new law for offering financial services on distance is in force

Parallel with the changes that will apply to financial companies, and adopted a law that would be these companies their services to offer electronically or by any other means of telecommunication to end users or consumers. With this approach a step closer to European legislation. This law exists and operates in Bulgaria, Slovenia, Czech Republic, Slovakia, Germany, Austria and some European countries, already invented several new businesses and services that will offer the market and are interesting to the general mass consumers.