Law on Property has been abrogated

On Friday, March 2, Parliament abrogated the Law on Property with its subsequent amendments. According to the Ministry of Economy and Commerce (MEC), once the new Civil Code came into force, the norms of the respective Law are no longer in use, as they do not correspond to the present requirements. MEC says that the provisions of the Civil Code, which refer to the institution of property, are quite detailed and sufficient in order to be implemented. Had Parliament voted another law on property, it would double normative acts in this field. The Law on Property was in effect since January 22, 1991.