 
. /.  WORLD TRADE  
ORGANIZATION  S/C/N/270 
2 February 2004 
 (04-0382) 
Council for Trade in Services Original:   English 
  
 
NOTIFICATION PURSUANT TO ARTICLE III:3 OF THE  
GENERAL AGREEMENT ON TRADE IN SERVICES  
 
 
 The following notification, dated 12 January 2004, from the delegation of the Republic of 
Macedonia is being circulated to the Member s of the Council for Trade in Services.  
 
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 1. Member notifying: 
 Republic of Macedonia 
 
2. Notification under: 
 Article III, paragraph 3 of the General Agreement on Trade in Services 
 3. Date of entry into force: 
 Amendments to the Law on Banks, entry into force from 8 August 2003 
 
 Duration: 
 Indefinite 
 4. Agency responsible for implementation  and enforcement of the measure: 
 Ministry of Finance 
 National Bank of the Republic of Macedonia  
5. Complete description of the measure
* indicating the modes of supply covered, the effect 
on trade in services (e.g., restrictions/libera lization measures) and the impact of the 
measure on commitments in the Member's schedule and Article II (MFN) exemption 
list, if relevant: 
 
• Reduction of the minimum amount of shares with voting right in a bank for which 
previous agreement by the National Bank is required from 10% to 5%.  
• Specification of the procedure and documen tation enclosed to the application for 
obtaining license for founding and operating a bank and for receiving previous agreement 
or acquiring shares with voting right.   
• The investment by the bank in pension and investment funds, as well as in companies for 
gathering, provision and exchange of informa tion in connection with the claims of the 
banks, is excluded from the limit for the ove rall property of the bank and from the limit 
                                                      
* Including international agreements, recognition measures or other types. S/C/N/270 
Page 2  
 
 of the aggregate amount of capital shares of  the bank in other banks, financial and non-
financial institutions. 
 
6. Members specifically affected, if any: 
 None 
 
7. The texts are available from: 
Ministry of Finance 
Dame Gruev 14 
1000 Skopje 
Republic of Macedonia Tel:  + 389 2 311 6012 
Fax:  + 389 2 311 7280 
website:  www.finance.gov.mk 
 
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