LAW ON FOREIGN CURRENCY TRANSACTIONS (“Official ... - Siepa

39) If it does not apply the official middle exchange rate for accounting and statistics purposes(Article 41 Paragraph 2);40) If it acts contrary to the measures specified in Article 42 of this Law;41) If it acts contrary to the measures specified in Article 43 this Law;42) If it does not keep records on foreign currency operations (Article 53 Paragraph 1);43) If it acts contrary to the Government's regulation (Article 53 Paragraph 2).Article 62A fine of 5,000 to 150,000 dinars shall be imposed on a resident - natural person for amisdemeanor if he:1) Acts contrary to Article 7 Paragraph 1 of this law (Article 7);2) Executes collection, payment or issues order for payment, or performs transfer, on the basisof a contract in which the actual cost is not listed or on the basis of a false public document(Article 8);3) Executes payment and transfer of capital based on direct investments abroad contrary to thelaw governing the foreign trade operations (Article 11 Paragraph 1);4) Executes payment to acquire ownership of real estate abroad, contrary to the law governingownership matters (Article 12 Paragraph 1);5) Fails to comply with the prescribed reporting obligation (Article 12 Paragraph 2, Article 13Paragraph 5, Article 37 Paragraph 1);6) Makes payments for purchases of foreign long-term debt securities contrary to Article 13 Par.2 and 3 this law;7) Makes payment for the purchase of foreign short-term securities (Article 15 Paragraph 2);8) Makes payment, collection, transfer, set-off, and reporting on transactions with financialderivatives contrary to the conditions and manner prescribed by the National Bank of Serbia(Article 16);9) Concludes a foreign credit facility transaction (Article 18 Paragraph 12);10) Keeps foreign currency in the account with a foreign bank contrary to the regulation of theNational Bank of Serbia (Article 27 Paragraph 2);11) Performs payment of insurance premium based on insurance contract concluded with a nonresident- insurance company, which is not allowed by the law that regulates insuranceoperations (Article 30 Paragraph 2);