NACIONALIZACIJA BRITANSKOG KAPITALA U JUGOSLAVIJI I OBEŠTEĆENJE VLASNIKA
THE NATIONALIZATION OF THE BRITISH CAPITAL AND THE COMPENSATION OF THE PROPRIETORS

Summary/Abstract: Referring to the unpublished archive materials from the Public Record Office, the author is dealing with a question which was crucial for the British-Yugoslav economic relations after the Second World War. The role of the British capital in Yugoslavia was substantial, especially in mining and smelting businesses. A distinctive place belonged to the London Company „Selection Trust” which owned 80% of the total British capital in the Yugoslav mining business. After the collapse of the German and Italian resistance in Africa, when the preparations for the landing on the European land in the Mediterranean began., and there Was a possibility of the landing being carried out in the Balkans, Selection Trust raised the question of obtaining control over the pits previously owned by it. Since the alternative of landing in the Balkans was dropped, this question was raised again in September 1944, when the steps were taken in order to send a team of experts as soon as the circumstances allowed it. A group in charge of the task left Sofia late in November 1944, accompanied by a Soviet and a Bulgarian officer, but it was sent back since it had not had the permission from the National Liberation Committee of Yugoslavia for entering Yugoslav territory. Official intervention concerning the prospects of the British-owned enterprises came from the British Government to the President of the National Liberation Committee of Yugoslavia, J. B. Tito in January 1945. He announced that the British property in Yugoslavia would not be expropriated. In keeping with that statement, the permission was given for the representatives of Selection Trust Company to come and look into the state of the „Trepča” mine and smelter, and all the other enterprises owned by this company. In summer 1945, when the Project of the Nationalization Law was issued, the British Government were again assured that the British-owned companies would be returned to their owners. British Government, however, concluded that under the circumstances the special status of the British capital in Yugoslavia was not possible and that all the efforts ought to be directed towards obtaining a fair compensation for the nationalized property., on which a general agreement was to be reached between the two governments. This concept was confirmed in December 1946, after The Law of the Nationalization of Private Industrial Enterprises had been passed. The question of compensation had already been raised in March 1946, when a Yugoslav government delegation саше to London in order to sign commercial treaty. British Government stipulated the signing of that treaty by signing the contract on compensation of the British owners for their property in Yugoslavia first. It was reckoned with the confiscation of Yugoslav property in Great Britain, including the ships. On the other hand, Yugoslav government stipulated the signing of the contract by first signing the commercial treaty. Negotiations followed, and for that reason the Mixed Yugoslav-British Committee was formed; besides, all the British Companies that had financed Yugoslav industry, mines and other businesses, formed a Joint Committee which was very closely related to the authorized government ministries and the members of the Mixed Committee. In this work, the author surveys the course of negotiations until the agreement was reached on March 5, 1948. This agreement was signed at the same time as the commercial treaty and it stated that all the British proprietors were to be paid the global sum of 4,5 million pounds. This was also reflected in the commercial treaty, which said that the installments from the contract on the compensation of the British proprietors were to be paid from the positive balance of Yugoslavia.

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