At the first joint session of both chambers (Federal Assembly and People's Assembly), the Constitutional Assembly adopted a declaration abolishing monarchy and promulgating a republic. King Peter II and the Karadjordjević dynasty were stripped of all rights. The declaration of republic was tantamount to a complete liquidation of the constitutional continuity maintained for foreign political reasons in the period between 1943-1945.

The Declaration said that the FPRY was a federal state of equal peoples who had freely expressed their will to remain united in Yugoslavia.

List of Constituent Acts of Yugoslavia