Regulatory Alerts2007-01-01
Act on the Introduction of the Euro in the Slovak Republic
The National Council of the Slovak Republic enacted Act No. 659/2007 to govern the legal and procedural framework for introducing the euro as the sole legal tender in the country. The legislation mandates the use of a dual display system for prices and payments during the transition period to ensure consumer protection and facilitate adaptation to the new currency. It establishes strict principles of neutrality and continuity for existing legal relations, requiring all conversions to follow specific rounding rules to prevent inflation and maintain the actual financial value of obligations.
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