Zákon č. 747/2004 Z. z. o dohľade nad finančným trhom a o zmene a doplnení niektorých zákonov (Act No 747/2004 Coll. on Financial Market Supervision and on amendments to certain acts) — SK-LAW — SK

English translation of the Slovak text from static.slov-lex.sk (the Slovak text is the official one). Retrieved 2026-10-26.

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Act number: 747/2004 Z. z.

Title: Act on the Supervision of the Financial Market and on the Amendment and Supplement to Certain Acts

Type: Act

Date of approval: 02.12.2004

Date of promulgation: 30.12.2004

Effective from: 01.03.2026

Effective until: 19.11.2026

Author: National Council of the Slovak Republic

Legal area: Banking and Money Market Insurance Economic Competition Banking and Financial Institutions Financial Market Management Supervisory Authorities

Contained in issue: 304/2004

506/2007 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure on the submission of reports by management companies for collective investment undertakings for statistical purposes

650/2007 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure on the submission of reports, notifications, statements and other information by the Slovak Insurance Bureau

651/2007 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure on the submission of reports by the securities exchange and the central securities depository for the purposes of financial market supervision

652/2007 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure on the submission of reports by management companies and depositaries of collective investment undertakings for the purposes of financial market supervision

246/2014 Z. z.

Announcement of the National Bank of Slovakia on the issuance of the measure of 2 September 2014 No. 17/2014 on the submission of reports by banks, branches of foreign banks, securities traders or branches of foreign securities traders for statistical purposes

247/2014 Z. z.

Announcement of the National Bank of Slovakia on the issuance of the measure of 2 September 2014 No. 18/2014 on the submission of a report by a management company for a collective investment undertaking or sub-fund for statistical purposes

350/2014 Z. z.

Announcement of the National Bank of Slovakia on the issuance of the measure of 9 December 2014 No. 22/2014 on the submission of reports by a payment institution, a branch of a foreign payment institution, an electronic money institution or a branch of a foreign electronic money institution for statistical purposes.

43/2015 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure on the submission of information by managers of alternative investment funds for the purposes of supervision and systemic risk monitoring

51/2015 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure amending and supplementing the measure of the National Bank of Slovakia No. 13/2014 on the submission of reports, notifications and other statements by securities traders and branches of foreign securities traders for the purposes of exercising supervision

69/2015 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure amending the measure of the National Bank of Slovakia No. 8/2012 on fees for the acts of the National Bank of Slovakia as amended by measure No. 8/2013

256/2015 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure on solvency for insurance undertakings subject to the special regime

441/2015 Z. z.

Measure of the National Bank of Slovakia on the own funds of a pension management company

32/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of the measure of 24 November 2015 No. 16/2015 on the submission of reports and other information by the Slovak Insurance Bureau.

35/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of the measure of 1 December 2015 No. 22/2015, amending and supplementing the measure of the National Bank of Slovakia No. 18/2014 on the submission of a report by a management company for a collective investment undertaking or sub-fund for statistical purposes.

36/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of the measure of 1 December 2015 No. 21/2015, amending and supplementing the measure of the National Bank of Slovakia No. 17/2014 on the submission of reports by banks, branches of foreign banks, securities traders or branches of foreign securities traders for statistical purposes (announcement No. 246/2014 Z. z.).

37/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of the measure of 1 December 2015 No. 20/2015 on the submission of reports by an insurance undertaking, a reinsurance undertaking, a branch of a foreign insurance undertaking, a branch of a foreign reinsurance undertaking, an insurance undertaking from another Member State, a reinsurance undertaking from another Member State, a pension management company and a supplementary pension company.

62/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of the measure of 8 December 2015 No. 30/2015 on providing information on the net asset value in supplementary pension funds

64/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of the measure of 8 December 2015 No. 27/2015, amending and supplementing the measure of the National Bank of Slovakia of 18 December 2007 No. 16/2007 on the submission of reports by the securities exchange and the central securities depository for the purposes of financial market supervision as amended by measure No. 24/2008

66/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of the measure of the National Bank of Slovakia of 15 December 2015 No. 33/2015, amending the measure of the National Bank of Slovakia No. 8/2012 on fees for the acts of the National Bank of Slovakia as amended by subsequent legislation

67/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of the measure of 15 December 2015 No. 36/2015 on the submission of reports and notifications by an insurance undertaking subject to the special regime

87/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of measure No. 1/2016 on the submission of reports, notifications, overviews and other statements by an insurance undertaking not subject to the special regime or by a reinsurance undertaking

96/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure of the National Bank of Slovakia of 16 February 2016 No. 2/2016 on the own funds of a supplementary pension company.

228/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure of the National Bank of Slovakia of 26 July 2016 No. 3/2016 on annual reports and half-year reports submitted by a supplementary pension company

229/2016 Z. z.

Measure of the National Bank of Slovakia on annual reports and half-year reports submitted by a pension management company

267/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure of 27 September 2016 No. 4/2016 on the content of the report on the results of the activities of the risk management unit of an insurance undertaking to which a special regime applies

336/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure of 22 November 2016 No. 7/2016 amending Measure of the National Bank of Slovakia No. 1/2015 on the submission of information by managers of alternative investment funds for the purposes of supervision and systemic risk monitoring

361/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure of 13 December 2016 No. 8/2016 on the submission of returns by an insurance undertaking, reinsurance undertaking, branch of a foreign insurance undertaking, branch of a foreign reinsurance undertaking, insurance undertaking from another Member State, reinsurance undertaking from another Member State, pension management company or supplementary pension company

362/2016 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure of 13 December 2016 No. 9/2016 amending and supplementing Measure of the National Bank of Slovakia No. 17/2014 on the submission of returns by banks, branches of foreign banks, securities firms or branches of foreign securities firms for statistical purposes

157/2017 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure of 30 May 2017 No. 1/2017 on risks and the risk management and measurement system, the calculation of total risk and counterparty risk in supplementary pension funds

169/2017 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure of 20 June 2017 No. 2/2017 amending Measure of the National Bank of Slovakia No. 8/2012 on fees for acts of the National Bank of Slovakia as amended

312/2017 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure of 28 November 2017 No. 11/2017 amending and supplementing Measure of the National Bank of Slovakia No. 17/2014 on the submission of returns by banks, branches of foreign banks, securities firms or branches of foreign securities firms for statistical purposes (Announcement No. 246/2014 Z. z.)

313/2017 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure of 28 November 2017 No. 12/2017 amending and supplementing Measure of the National Bank of Slovakia No. 22/2014 on the submission of returns by a payment institution, branch of a foreign payment institution, electronic money institution or branch of a foreign electronic money institution for statistical purposes (Announcement No. 350/2014 Z. z.)

342/2017 Z. z.

Announcement of the National Bank of Slovakia on the issuance of a measure of 12 December 2017 No. 16/2017 amending and supplementing Measure of the National Bank of Slovakia of 18 December 2007 No. 16/2007 on the submission of returns by a stock exchange and the central securities depository for the purposes of financial market supervision as amended.

40/2018 Z. z.

Announcement of the National Bank of Slovakia on the issuance of the measure of 13 February 2018 No. 4/2018, amending and supplementing the measure of the National Bank of Slovakia No. 8/2012 on fees for acts of the National Bank of Slovakia as amended

298/2018 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 25 September 2018 No. 11/2018 on the submission of reports by management companies, foreign management companies, self-governing investment funds and fund depositaries for the purposes of financial market supervision

390/2018 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 11 December 2018 No. 16/2018 on the submission of reports on the performance of financial intermediation and reports on the performance of financial advisory services

17/2019 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 18 December 2018 No. 17/2018, amending and supplementing the measure of the National Bank of Slovakia of 29 July 2014 No. 13/2014 on the submission of reports, notifications and other reports by securities dealers and branches of foreign securities dealers for the purposes of supervision

261/2019 Coll.

Announcement of the National Bank of Slovakia on the issuance of a decision on an intervention measure

273/2019 Coll.

Announcement of the National Bank of Slovakia on the issuance of the decision of 21 August 2019 No. 17/2019 on an intervention measure in relation to contracts for differences

277/2019 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 27 August 2019 No. 2/2019 on reports submitted by a supplementary pension company for the purposes of providing information to the National Bank of Slovakia and European supervisory authorities

164/2020 Coll.

Announcement on the issuance of the measure of the National Bank of Slovakia of 9 June 2020 No. 2/2020 on the method of demonstrating compliance with the conditions for granting authorisation to create and manage standard funds and European standard funds and for granting authorisation to create and manage alternative investment funds and foreign alternative investment funds

293/2020 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 13 October 2020 No. 3/2020, amending and supplementing the measure of the National Bank of Slovakia No. 8/2019 on the submission of reports by payment institutions, branches of foreign payment institutions, electronic money institutions and branches of foreign electronic money institutions

27/2021 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 12 January 2021 No. 1/2021, supplementing the measure of the National Bank of Slovakia of 18 December 2007 No. 16/2007 on the submission of reports by a stock exchange and a central securities depository for the purposes of financial market supervision as resulting from amendments made by measure No. 24/2008, measure No. 27/2015 and measure No. 16/2017

234/2021 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 25 May 2021 No. 5/2021 on fees for acts of the National Bank of Slovakia

276/2021 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 21 June 2021 No. 7/2021 on the submission of reports by a payment institution, a branch of a foreign payment institution, an electronic money institution or a branch of a foreign electronic money institution for statistical purposes

277/2021 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 21 June 2021 No. 8/2021 on the submission of reports by banks, branches of foreign banks, securities dealers or branches of foreign securities dealers for statistical purposes

425/2021 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 25 October 2021 No. 12/2021 on the submission of reports by an insurance company, a reinsurance company, a branch of a foreign insurance company, a branch of a foreign reinsurance company, an insurance company from another Member State, a reinsurance company from another Member State, a pension management company or a supplementary pension company

21/2022 Coll.

Measure of the National Bank of Slovakia on the submission of reports by securities dealers for the purpose of ensuring the collection of data under a special regulation

38/2022 Coll.

Measure of the National Bank of Slovakia on the provision of information by providers of the pan-European personal pension product to the National Bank of Slovakia

138/2022 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 29 March 2022 No. 1/2022 on the submission of reports by a branch of a foreign insurance company and a branch of a foreign reinsurance company

139/2022 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 29 March 2022 No. 2/2022, amending and supplementing the measure of the National Bank of Slovakia of 26 January 2016 No. 1/2016 on the submission of reports, notifications, overviews and other reports by an insurance company to which a special regime does not apply, or a reinsurance company

322/2022 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of the National Bank of Slovakia of 5 September 2022 No. 7/2022 on the submission of reports by securities dealers for the purpose of ensuring the collection of data under a special regulation

501/2022 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 19 December 2022 No. 11/2022 on the provision of information by providers of the pan-European personal pension product to the National Bank of Slovakia

11/2023 Coll.

Measure of the National Bank of Slovakia amending and supplementing the measure of the National Bank of Slovakia of 11 December 2018 No. 16/2018 on the submission of reports on the performance of financial intermediation and reports on the performance of financial advisory services

23/2023 Coll.

Measure of the National Bank of Slovakia amending and supplementing the measure of the National Bank of Slovakia of 29 July 2014 No. 13/2014 on the submission of reports, notifications and other reports by securities dealers and branches of foreign securities dealers for the purposes of supervision, as amended

30/2023 Coll.

Measure of the National Bank of Slovakia on the submission of reports by payment institutions, branches of foreign payment institutions, electronic money institutions, branches of foreign electronic money institutions, providers of payment services in a limited scope and banks

33/2023 Coll.

Measure of the National Bank of Slovakia amending and supplementing the measure of the National Bank of Slovakia of 21 June 2021 No. 7/2021 on the submission of reports by a payment institution, a branch of a foreign payment institution, an electronic money institution or a branch of a foreign electronic money institution for statistical purposes

38/2023 Coll.

Measure of the National Bank of Slovakia amending and supplementing the measure of the National Bank of Slovakia of 21 June 2021 No. 8/2021 on the submission of reports by banks, branches of foreign banks, securities dealers or branches of foreign securities dealers for statistical purposes

235/2023 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 22 May 2023 No. 3/2023, amending and supplementing the measure of the National Bank of Slovakia of 11 December 2018 No. 16/2018 on the submission of reports on the performance of financial intermediation and reports on the performance of financial advisory services

465/2023 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 7 November 2023 No. 6/2023, amending and supplementing the measure of the National Bank of Slovakia of 29 July 2014 No. 13/2014 on the submission of reports, notifications and other reports by securities dealers and branches of foreign securities dealers for the purposes of supervision, as amended

484/2023 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 20 November 2023 No. 7/2023 on the submission of reports by payment institutions, branches of foreign payment institutions, electronic money institutions, branches of foreign electronic money institutions, providers of payment services in a limited scope and banks

494/2023 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 5 December 2023 No. 11/2023, amending and supplementing the measure of the National Bank of Slovakia of 21 June 2021 No. 7/2021 on the submission of reports by a payment institution, a branch of a foreign payment institution, an electronic money institution or a branch of a foreign electronic money institution for statistical purposes

503/2023 Coll.

Announcement of the National Bank of Slovakia on the issuance of the measure of 5 December 2023 No. 12/2023, amending and supplementing the measure of the National Bank of Slovakia of 21 June 2021 No. 8/2021 on the submission of reports by banks, branches of foreign banks, securities dealers or branches of foreign securities dealers for statistical purposes

9/2024 Coll.

Measure of the National Bank of Slovakia on annual reports and semi-annual reports submitted by a supplementary pension company

10/2024 Coll.

Measure of the National Bank of Slovakia on the submission of reports by a pension management company and a supplementary pension company for the purposes of supervision

11/2024 Coll.

Measure of the National Bank of Slovakia amending and supplementing the Measure of the National Bank of Slovakia of 25 September 2018 No. 11/2018 on the submission of reports by management companies, foreign management companies, self-governing investment funds and fund depositaries for the purposes of financial market supervision

16/2024 R. o.

Measure of the National Bank of Slovakia on the submission of reports and other information by the Slovak Insurers' Bureau

18/2024 R. o.

Measure of the National Bank of Slovakia amending and supplementing the Measure of the National Bank of Slovakia of 25 May 2021 No. 5/2021 on fees for acts of the National Bank of Slovakia

134/2024 Z. z.

Measure of the National Bank of Slovakia on annual reports and semi-annual reports submitted by a pension management company

138/2024 Z. z.

Notice of the National Bank of Slovakia on the issuance of Measure of 3 June 2024 No. 2/2024 on annual reports and semi-annual reports submitted by a supplementary pension company

155/2024 Z. z.

Notice of the National Bank of Slovakia on the issuance of Measure of 3 June 2024 No. 3/2024 on the submission of reports by a pension management company and a supplementary pension company for the purposes of performing supervision

156/2024 Z. z.

Notice of the National Bank of Slovakia on the issuance of Measure of 3 June 2024 No. 4/2024 amending and supplementing the Measure of the National Bank of Slovakia of 25 September 2018 No. 11/2018 on the submission of reports by management companies, foreign management companies, self-governing investment funds and fund depositaries for the purposes of financial market supervision

333/2024 Z. z.

Notice of the National Bank of Slovakia on the issuance of Measure of 5 November 2024 No. 6/2024 on the submission of reports and other information by the Slovak Insurers' Bureau

347/2024 Z. z.

Notice of the National Bank of Slovakia on the issuance of Measure of 3 December 2024 No. 8/2024 amending and supplementing the Measure of the National Bank of Slovakia of 25 May 2021 No. 5/2021 on fees for acts of the National Bank of Slovakia

6/2025 R. o.

Measure of the National Bank of Slovakia on the submission of reports by crypto-asset service providers

18/2025 R. o.

Measure of the National Bank of Slovakia on the submission of reports by management companies, foreign management companies, alternative investment fund managers and self-governing investment funds for statistical purposes

30/2025 R. o.

Measure of the National Bank of Slovakia on the submission of reports, notifications and statements by an insurance undertaking to which a special regime does not apply, a reinsurance undertaking, a branch of an insurance undertaking from another Member State or a branch of a reinsurance undertaking from another Member State

31/2025 R. o.

Measure of the National Bank of Slovakia on the submission of reports by crowdfunding service providers

79/2025 Z. z.

Notice of the National Bank of Slovakia on the issuance of Measure of 24 March 2025 No. 3/2025 on the submission of reports by crypto-asset service providers

296/2025 Z. z.

Notice of the National Bank of Slovakia on the issuance of Measure of 21 October 2025 No. 8/2025 on the submission of reports by management companies, foreign management companies, alternative investment fund managers and self-governing investment funds for statistical purposes

422/2025 Z. z.

Notice of the National Bank of Slovakia on the issuance of Measure of 3 December No. 9/2025 on the submission of reports, notifications and statements by an insurance undertaking to which a special regime does not apply, a reinsurance undertaking, a branch of an insurance undertaking from another Member State or a branch of a reinsurance undertaking from another Member State

423/2025 Z. z.

Notice of the National Bank of Slovakia on the issuance of Measure of 3 December 2025 No. 10/2025 on the submission of reports by crowdfunding service providers

530/1990 Zb.

Act on Bonds

566/1992 Zb.

Act of the National Council of the Slovak Republic on the National Bank of Slovakia

202/1995 Z. z.

Act of the National Council of the Slovak Republic Foreign Exchange Act and the Act amending and supplementing Act of the Slovak National Council No. 372/1990 Zb. on misdemeanours, as amended

118/1996 Z. z.

Act of the National Council of the Slovak Republic on deposit protection and on the amendment and supplementation of certain acts

211/2000 Z. z.

Act on free access to information and on the amendment and supplementation of certain acts (Freedom of Information Act)

281/2001 Z. z.

Act on package tours, conditions of business of travel agencies and travel agents and on the amendment and supplementation of the Civil Code, as amended

381/2001 Z. z.

Act on compulsory contractual insurance of liability for damage caused by the operation of a motor vehicle and on the amendment and supplementation of certain acts

483/2001 Z. z.

Act on Banks and on the amendment and supplementation of certain acts

566/2001 Z. z.

Act on securities and investment services and on the amendment and supplementation of certain acts (Securities Act)

95/2002 Z. z.

Act on Insurance and on the amendment and supplementation of certain acts

96/2002 Z. z.

Act on Financial Market Supervision and on the amendment and supplementation of certain acts

291/2002 Z. z.

Act on the State Treasury and on the amendment and supplementation of certain acts

429/2002 Z. z.

Act on the Stock Exchange

510/2002 Z. z.

Act on Payment Services and on Amendments and Supplements to Certain Acts

594/2003 Coll.

Act on Collective Investment and on Amendments and Supplements to Certain Acts

43/2004 Coll.

Act on Old-Age Pension Savings and on Amendments and Supplements to Certain Acts

523/2004 Coll.

Act on Budgetary Rules of Public Administration and on Amendments and Supplements to Certain Acts

582/2004 Coll.

Act on Local Taxes and the Local Fee for Municipal Waste and Small Construction Waste

639/2004 Coll.

Act on the National Motorway Company and on Amendments and Supplements to Act No. 135/1961 Coll. on Land Communications (Road Act) as amended

650/2004 Coll.

Act on Supplementary Pension Savings and on Amendments and Supplements to Certain Acts

340/2005 Coll.

Act on Insurance Intermediation and Reinsurance Intermediation and on Amendments and Supplements to Certain Acts

519/2005 Coll.

Act amending and supplementing Act of the National Council of the Slovak Republic No. 566/1992 Coll. on the National Bank of Slovakia as amended and on Amendments and Supplements to Certain Acts

214/2006 Coll.

Act amending and supplementing Act No. 483/2001 Coll. on Banks and on Amendments and Supplements to Certain Acts as amended and on Amendments and Supplements to Certain Acts

644/2006 Coll.

Act amending and supplementing Act No. 483/2001 Coll. on Banks and on Amendments and Supplements to Certain Acts as amended and on Amendments and Supplements to Certain Acts

659/2007 Coll.

Act on the Introduction of the Euro Currency in the Slovak Republic and on Amendments and Supplements to Certain Acts

8/2008 Coll.

Act on Insurance and on Amendments and Supplements to Certain Acts

552/2008 Coll.

Act amending and supplementing Act No. 566/2001 Coll. on Securities and Investment Services and on Amendments and Supplements to Certain Acts (Securities Act) as amended and on Amendments and Supplements to Certain Acts

186/2009 Coll.

Act on Financial Intermediation and Financial Advisory Services and on Amendments and Supplements to Certain Acts

276/2009 Coll.

Act on Measures to Mitigate the Effects of the Global Financial Crisis on the Banking Sector and on Amendments and Supplements to Certain Acts

492/2009 Coll.

Act on Payment Services and on Amendments and Supplements to Certain Acts

129/2010 Coll.

Act on Consumer Credits and Other Credits and Loans for Consumers and on Amendments and Supplements to Certain Acts

203/2011 Coll.

Act on Collective Investment

394/2011 Coll.

Act amending and supplementing Act No. 492/2009 Coll. on Payment Services and on Amendments and Supplements to Certain Acts as amended by Act No. 130/2011 Coll. and amending and supplementing certain acts

547/2011 Coll.

Act amending and supplementing Act No. 431/2002 Coll. on Accounting as amended and on Amendments and Supplements to Certain Acts

132/2013 Coll.

Act amending and supplementing Act No. 483/2001 Coll. on Banks and on Amendments and Supplements to Certain Acts as amended and amending and supplementing certain acts

352/2013 Coll.

Act amending and supplementing Act No. 431/2002 Coll. on Accounting as amended and amending and supplementing certain acts

213/2014 Coll.

Act amending and supplementing Act No. 483/2001 Coll. on Banks and on Amendments and Supplements to Certain Acts as amended and amending and supplementing certain acts

373/2014 Coll.

Act amending and supplementing Act No. 747/2004 Coll. on Financial Market Supervision and on Amendments and Supplements to Certain Acts as amended and amending and supplementing certain acts

374/2014 Coll.

Act on State Claims and on Amendments and Supplements to Certain Acts

90/2016 Coll.

Act on Housing Loans and on Amendments and Supplements to Certain Acts

292/2016 Coll.

Act amending and supplementing Act No. 566/2001 Coll. on Securities and Investment Services and on Amendments and Supplements to Certain Acts (Securities Act) as amended and amending and supplementing certain acts

237/2017 Coll.

279/2017 Coll.

Act amending and supplementing Act No. 483/2001 Coll. on Banks and on Amendments and Supplements to Certain Acts as amended and amending and supplementing certain acts

214/2018 Coll.

Act amending and supplementing Act No. 39/2015 Coll. on insurance and on the amendment and supplementation of certain acts, as amended, and amending and supplementing certain acts

373/2018 Coll.

Act amending and supplementing Act No. 371/2014 Coll. on the resolution of crises on the financial market and on the amendment and supplementation of certain acts, as amended, and amending and supplementing certain acts

209/2021 Coll.

Act amending and supplementing Act No. 566/2001 Coll. on securities and investment services and on the amendment and supplementation of certain acts (the Securities Act), as amended, and amending and supplementing certain acts

129/2022 Coll.

Act on the pan-European personal pension product and on the amendment and supplementation of certain acts

192/2023 Coll.

Act on the criminal register and on the amendment and supplementation of certain acts

106/2024 Coll.

Act on credit administrators and credit purchasers and on the amendment and supplementation of certain acts

108/2024 Coll.

Act on consumer protection and on the amendment and supplementation of certain acts

248/2024 Coll.

Act on certain obligations and rights in the area of crypto-assets and on the amendment and supplementation of certain acts

334/2024 Coll.

Act amending and supplementing Act No. 747/2004 Coll. on supervision of the financial market and on the amendment and supplementation of certain acts, as amended, and amending and supplementing certain acts

187/2025 Coll.

Act supplementing Act No. 566/2001 Coll. on securities and investment services and on the amendment and supplementation of certain acts (the Securities Act), as amended, and amending and supplementing certain acts

312/2025 Coll.

Act on consumer credit and on other credits and loans for consumers and on the amendment and supplementation of certain acts

30/2026 Coll.

Act amending and supplementing Act No. 483/2001 Coll. on banks and on the amendment and supplementation of certain acts, as amended, and amending and supplementing certain acts

170/2002 Coll.

Decree of the Ministry of Finance of the Slovak Republic on the amount of fees for acts of the Financial Market Authority

747

ACT

of 2 December 2004

on supervision of the financial market and on the amendment and supplementation of certain acts

The National Council of the Slovak Republic has resolved on this Act:

Art. I

PART ONE

BASIC PROVISIONS

§ 1

Subject matter and scope of regulation

(1)

This Act governs the general rules of procedure in supervision of the financial market in the areas of banking, the capital market, insurance and pension saving, which is carried out by the National Bank of Slovakia. The aim of supervision of the financial market is to contribute to the stability of the financial market as a whole, as well as to the safe and sound functioning of the financial market in the interest of maintaining the credibility of the financial market, the protection of financial consumers and other clients on the financial market and respect for the rules of economic competition.

(2)

Supervision of the financial market, including prudential supervision at the macro level and also including the performance of supervision in the area of protection of financial consumers (hereinafter referred to as "protection of financial consumers"), is carried out by the National Bank of Slovakia under this Act and under special regulations. 1 )

(3)

The National Bank of Slovakia, within the framework of supervision of the financial market

carries out supervision of supervised financial market entities, namely banks, branches of foreign banks, securities dealers, branches of foreign securities dealers, stock exchanges, data reporting service providers, central securities depositories, providers of crowdfunding services, management companies, branches of foreign management companies, unit trusts, investment funds with variable share capital, foreign collective investment undertakings, insurance companies, reinsurance companies, branches of foreign insurance companies, branches of foreign reinsurance companies, branches of insurance companies from another Member State, branches of reinsurance companies from another Member State, pension management companies, pension funds, supplementary pension insurance companies, supplementary pension companies, supplementary pension funds, payment institutions, branches of foreign payment institutions, providers of payment services in a limited range, providers of account information services, electronic money institutions, branches of foreign electronic money institutions, independent financial agents, financial advisers, creditors and other creditors defined by a special act, 1aa ) providers of crypto-asset services and issuers of asset-referenced tokens, credit administrators, providers of credit services, credit purchasers and representatives of credit purchasers from third countries under a special regulation, 1aaaa ) the Deposit Protection Fund, the Investment Guarantee Fund, the Slovak Insurance Office, consolidated entities, sub-consolidated entities, financial holding companies, mixed financial holding companies, financial conglomerates and, to the extent laid down by this Act or a special regulation, 1 ) also other persons, other special-purpose asset associations and groups of persons and special-purpose asset associations to which special regulations 1 ) in the area of banking, the capital market, the crypto-asset market, 1aab ) insurance or pension saving impose obligations (hereinafter referred to as "supervised entity"); the National Bank of Slovakia, in supervising supervised entities

lays down the rules of prudential business, the rules of safe operation and other requirements for the business of supervised entities,

supervises compliance with the provisions of this Act, special acts 1 ) and other generally binding legal regulations that apply to supervised entities or to their activities, as well as compliance with the provisions of legally binding acts of the European Union that apply to supervised entities or to their activities, if those legally binding acts so provide,

conducts proceedings, grants authorisations, licences, consents and prior consents, imposes sanctions and remedial measures, issues other decisions, opinions, methodological guidelines and recommendations under this Act and special regulations, and supervises compliance with its decisions, including compliance with the conditions specified in those decisions,

performs on-site supervision and off-site supervision over supervised entities,

identifies, monitors and assesses risks threatening financial stability, and by preventing and mitigating these risks contributes to strengthening the resilience of the financial system and limiting the growth of systemic risks in the interest of protecting the stability of the financial system as a whole,

performs the protection of financial consumers, including handling submissions of financial consumers and other clients of supervised entities and submissions of consumer associations related to the offering or provision of financial services or other transactions of supervised entities; a financial consumer means a consumer 1aaa ) in the financial market with whom, when offering a financial service or when concluding or performing a consumer contract for the provision of a financial service, a supervised entity or a person acting on behalf of or for the account of a supervised entity acts,

performs tasks, activities and powers within the single supervisory mechanism in cooperation with the European Central Bank under special regulations, 1ab )

performs supervision over the Export-Import Bank of the Slovak Republic to the extent under a special regulation; 1a ) in performing this supervision, this Act shall be followed,

issues generally binding legal regulations to implement this Act and special laws 1 ) in the area of the financial market, if those laws so provide,

cooperates with the Ministry of Finance of the Slovak Republic 2 ) (hereinafter referred to as the "ministry") and the Ministry of Labour, Social Affairs and Family of the Slovak Republic 2 ) in the preparation of draft laws and other generally binding legal regulations in the area of the financial market,

cooperates and exchanges information to the extent necessary for the performance of its tasks and under the conditions laid down by this Act and special regulations, 1b ) namely with the European Central Bank, 1ab ) with the participants of the European System of Financial Supervision, 1b ) with foreign financial market supervisory authorities (hereinafter referred to as "foreign supervisory authority"), with the European Commission, with other public authorities in the Slovak Republic and in other states and with other persons who have information about supervised entities or whose activity is related to supervised entities,

submits to the National Council of the Slovak Republic 3 ) and the Government of the Slovak Republic twice a year reports on financial stability 3a ) by the end of the relevant calendar half-year and publishes these reports,

performs other activities and powers in the area of the financial market under this Act and special regulations. 1b )

§ 2

General principles of the performance of supervision

(1)

In performing supervision over supervised entities, Národná banka Slovenska ascertains and evaluates information and documents on facts concerning a supervised entity and its activity or other persons whose status, transactions or other activity is related to the supervised entity, in particular on deficiencies in the activity of supervised entities, the causes of identified deficiencies, the consequences of identified deficiencies and the persons responsible for the identified deficiencies. In performing supervision, this Act shall be followed, unless a special regulation 1 ) provides otherwise.

(2)

Supervision over supervised entities is non-public and is performed as supervision on an individual basis over individual supervised entities, as supervision on a consolidated basis over groups of persons and purpose-built asset associations that also include supervised entities, and as supplementary supervision over financial conglomerates. Supervision on a consolidated basis and supplementary supervision over financial conglomerates shall not replace supervision on an individual basis.

(3)

The subject of supervision over supervised entities does not include the resolution or decision of disputes arising from legal relationships between supervised entities and their clients, for the hearing, decision or resolution of which courts or other authorities are competent under special regulations. 4 )

(4)

In performing supervision, Národná banka Slovenska and its employees who perform supervision on behalf of Národná banka Slovenska (hereinafter referred to as "person entrusted with the performance of supervision") shall have the powers under this Act and special regulations. Národná banka Slovenska shall be responsible for the performance of supervision. Persons entrusted with the performance of supervision shall not be liable to third parties for consequences caused by the performance of supervision; this shall not affect their labour-law liability towards Národná banka Slovenska or their criminal liability.

(5)

Members of the Bank Board of Národná banka Slovenska (hereinafter referred to as the "Bank Board"), persons entrusted with the performance of supervision and other employees of Národná banka Slovenska are obliged to maintain confidentiality 5 ) about information obtained in the supervision over supervised entities, including records of supervision performed and files on proceedings before Národná banka Slovenska; the provisions of a special law 5 ) shall apply to this obligation of confidentiality and to release from the obligation of confidentiality, unless this Act provides otherwise. On the basis of information obtained in the supervision over supervised entities, Národná banka Slovenska and persons entrusted with the performance of supervision may make available and provide to third parties only information published under this Act or a special regulation 1 ) and other information in aggregate form from which it is not possible to identify which specific supervised entity or which other specific person is concerned, unless this Act or a special regulation 1 ) provides otherwise.

(6)

If, in the performance of supervision, Národná banka Slovenska ascertains facts indicating that a criminal offence has been committed, it shall immediately report this to the competent authority active in criminal proceedings. If the National Bank of Slovakia, in the performance of supervision, discovers an unusual business transaction or a breach of the obligations of supervised entities in preventing or detecting the legalisation of income from criminal activity and the financing of terrorism, it shall immediately notify the financial police service of the Police Force and the state authority that performs tasks in the area of the protection of the constitutional order, internal order and security of the state.

(7)

The supervised entity, the members of its bodies, its employees and other persons whose activity is connected with the supervised entity are obliged to enable the performance of supervision, to refrain from conduct that could frustrate the performance of supervision, and to provide in the state language all information, documentation, cooperation and assistance requested by the National Bank of Slovakia or by persons authorised to perform supervision for the purposes of the performance of supervision; if the documentation is drawn up in a language other than the state language, the supervised entity is obliged to submit, at its own expense, also an officially certified translation of the documentation into the state language. On the basis of a written proposal of the supervised entity, the National Bank of Slovakia may waive the submission of an officially certified translation of documentation or other information into the state language, if this is permissible under special regulations 5a ) and if it concerns documentation or other information drawn up in the Czech language or in a language commonly used in the area of international finance; however, the National Bank of Slovakia is also authorised, additionally, according to its needs, to request the supervised entity to submit an officially certified translation of the relevant documentation or other information into the state language. The supervised entity is obliged to enable persons authorised to perform supervision to participate in the meetings of its general meeting, supervisory board, statutory body or other body of its that manages or controls the activity of the supervised entity, whereby the supervised entity is obliged to deliver notification of the date and the agenda of each meeting of such body to the National Bank of Slovakia at least three working days in advance.

(8)

The National Bank of Slovakia is also authorised, outside proceedings on the imposition of a remedial measure or sanction, to discuss or otherwise handle problems and irregularities in the activity of the supervised entity with the members of its statutory body, supervisory board or other body managing or controlling the activity of the supervised entity, or with its senior employees 6 ) and the heads of the internal control and internal audit unit; these persons are obliged to provide the National Bank of Slovakia with the cooperation and assistance requested by it.

(9)

The National Bank of Slovakia shall publish, pursuant to § 37 para. 3, the opinions, methodological guidelines and recommendations determined by it relating to supervision over the financial market and explaining the application of this Act, special acts and other generally binding legal regulations relating to supervised entities or to their activities. The National Bank of Slovakia shall take over the guidelines and recommendations of the European supervisory authorities published under a special regulation 6a ) except where it does not comply or does not intend to comply with a guideline or recommendation, and shall inform the relevant European supervisory authority thereof in accordance with the special regulation 6a ).

(10)

On-site supervision is the acquisition of information and documents on facts relating to the supervised entity and its activity or to other persons whose position, transactions or other activity is connected with the supervised entity, as a rule directly from the supervised entity or from its employees, as well as the evaluation of the information and documents thus acquired; the information and documents thus acquired may also be used for the purposes of proceedings conducted by the National Bank of Slovakia. However, on-site supervision does not include the acquisition and evaluation of information and documents on site by the procedure of the National Bank of Slovakia in proceedings conducted by the National Bank of Slovakia under § 12 to 34 of this Act and under special regulations.

(11)

Remote supervision is the acquisition and evaluation of information and documents relating to the supervised entity and its activity or to other persons whose position, transactions or other activity is connected with the supervised entity, otherwise than by on-site supervision, in particular by acquiring and evaluating information and documents submitted to the National Bank of Slovakia on the basis of its written request and information stated in reports, statements and other documents submitted to the National Bank of Slovakia on the basis of this Act, special acts, other generally binding legal regulations or decisions issued by the National Bank of Slovakia; the information and documents thus acquired may also be used for the purposes of proceedings conducted by the National Bank of Slovakia. However, remote supervision does not include the acquisition and evaluation of information remotely by the procedure of the National Bank of Slovakia in proceedings conducted by the National Bank of Slovakia under § 12 to 34 of this Act and under special regulations.

(12)

The costs associated with on-site supervision and remote supervision incurred by the National Bank of Slovakia shall be borne by the National Bank of Slovakia, and the costs incurred by the supervised entity shall be borne by the supervised entity, unless this Act or a special regulation 1 ) provides otherwise.

§ 3

Cooperation in the performance of supervision

(1)

State authorities, bodies of territorial self-government and other bodies of public authority, including the Notarial Chamber of the Slovak Republic 7 ) and the Slovak Chamber of Auditors, 8 ) notaries, 7 ) statutory auditors, 8 ) audit companies, 8 ) the central securities depository, 9 ) members of the central securities depository, 9 ) the stock exchange 10 ) and other persons, 11 ) whose activity is connected with supervised entities, are obliged to provide the National Bank of Slovakia with the cooperation requested by it for the purposes of the performance of supervision under this Act and special regulations. To this end, public authorities and other persons under the first sentence are obliged to make available and provide, free of charge and also repeatedly, to the National Bank of Slovakia, for the purposes of supervision under this Act and special regulations 1 ), the statements, explanations, data and other information and materials requested by it, which they have obtained in the course of their activities, including personal data and other information and materials from the public parts as well as the non-public parts of the information systems they maintain, manage or operate, 11a ) including registers, 11b ) records, lists and other collections of information and related collections of documents, whereby data and other information from the relevant information system, with the exception of the criminal record register, are also made available in a manner allowing free of charge complete, direct, continuous and permanent remote access via electronic communication, so that the National Bank of Slovakia may, even without the consent and information of the persons concerned, obtain and make for itself a copy, extract, printout or other similar form of output in electronic form and also in paper form usable for legal purposes. The requested authority or requested person has the right to refuse to make available and provide the requested information only if this would result in a breach of the duty of confidentiality, or in the making available or provision of information contrary to the law or to an international treaty binding the Slovak Republic which takes precedence over the laws of the Slovak Republic.

(2)

For the purposes of examining and proving facts concerning reliability or integrity in the supervision under Section 1 (3) (a) second to fourth point, the person submitting the application (hereinafter referred to as the "applicant") as well as the person concerned is obliged to provide in writing to the National Bank of Slovakia data, 11c ) which are necessary for requesting an extract from the criminal record register or a specialised extract from the criminal record register; the provision and verification of these data, the verification of identity and the requesting, issuing and sending of an extract from the criminal record register or a specialised extract from the criminal record register shall be governed by special regulations 11d ), with the National Bank of Slovakia forwarding these data without delay in electronic form via electronic communication to the Office of the General Prosecutor of the Slovak Republic for the issuing of an extract from the criminal record register or a specialised extract from the criminal record register.

(3)

Legal persons and natural persons to which paragraph 1 does not apply and which have documents or information relating to supervised entities or to their activities are obliged to make them available and provide them to the National Bank of Slovakia at its request in writing or orally into the minutes; if they provide information orally into the minutes at the request of the National Bank of Slovakia, Section 17 (3) and (4) shall apply mutatis mutandis to the drawing up and formalities of the minutes.

(4)

The National Bank of Slovakia, in the course of cooperation within the exercise of supervision over supervised entities, is authorised to make available and provide information to the European Central Bank, 1ab ) participants in the European System of Financial Supervision, 1b ) other foreign supervisory authorities, statutory auditors, 8 ) audit companies 8 ) and the Slovak Chamber of Auditors 8 ), as well as to other public authorities and persons 11 ) whose activities relate to the supervision of supervised entities, and also to draw their attention to such deficiencies identified in the exercise of supervision over supervised entities, the resolution or expert assessment of which they are competent to carry out. If a waiver of the duty of confidentiality under a special act 5 ) is required for such making available and provision of information, a written agreement on mutual cooperation and the provision of information between the National Bank of Slovakia and the relevant authority or person approved by the Bank Board shall also be deemed to constitute such waiver of the duty of confidentiality.

(5)

Information made available or provided by the National Bank of Slovakia under paragraph 4 may be used only for the purposes of exercising supervision over supervised entities, for the purposes of quality control of audit services and for the performance of other tasks laid down by law 12 ) of the authorities and persons referred to in paragraph 4. The authorities and persons referred to in paragraph 4 to which the National Bank of Slovakia has made available or provided information are obliged to keep such information confidential, protect it against unauthorised access, disclosure, misuse, alteration, damage, destruction, loss, theft and to maintain confidentiality thereof. 13 ) The authorities and persons referred to in paragraph 4 may provide such information to each other exclusively for the same purpose or procedure for which it was made available or provided by the National Bank of Slovakia; otherwise they may make it available, provide it or publish it only with the prior written consent of the National Bank of Slovakia. If information relating to the supervision of supervised entities or their activities is required under a special regulation 14 ), the National Bank of Slovakia or another obliged person shall not make it available and shall not provide it. 15 )

(6)

Information obtained by the National Bank of Slovakia, persons entrusted with the exercise of supervision or co-opted persons from foreign supervisory authorities may be used only for the purposes of exercising supervision over supervised entities, for the performance of other tasks laid down by law of the National Bank of Slovakia and for the purposes of judicial proceedings reviewing the lawfulness of decisions or procedures of the National Bank of Slovakia or for the purposes of criminal prosecution. The National Bank of Slovakia may make available or provide such information to other authorities or persons, or publish it, only with the consent of the foreign supervisory authority that provided such information.

(7)

The National Bank of Slovakia is authorised, for the purposes of supervision under this Act and special regulations 1 ) and for statistical purposes, to request an interest association 15a ) of supervised entities operating in a certain area of the financial market to submit statements, explanations, other materials and information relating to the activities of this interest association or to the activities of its members which are subject to supervision. The requested interest association is entitled, for the purposes of providing this cooperation to the National Bank of Slovakia, to collect and process documents and information from its members with the aim of providing them to the National Bank of Slovakia.

(8)

Details of the provision of cooperation under paragraphs 1 to 6 may be regulated by a written agreement on mutual cooperation and the provision of information between the National Bank of Slovakia and the relevant authority or person, provided that such an agreement is approved by the Bank Board for the National Bank of Slovakia; the National Bank of Slovakia may conclude such an agreement with a foreign supervisory authority only on the basis of reciprocity.

§ 4

International cooperation in the exercise of supervision

(1)

A foreign supervisory authority from a member state of the European Union or another state of the European Economic Area 15b ) (hereinafter referred to as a "member state") may exercise supervision over the activity of a supervised entity which is a branch or subsidiary of a foreign person on the territory of the Slovak Republic, provided that this foreign person is subject to the supervision of the relevant foreign supervisory authority. A foreign supervisory authority from a state other than a member state may exercise supervision on the territory of the Slovak Republic over the activity of a supervised entity which is a branch or subsidiary of a foreign person only on the basis of an agreement concluded between the National Bank of Slovakia and the relevant foreign supervisory authority; the National Bank of Slovakia may conclude such an agreement only on the basis of reciprocity. A foreign supervisory authority is obliged to notify the National Bank of Slovakia in advance of the exercise of on-site supervision on the territory of the Slovak Republic. Authorised persons of a foreign supervisory authority have, when exercising on-site supervision on the territory of the Slovak Republic, the same rights, obligations and liability as persons authorised to exercise on-site supervision on the basis of an authorisation of the National Bank of Slovakia; however, they do not have the obligation to draw up a report on the on-site supervision carried out, nor the obligation to determine and notify the supervised entity of the deadlines for the adoption and fulfilment of measures to remedy the deficiencies identified during the on-site supervision carried out.

(2)

The National Bank of Slovakia may exercise supervision over the activity of a supervised entity, including its branches, and over a subsidiary of a supervised entity on the territory of another member state, if it is a supervised entity with its registered office on the territory of the Slovak Republic and if such supervision is permitted by the legal regulations in force in the relevant member state. The National Bank of Slovakia may exercise supervision over the activity of a supervised entity, including its branches, and over a subsidiary of a supervised entity on the territory of a state other than a member state, if it is a supervised entity with its registered office on the territory of the Slovak Republic and if such supervision is permitted by the legal regulations in force in the relevant state and by an agreement concluded between the National Bank of Slovakia and the foreign supervisory authority of the relevant state.

(3)

The National Bank of Slovakia is a participant in the European System of Financial Supervision. 1b ) The National Bank of Slovakia may be a member of international organisations in the field of supervision, including national macro-prudential authorities over the financial market, and may ensure the fulfilment of tasks arising from membership in these organisations. The National Bank of Slovakia ensures the performance of tasks arising for national supervisory authorities from legally binding acts of the European Union or from international treaties to which the Slovak Republic is bound, and from the membership of the Slovak Republic in international organisations in the field of the financial market.

§ 5

Financial Market Supervision Unit

(1)

The Bank Board shall ensure the establishment within the National Bank of Slovakia of organisational units for the performance of defined tasks in the supervision of supervised entities within the financial market (hereinafter "financial market supervision unit"), which

carries out on-site supervision,

carries out off-site supervision,

carries out the protection of financial consumers,

conducts proceedings and takes decisions at first instance in matters of financial market supervision, including the protection of financial consumers, unless this Act or a special Act provides otherwise,

prepares, in accordance with the rules set by the Bank Board, proposals for the regulation of the financial market, which are understood to mean proposals for generally binding legal regulations of the National Bank of Slovakia for the implementation of this Act and special Acts 1) in the field of the financial market, where so provided by these Acts, in particular proposals for establishing prudential rules, safe operation rules and other requirements for the business activities of supervised entities,

performs other tasks entrusted to the National Bank of Slovakia in the supervision of the financial market, where the performance of such tasks does not fall within the competence of other organisational units or bodies of the National Bank of Slovakia.

(2)

The head of the financial market supervision unit 16) shall decide on the procedure of the financial market supervision unit in performing the tasks of that unit; the designated head of the financial market supervision unit or an employee of the supervision unit authorised by him or her shall issue and sign written authorisations for the exercise of on-site supervision and shall decide on the procedure of the supervision unit in conducting first-instance proceedings, including the adoption and signing of first-instance decisions in matters of financial market supervision, including the protection of financial consumers, unless the Act provides otherwise. The organisational structure, management principles and a more detailed definition and breakdown of the tasks of the financial market supervision unit shall be laid down by the organisational rules of the National Bank of Slovakia. 17 )

(3)

In exercising supervision over supervised entities, the financial market supervision unit acts independently, impartially and without bias in accordance with this Act, special Acts and other generally binding legal regulations; it cooperates with other organisational units and bodies of the National Bank of Slovakia, exchanges with them information and documents and provides each other with further mutual assistance and support to the extent necessary for the proper and effective performance of the tasks and activities of the National Bank of Slovakia laid down by law. In conducting proceedings and taking decisions at first instance, the financial market supervision unit is bound by the decisions of the Bank Board issued at second instance 18) and by the decisions of the court issued in judicial review of the legality of final decisions or of the procedure of the National Bank of Slovakia in administrative court proceedings. 19 ) Tasks affecting the independent, impartial, proper and timely performance of the obligations imposed on the financial market supervision unit by law in the exercise of supervision over supervised entities may not be imposed on the financial market supervision unit.

§ 5a

Data Collection Authority

(1)

The National Bank of Slovakia is the data collection authority pursuant to a special regulation 19a) for the purposes of making available information pursuant to special regulations 19b) at the single European access point created and operated by the European Supervisory Authority (European Securities and Markets Authority) pursuant to a special regulation. 19c )

(2)

Information submitted to the National Bank of Slovakia pursuant to special regulations 19d) must meet the following requirements:

it is submitted in a format enabling data extraction pursuant to a special regulation 19e) or, where required by a special regulation, 19f) in a machine-readable format pursuant to a special regulation, 19g)

the following metadata are attached to it:

the trade names or names of the entities pursuant to special regulations, 19h) to which the information relates,

the legal entity identifier, 19i)

the size of the entities listed in special regulations 19h) by categories, 19j)

the industrial sector of economic activities, 19k)

the type of information according to the classification, 19l)

a note as to whether the information contains personal data.

(3)

The requirement pursuant to paragraph 2(b), fourth point, shall not apply to information submitted pursuant to special regulations. 19m )

(4)

The entities listed in special regulations 19h) are obliged to obtain a legal entity identifier. 19i)

PART TWO

PROCEDURE FOR ON-SITE SUPERVISION

§ 6

On-site supervision may be carried out by a person authorised to exercise supervision who holds a written authorisation from the National Bank of Slovakia for the exercise of on-site supervision. The written authorisation for the exercise of on-site supervision shall contain the identification of the supervised entity, the first names, surnames and positions of the persons authorised to exercise supervision, the subject of the supervision, the planned duration of the supervision, if determined, an imprint of the round official seal of the National Bank of Slovakia bearing the state emblem, and the first name, surname, position and signature of the authorised head of the financial market supervision unit who issued this authorisation on behalf of the National Bank of Slovakia, unless a special Act 20) provides otherwise; this authorisation may be subsequently amended. The written authorisation for the exercise of on-site supervision need not contain the first names, surnames and positions of the persons authorised to exercise supervision in the case of persons carrying out supervision under a concealed identity; in such case, the authorisation shall state the number of the identity card of the person authorised to exercise supervision under a concealed identity, issued to that person by the National Bank of Slovakia.

§ 7

(1)

A person entrusted with the exercise of on-site supervision is excluded from the exercise of on-site supervision if, having regard to their relationship to the subject of supervision, the supervised entity or its employees, doubts may arise as to their impartiality.

(2)

A supervised entity that becomes aware of facts indicating that a person entrusted with the exercise of on-site supervision is to be excluded from the exercise of on-site supervision is obliged to notify these facts without delay in writing to the National Bank of Slovakia. The notification of an objection of bias must state against whom the objection of bias is directed, the reason for which the person entrusted with the exercise of on-site supervision is to be excluded from the exercise of on-site supervision, when the supervised entity became aware of this reason and by what evidence this reason can be proven; together with the notification of the objection of bias, the supervised entity is obliged to submit the evidence at its disposal. Repeated notification of the same facts and reasons shall not be taken into account and no decision shall be taken on them if they have already been decided upon.

(3)

A person entrusted with the exercise of on-site supervision who becomes aware of facts indicating their exclusion from the exercise of on-site supervision is obliged to notify these facts without delay in writing to the superior who granted the authorisation to exercise on-site supervision, including the notification of the reasons and the submission of evidence on the basis of which this person is to be excluded from the exercise of on-site supervision. A member of the Bank Board, the head of the financial market supervision unit shall notify these facts in writing to the Bank Board, including the notification of the reasons and the submission of evidence on the basis of which they are to be excluded from the exercise of on-site supervision.

(4)

The filing of an objection of bias on the grounds referred to in paragraph 1 does not prevent the continuation of on-site supervision; the person entrusted with the exercise of on-site supervision, against whom an objection of bias filed by the supervised entity on the grounds referred to in paragraph 1 is directed, may not draw up or participate in drawing up the record of the on-site supervision carried out, or a partial record, until a decision on this objection of bias has been made. A person entrusted with the exercise of on-site supervision, against whom an objection of bias filed by the supervised entity is directed, is obliged to comment in writing without delay on the content of the filed objection of bias and to submit this written comment to the person competent to decide on the filed objection of bias.

(5)

A decision on the objection of bias shall be made within 30 working days from its filing, or from the removal of its incompleteness or its other deficiencies on the basis of a written request by the National Bank of Slovakia to the submitter. Whether a person entrusted with the exercise of on-site supervision is excluded from the exercise of on-site supervision shall be decided by their superior; if the objection of bias concerns several persons entrusted with the exercise of on-site supervision, the decision on exclusion from the exercise of on-site supervision shall be made by their common superior. The exclusion of the head of the financial market supervision unit or a member of the Bank Board from on-site supervision shall be decided by the Bank Board; the member of the Bank Board whose exclusion is being voted on shall not participate in the Bank Board's vote on the exclusion of a member of the Bank Board. The provisions on proceedings under this Act and special regulations, as well as the general regulations on administrative proceedings, shall not apply to this decision-making. 21 ) No remedy may be filed against a decision on exclusion from the exercise of on-site supervision or rejection of an objection of bias.

(6)

If it was decided that the person authorised to carry out supervision is excluded from carrying out on-site supervision, the relevant head of the financial market supervision unit shall take measures to ensure the proper continuation and completion of the on-site supervision. In the event of a decision to exclude the head of the financial market supervision unit and at the same time his or her deputy, the Bank Board shall designate the person who shall be responsible for the proper continuation and completion of the on-site supervision, including the drawing up of a report on the on-site supervision carried out.

§ 8

(1)

On-site supervision begins on the day when the person authorised to carry out supervision presented themselves to the supervised entity by means of a written authorisation of the National Bank of Slovakia to carry out on-site supervision at that supervised entity, whereby the authorisation to carry out supervision may also be presented to the supervised entity by delivering a copy of this authorisation to the supervised entity via the postal undertaking; a change to the authorisation is presented to the supervised entity in the same manner. On-site supervision carried out indirectly or under a covert identity begins at the moment when the person authorised to carry out supervision or the invited person performed the first act towards the supervised entity, unless otherwise stated in this paragraph; on-site supervision under a covert identity may also be carried out within the framework of on-site supervision that has already begun. From the commencement of on-site supervision, the National Bank of Slovakia, the person authorised to carry out supervision and the invited person are entitled to require cooperation from the supervised entity and its employees and the fulfilment of obligations for the purposes of carrying out on-site supervision, including the submission of documents, records, information on technical media and other information, documents and things, as well as their delivery to the National Bank of Slovakia within the period set by it; this does not apply in the case of on-site supervision carried out under a covert identity until the moment the person authorised to carry out supervision presents themselves to the supervised entity by means of a written authorisation of the National Bank of Slovakia to carry out on-site supervision at that supervised entity.

(2)

Persons authorised to carry out supervision are entitled, when carrying out on-site supervision,

to enter and, after an unsuccessful request to permit entry, to enforce entry onto land, into buildings, rooms, facilities and other premises of the supervised entity, including its means of transport; the inviolability of the home must not be violated by the exercise of this entitlement, 22 )

to require the supervised entity and its employees to provide them, within the period set,

documents including their originals, statements, documentation and other documents and information including information on technical data media, officially certified translations of the documents and information being verified, and to allow them access to other things of supervised entities,

explanations, statements and other oral and written information on the subject of supervision and preliminary findings on deficiencies and on the deficiencies identified,

to take over and move outside the premises of the supervised entity originals of documents, records, information on technical data media and other information, documents and things; after an unsuccessful request to provide documents, records, information on technical data media and other necessary information, documents and things, to enforce access to them by overcoming resistance or an obstacle created, including with the help of an invited person capable of ensuring the overcoming of resistance or an obstacle created,

to require cooperation and the fulfilment of obligations by the supervised entity and its employees; however, cooperation may not be required if the life or health of persons would be endangered or if a duty of confidentiality established by law would be violated, unless the persons providing cooperation have been released from this duty by a competent authority,

to make image, sound and audio-visual recordings to document the course of the carrying out of supervision and the deficiencies identified, even without prior notification to the supervised entity and other affected persons; the recordings made may be used for purposes related to the carrying out of supervision, if the recordings made form part of records management records pursuant to a special regulation, 22a )

to carry out test purchases of financial services including the conclusion of contracts and the carrying out of other necessary acts connected with the financial service, even indirectly or under a covert identity,

to carry out other measures necessary to ensure the effective and smooth carrying out of supervision,

to exercise other entitlements pursuant to this Act and special regulations.

(3)

Persons authorised to carry out supervision are obliged, when carrying out on-site supervision,

to present themselves to the supervised entity no later than at the commencement of their participation in the carrying out of on-site supervision by means of a written authorisation of the National Bank of Slovakia to carry out this supervision together with an employee card of the National Bank of Slovakia; this does not apply in the case of carrying out supervision indirectly or under a covert identity, when the person authorised to carry out on-site supervision is entitled to present themselves to the supervised entity only after carrying out acts indirectly or under a covert identity,

to issue to the supervised entity a written confirmation of the taking over of originals of documents and other documents and things moved outside the premises of the supervised entity and to ensure their protection against loss, destruction, damage and misuse; if the documents and other things taken over are no longer necessary for the further carrying out of supervision over the supervised entity, for proceedings or any other procedure pursuant to this Act or a special regulation, 1 ) they are obliged to return them without delay to the person from whom they were taken over,

to draw up a written report on the on-site supervision carried out, to deliver one copy of this report to the supervised entity, to set an appropriate period, of at least three working days, for the supervised entity to submit written objections to the data stated in this report, to verify without delay the justification of the written objections submitted by the supervised entity and to deliver to the supervised entity a written notice of the outcome of the verification of the written objections submitted; this shall apply equally to a written interim report or a partial report, if such a report was drawn up on a certain specific finding in the interest of ensuring the effective and smooth carrying out of supervision,

if necessary, to set and notify in writing to the supervised entity the deadlines by which the supervised entity is obliged to adopt and implement its measures to remedy and rectify deficiencies identified during the on-site inspection and their causes and to submit written reports to the National Bank of Slovakia on the measures adopted and on the implementation of the measures adopted, where, if the report on the on-site inspection carried out also contains recommendations for improving the activities of the supervised entity, the persons authorised to carry out the inspection may also set and notify in writing to the supervised entity a deadline by which the supervised entity is obliged to submit to the National Bank of Slovakia a written plan of measures adopted in response to the recommendations for improving the activities of the supervised entity and written reports on the implementation of those measures; the deadlines under this provision may be set or changed by the National Bank of Slovakia, for an objective reason, even after the on-site inspection has been completed,

to respect the rights of the supervised entity under this Act and special regulations,

to ensure the protection of information and documents obtained during the on-site inspection so as to prevent unauthorised disclosure of classified facts, trade secrets, banking secrets, tax secrets and other information classified or protected by a duty of confidentiality expressly imposed or recognised under special regulations; 23 ) a breach of this duty shall not be the provision of such information and documents for the performance of the tasks and powers of the National Bank of Slovakia under this Act and special regulations, if this is necessary for their performance,

to fulfil other obligations laid down by this Act and special regulations.

§ 9

(1)

The supervised entity and its employees affected by the on-site inspection have the right to submit a written opinion on the preliminary findings on deficiencies and on the deficiencies identified during the on-site inspection, which were notified to them during the on-site inspection by the persons authorised to carry out the inspection. The supervised entity has the right to submit, within the set deadline, written objections to the data stated in the report on the on-site inspection carried out, as well as written objections to the data stated in the interim report or partial report, if such a report was drawn up.

(2)

The supervised entity is obliged to create appropriate material and technical conditions for the on-site inspection without undue delay, but at the latest within the deadline under § 8(3)(d), to adopt and implement its measures to remedy and rectify deficiencies identified during the on-site inspection and their causes, and also after adopting those measures and also after implementing those measures to submit written reports to the National Bank of Slovakia without undue delay.

(3)

The supervised entity, the members of its bodies, its employees and other persons whose activities are related to the supervised entity are also obliged during the on-site inspection to

enable the exercise of the powers which, during the on-site inspection, belong to the National Bank of Slovakia, to the persons authorised to carry out the inspection and to the persons invited,

provide the persons authorised to perform the inspection and the invited persons with the cooperation requested by them for the purposes of the performance of the on-site inspection, in particular documents, other written materials, oral and written information and oral and written statements on the subject of the inspection and the preliminary findings on deficiencies and on the identified deficiencies,

at the request of persons entrusted with the performance of supervision, to participate in the discussion of the record of the on-site supervision performed, the interim record, the partial record or the written objections of the supervised entity against the data stated in such records; refusal to participate in the discussion of the record and the reasons given for refusing such participation shall be recorded in the record,

to fulfil other obligations laid down by this Act and by special regulations.

§ 10

(1)

The record of the on-site supervision performed shall contain

the identification data of the supervised entity, namely in the case of a legal person its business name, registered office address and identification number, if assigned, and in the case of a natural person, including a natural person who is an entrepreneur, their first name, surname, birth number or date of birth, or identification number, if assigned, and the address of permanent residence or the address of the place of business, if the place of business is different from the permanent residence,

the first names, surnames and functions of the persons who participated in the supervision performed; such data need not be stated for persons who performed supervision under a covert identity,

the place, the day of commencement and the duration of the performance of the on-site supervision,

the subject of the on-site supervision performed and the supervised period, if determined,

a description of the factual situation and of the deficiencies found during the supervision performed, including the statement of written documents and other facts that substantiate these findings, and the legal regulations whose breach was found, including deficiencies found during the performance of the on-site supervision beyond the scope of the authorisation to perform supervision; the record of the on-site supervision performed may also contain recommendations for improving the activity of the supervised entity, if they resulted from the supervision performed,

the time limit set for the supervised entity to submit written objections against the data stated in this record,

the place and date of drawing up of this record and the first names, surnames, functions and signatures of the persons responsible for the record drawn up; the first names, surnames, functions and signatures of persons are not required for persons who performed supervision under a covert identity.

(2)

Part of the record of the on-site inspection carried out, deposited with the National Bank of Slovakia, shall be proof of delivery of this record to the supervised entity, as well as any written objections of the supervised entity against the data stated in this record, a copy of the written notification to the supervised entity of the result of the review of the submitted written objections of the supervised entity, and proof of delivery of this notification to the supervised entity.

(3)

The supervised entity has the right to inspect the record of the on-site inspection carried out, deposited with the National Bank of Slovakia, and to make extracts from it at its own expense; this does not apply to other administrative documentation on the inspection, and this record or other administrative documentation on the inspection may not be made accessible or provided to other persons, except for their disclosure or provision under § 2 para. 6 or for purposes related to the performance of supervision over the supervised entity. The supervised entity has the right, upon its request and against reimbursement of material costs, to have the National Bank of Slovakia make a copy of the record of the on-site inspection carried out, deposited with the National Bank of Slovakia, as well as of other than written materials contained in such record, in paper form or in electronic form on a durable medium; a durable medium means any means that enables the storage and preservation of written information and other information in a manner accessible for future use for a period corresponding to the purpose of such information and that enables complete and unchanged faithful reproduction of the stored information.

(4)

Paragraphs 1 to 3 shall apply mutatis mutandis also to an interim record and a partial record. A partial record shall contain a description of the factual state, identified deficiencies and other findings only regarding a part of the subject of the on-site inspection, if this is necessary for the purposes of a special procedure concerning this part of the subject of the inspection, or a special resolution of the identified deficiencies and other findings concerning this part of the subject of the on-site inspection. An interim record shall contain a description of important facts and findings regarding the factual state of the subject of the on-site inspection during the performance of the on-site inspection or regarding the course of the performance of the on-site inspection, which cannot be documented by written documents or other written materials and which are significant for the on-site inspection being performed, including a description of important facts and findings regarding obstruction of the performance of the on-site inspection; the interim record shall as a rule be drawn up directly at the place of the performance of the inspection.

(5)

The on-site inspection is concluded by delivery of a written notification to the supervised entity of the result of the review of its written objections against the data stated in the record of the on-site inspection carried out, if the supervised entity submitted such objections; otherwise, the performance of the on-site inspection is concluded by the futile expiry of the time limit set for the supervised entity to submit written objections against the data stated in the record of the on-site inspection carried out.

(6)

Deficiencies in the activity of the supervised entity stated in the record of the on-site inspection carried out shall, under special regulations 23a ), be considered as identified as of the date of the conclusion of this on-site inspection.

(7)

The record of the on-site inspection carried out, the interim record and the partial record shall be kept at the National Bank of Slovakia for at least ten years after the conclusion of the on-site inspection; this period for the safekeeping of the record shall be interrupted if the record was also used for the purposes of proceedings conducted by the National Bank of Slovakia in the matter of supervision, whereby this period shall be interrupted by the commencement of the proceedings and by the conclusion of the proceedings, and from each interruption a new period for the safekeeping of the record shall begin to run.

§ 11

(1)

For the performance of a specific task in the exercise of on-site supervision over supervised entities under this Act and special regulations, the National Bank of Slovakia may, at any stage of the on-site inspection, invite as invited persons employees of public authorities, employees of a foreign supervisory authority, employees of other legal persons or other natural persons, with the consent of the relevant invited person and if justified by the special nature of the task that is the subject of the on-site inspection and that cannot be performed by persons entrusted with the performance of supervision.

(2)

Invited persons shall, in their participation in the performance of the on-site inspection, have the same powers, duties and responsibilities as persons entrusted with the performance of supervision have under this Act and special regulations, unless this Act or a special regulation 1 ) provides otherwise. Invited persons shall not draw up or sign the record of the on-site inspection carried out. Invited persons may participate in the performance of the on-site inspection on the basis of a written authorization of the National Bank of Slovakia for participation in the performance of the on-site inspection and, as a rule, only in the company of a person entrusted with the performance of supervision. The written authorization for the performance of the on-site inspection need not contain the names, surnames and functions of the invited persons if these perform supervision under a covert identity; the authorization shall state the number of the identification card of the person entrusted with the performance of supervision under a covert identity, issued to that person by the National Bank of Slovakia. An invited person shall identify himself to the supervised entity at the latest upon the commencement of his participation in the performance of the on-site inspection by means of an identity document; this shall not apply in the case of the performance of supervision indirectly or under a covert identity through an invited person, when the invited person is entitled to identify himself to the supervised entity only after the performance of acts indirectly or under a covert identity through an invited person, whereby it is sufficient if he identifies himself by means of an identification card issued to him by the National Bank of Slovakia.

(3)

If the invited persons are employees, their participation in the performance of the on-site inspection shall, under a special act 24 ), be considered as another act in the general interest, for the performance of which the invited persons shall be granted leave of absence and for which they shall be entitled to compensation of wages or salary in the amount of lost earnings for the period of their participation in the performance of the on-site inspection. Employers of summoned persons who reimburse the summoned persons for wage or salary compensation for the period of their participation in the on-site supervision are entitled, from the National Bank of Slovakia, to this compensation in full and to compensation for paid compulsory social insurance contributions and compulsory health insurance contributions, if they submit to the National Bank of Slovakia credible written documents on the amount of wage or salary compensation paid by them to the summoned persons and on the amount of compulsory social insurance contributions and compulsory health insurance contributions paid by them.

§ 11a

A contract concluded or an act performed within the framework of controlled provision of a financial service shall be void from the outset upon delivery of a notification by the National Bank of Slovakia to the supervised entity that it is a contract concluded or an act performed within the framework of controlled provision of a financial service, whereby the National Bank of Slovakia shall send such notification to the supervised entity no later than together with the report on the performed on-site supervision. The supervised entity is obliged to return to the National Bank of Slovakia all financial considerations paid to the supervised entity in connection with a contract concluded or an act performed within the framework of controlled provision of a financial service. The National Bank of Slovakia shall return to the supervised entity all financial considerations paid by the supervised entity in connection with such a contract or act, whereby these financial considerations must be paid within 30 calendar days from the day when the notification of the National Bank of Slovakia that it is a contract concluded or an act performed within the framework of controlled provision of a financial service was delivered to the supervised entity; this is without prejudice to the provision of § 2 para. 12. Information and documents obtained in connection with the controlled provision of a financial service may be used for the purposes of performing supervision over the financial market.

PART THREE

PROCEEDINGS IN MATTERS OF SUPERVISION

§ 12

(1)

This Act shall apply to proceedings in matters entrusted to the National Bank of Slovakia by this Act and special regulations, 25 ) in which rights or obligations of supervised entities or other persons are decided, unless a special regulation 25 ) provides otherwise; general regulations on administrative proceedings shall not apply to proceedings under this Act and special regulations. 25 ) 21 )

(2)

The provisions on proceedings under this Act and special acts, nor the general regulations on administrative proceedings, shall not apply to tasks imposed on supervised entities by the National Bank of Slovakia in the area of monetary policy and payment services under a special act. 26 ) 21 )

§ 13

The National Bank of Slovakia shall proceed in the proceedings without unnecessary delays so that the factual and legal state of the matter is ascertained; it shall base its decision-making on the ascertained state of the matter.

§ 14

(1)

An employee of the National Bank of Slovakia or a member of the Bank Board shall be excluded from the proceedings if, with regard to his relationship to the matter, to a party to the proceedings or his representative, or to an employee, doubts may arise as to his impartiality.

(2)

Also excluded from proceedings in a matter under this Act is anyone who participated in the same matter in proceedings at another level; this does not apply to members of the Bank Board in proceedings following in the same matter after proceedings of the Bank Board under § 31 , under § 32 para. 6 or after proceedings of the Bank Board at first instance on the imposition of a procedural fine.

(3)

A party to the proceedings who learns of facts indicating that an employee of the National Bank of Slovakia or a member of the Bank Board is to be excluded from the proceedings is obliged to notify these facts in writing to the National Bank of Slovakia without delay. In the notification of an objection of bias, the employee of the National Bank of Slovakia or the member of the Bank Board against whom the objection of bias is directed must be identified, the reason for which this employee or member of the Bank Board is to be excluded from the proceedings, when the party to the proceedings learned of this reason and by what evidence this reason can be proven; together with the notification of the objection of bias, the party to the proceedings is obliged to submit the evidence available to it. Repeated notification of the same facts and reasons shall not be taken into account and shall not be decided upon if they have already been decided.

(4)

An employee of the National Bank of Slovakia who learns of facts indicating his exclusion from the proceedings is obliged to notify these facts in writing to his superior without delay, including notification of the reasons and submission of evidence on the basis of which he is to be excluded from the proceedings. A member of the Bank Board, a senior employee of the financial market supervision department shall notify these facts in writing to the Bank Board, including notification of the reasons and submission of evidence on the basis of which he is to be excluded from the proceedings.

(5)

The submission of an objection on the grounds stated in paragraph 1 or paragraph 2 does not prevent the continuation of the proceedings and the taking of evidence or other acts in the proceedings; however, before a decision on an objection of bias submitted against an employee of the National Bank of Slovakia or a member of the Bank Board who is participating in the proceedings, no decision on the merits or other decision terminating the proceedings may be issued. An employee of the National Bank of Slovakia or a member of the Bank Board against whom an objection of bias submitted by a party to the proceedings is directed is obliged to state in writing without delay his position on the content of the submitted objection of bias and to submit this written statement to the person competent to decide on the submitted objection of bias.

(6)

An objection of bias shall be decided within 30 working days from its submission, or from the removal of its incompleteness or other deficiencies on the basis of a written request of the National Bank of Slovakia to the submitter. Whether an employee of the National Bank of Slovakia is excluded from the proceedings shall be decided by his superior; if the objection of bias concerns several employees, their common superior shall decide on the exclusion from the proceedings. On the exclusion of a senior employee of the financial market supervision department or a member of the Bank Board from the proceedings, the Bank Board shall decide; a member of the Bank Board who is being voted on shall not participate in the voting of the Bank Board on the exclusion of a member of the Bank Board.

(7)

If it has been decided that an employee of the National Bank of Slovakia or a member of the Bank Board is excluded from the proceedings, the relevant senior employee or the Bank Board shall adopt measures to ensure the proper continuation and completion of the proceedings. In the event of a decision on the exclusion of the senior employee of the financial market supervision department and at the same time his deputies, the Bank Board shall designate the person who will be responsible for the proper continuation and completion of the first-instance proceedings, including the issuance of a first-instance decision.

(8)

A decision shall be issued on the exclusion of an employee of the National Bank of Slovakia from the proceedings or on the rejection of an objection of bias. No remedy may be filed against a decision on exclusion from the proceedings or on the rejection of an objection of bias.

§ 15

(1)

A party to the proceedings is the supervised entity whose rights or obligations under this Act and special laws are to be the subject of the proceedings, or a person entitled to submit an application for the granting of a permit, licence, approval, consent or prior consent under a special law, or an application for the issuance of another decision under a special law; 26a ) in proceedings on the imposition of a fine, other sanction or remedial measure under this Act or special laws, a party to the proceedings is the supervised entity or another person to whom a fine, other sanction or remedial measure is to be imposed.

(2)

A legal person shall be represented by its statutory body, or by its employee or member who proves by a written authorization from the statutory body that he is entitled to act on behalf of the legal person.

(3)

A party to the proceedings may be represented in the proceedings. In the same matter, a party to the proceedings may have only one representative at a time, to whom it shall grant a power of attorney in writing or orally into the record, either for the entire proceedings or only for certain acts in the proceedings. A power of attorney for the representation of a legal person must be granted by a person who is entitled to act on its behalf.

§ 16

(1)

Proceedings shall be initiated on the basis of an application by a party to the proceedings or on the initiative of the National Bank of Slovakia.

(2)

Proceedings are initiated on the first working day following the delivery of the paper form of the written application of the party to the proceedings to the National Bank of Slovakia; however, if special regulations in the field of the financial market 26b ) require the submission of an electronic form of the written application, the proceedings are initiated on the first working day following the delivery of the relevant application in electronic form and in the proper electronic format to the electronic address of the National Bank of Slovakia, which is published on the website of the National Bank of Slovakia as the electronic address designated for submitting the electronic form of applications required under special regulations in the field of the financial market. 26b ) If the proceedings are initiated on the initiative of the National Bank of Slovakia, the proceedings are initiated on the day when the National Bank of Slovakia performed the first act vis-à-vis the party to the proceedings, unless this Act or a special law provides otherwise; the National Bank of Slovakia shall immediately inform all its known parties to the proceedings of this first act.

(3)

The application must contain in particular the following particulars:

the identification of the applicant, namely, in the case of a legal person, its business name or other name, the address of its registered office and its identification number, if assigned, and, in the case of a natural person, including a natural person who is an entrepreneur, his personal identification data from an identity document to the extent of name, surname, birth number or date of birth, if a birth number is not assigned, or identification number, if assigned, and the address of permanent residence or the address of the place of business, if the place of business is different from the permanent residence, a record of any restriction of legal capacity, the type and number of the identity document; in addition to these identification data and contact data of the applicant, the application in electronic form required under special regulations 26b ) must also contain the applicant's email address for communication with the National Bank of Slovakia, including the delivery of documents to the applicant in electronic form,

the identification of what is being requested by it,

a true description of all decisive facts,

the identification of all evidence on which the applicant relies,

the identification of other parties to the proceedings to the extent of the data laid down in point a) and also without their consent, if the applicant knows about them,

the identification of the representatives of the parties to the proceedings to the extent of the data laid down in point a) and also without their consent, if the parties to the proceedings have them and the applicant knows about them,

the identification of other persons to the extent of the data laid down in point a) and also without the consent of the other persons concerned, if they must be stated in the application for the granting of the requested permit, licence, approval, consent or prior consent on the basis of a special law,

a declaration of the completeness, correctness, truthfulness, authenticity and up-to-dateness of the submitted application, including its annexes, whereby the applicant is responsible for the truthfulness of this declaration,

the date and place of drawing up the application and the officially certified signature of the applicant or its statutory body; such certification is not required for the electronic form of the application required under special regulations, 26b ) whereby the identity of the applicant is determined by means of electronic identification, which means the determination and identification of the person 27aa ) who submitted the application or other written submission in electronic form to the National Bank of Slovakia by means of electronic communication,

the annexes defined in paragraph 4,

other particulars laid down on the basis of a special regulation. 25 )

(4)

The National Bank of Slovakia is entitled to call upon the applicant to supplement the application with the data laid down by a special law. 27 ) The annexes to the application must be the originals or officially certified copies of the documents necessary for the decision of the National Bank of Slovakia in the proceedings, in particular an extract from the register or from another record in which the applicant is entered, and the originals or officially certified copies of documents which credibly prove and document the fulfilment of the prerequisites and conditions that must be met for the granting of the permit, licence, approval, consent or prior consent requested by the application under a special regulation. 25 ) Such originals and officially certified copies of documents shall not be required for the electronic form of documents that constitute attachments to the electronic form of an application required under special regulations. 26b ) If the documents that are necessary in the proceedings under the second sentence, or some of them, were submitted to the National Bank of Slovakia already before the filing of the application and if the documents already submitted remain fully up to date in their entirety, continue to meet all the stipulated requirements and are stored at the National Bank of Slovakia, the applicant may replace them in the application with a list of already submitted documents stating the date of submission of the individual documents to the National Bank of Slovakia; if the National Bank of Slovakia finds that this list of the applicant, the application or the attachments to the application are incomplete or have other deficiencies, it shall, in accordance with the procedure under paragraph 5, call upon the applicant to remedy the deficiencies of the application or to supplement the application. If the attachment to the application is a financial statement, an auditor's report and an annual report that are stored in the register of financial statements, 27a ) the applicant may replace them with a reference to their publication in this register of financial statements. If the attachment to the application is a financial statement, an auditor's report and an annual report that are drawn up in the Czech language or in a language commonly used in the field of international finance and that are stored in a register of financial statements maintained by a public authority of the relevant state, to which free online access is enabled, without the need for registration or overcoming any other obstacle, the National Bank of Slovakia may, at the request of an applicant who so requests, allow them to be replaced by a reference to their publication in this register of financial statements. The National Bank of Slovakia may, on the basis of a written proposal of the applicant or on its own initiative, waive the requirement to submit an attachment to the application in paper form and allow it to be submitted in electronic form on a
durable medium, unless special regulations provide otherwise. 26b )

(5)

The application, including its attachments, shall be submitted in the state language; however, if any attachment is drawn up in a language other than the state language, an officially certified translation thereof into the state language must also be submitted together with the relevant attachment. The National Bank of Slovakia may, on the basis of a written proposal of the applicant, waive the requirement to submit an officially certified translation of technical documentation or another attachment to the application into the state language, if this is permissible under a special regulation 5a ) and if it concerns technical documentation or another attachment drawn up in the Czech language or in a language commonly used in the field of international finance; however, the National Bank of Slovakia is also entitled, additionally and as necessary, to request the applicant to submit an officially certified translation of the relevant technical documentation or another attachment into the state language. If the delivered application does not contain all the stipulated particulars, the National Bank of Slovakia shall call upon the applicant to remedy the deficiencies of the application or to supplement the application and shall set a time limit for doing so, as a rule not longer than 30 calendar days, and in this call it shall instruct the applicant on the consequences of failure to comply with the call to remedy the deficiencies or supplement the application; the same procedure shall be followed if the delivered application contains a list of already submitted documents under paragraph 4 that are not stored at the National Bank of Slovakia, or that, according to the findings of the National Bank of Slovakia, are not fully up to date in their entirety or do not meet all the requirements stipulated by law. Later remedy of deficiencies or supplementation of the application shall be taken into account in the proceedings and in decision-making only if the applicant proves that, through no fault of his own, he was objectively unable to remedy the deficiencies of the application and supplement the application within the time limit set by the National Bank of Slovakia.

(6)

Unless the law provides otherwise, a party to the proceedings is obliged, on the basis of a call by the National Bank of Slovakia, to comment within the time limit set by it on the grounds of proceedings initiated on the initiative of the National Bank of Slovakia. Unless the law provides otherwise, the time limit for comment shall not be shorter than five working days from the day of delivery of the call; this shall not apply to the issuance of a preliminary measure or an order measure, to the introduction of forced administration over a supervised entity under a special law, 28 ) to the imposition of an early intervention measure under a special law, 28a ) to a takeover bid under a special law, 29 ) nor before the issuance of a decision on an objection of bias or a decision in proceedings in which the basis for the decision consists only of documents and other evidence submitted by a party to the proceedings.

(7)

If it is expedient for the economy, continuity or efficiency of the proceedings, the National Bank of Slovakia may, after the initiation of proceedings, expand or narrow the grounds of proceedings initiated on its own initiative; the National Bank of Slovakia shall inform the party to the proceedings in writing of the narrowing of the grounds, and the provision of paragraph 6 shall apply mutatis mutandis to the procedure for expanding the grounds of the proceedings.

(8)

If it is expedient for the economy, continuity or efficiency of proceedings initiated on the basis of an application by a party to the proceedings, the National Bank of Slovakia may, by decision, permit another entity to join these proceedings, on the basis of its application to join the proceedings and with the consent of the party to the proceedings. The provisions of paragraphs 1 to 6 shall apply mutatis mutandis to the submission of an application to join the proceedings. The provision of paragraph 3 letter i) and paragraph 5 shall apply mutatis mutandis to the consent of the party to the proceedings to the joining of another entity to the proceedings. No remedy may be filed against a decision on the joining of another entity to the proceedings.

§ 17

(1)

Proceedings before the National Bank of Slovakia shall be closed to the public.

(2)

If it is necessary for a decision in the matter, the National Bank of Slovakia shall hold an oral hearing, to which it shall summon the parties to the proceedings and other persons whose participation is necessary. The National Bank of Slovakia shall draw up a record of the oral hearing from the oral hearing.

(3)

It must be apparent from the record of the oral hearing in particular who conducted the hearing, where and when, its subject matter, which persons participated in it, the course of the hearing, what proposals were submitted at it, and possibly what measures were adopted at the hearing.

(4)

The minutes of the oral hearing shall be signed, after becoming acquainted with their content, by the persons who participated in the hearing and by the employee of the National Bank of Slovakia who conducted the hearing. Refusal to sign and the reasons given for the refusal and objections to the content of the minutes of the oral hearing shall be recorded in the minutes.

(5)

The provisions of paragraphs 2 to 4, Section 5(2) and Section 6 shall apply mutatis mutandis also to a local inspection; for a local inspection, the National Bank of Slovakia shall summon in particular the parties to the proceedings and the person who is authorised to dispose of the subject of the local inspection.

(6)

The official record shall capture important facts that are relevant to the proceedings in the matter and for which no minutes are drawn up, for example the content of important telephone conversations between the parties to the proceedings and the employee of the National Bank of Slovakia who conducts the proceedings. The official record shall be signed by the employee of the National Bank of Slovakia who drew it up; the provisions of paragraph 3 shall apply mutatis mutandis to the other requirements and content of the official record.

(7)

The parties to the proceedings and their representatives shall have the right to inspect the file of the proceedings, with the exception of the minutes of the voting of the Bank Board, and to make extracts from it at their own expense; the file may not be made accessible or provided to other persons, except for making it accessible or providing it under Section 2(6) or for purposes related to the performance of supervision over a supervised entity. A party to the proceedings and its representative shall have the right to have the National Bank of Slovakia, at their request and against reimbursement of material costs, make a copy of the minutes or another document from the file, as well as a copy of a means of evidence in electronic form on a durable medium, which forms part of the file. The National Bank of Slovakia may return from the file to a party to the proceedings the original of a document submitted by it if the party to the proceedings demonstrates an urgent legal interest in such return and also pays in advance the costs associated with ensuring that a certified copy of the relevant document is made by the National Bank of Slovakia.

(8)

The National Bank of Slovakia shall be obliged to take measures to ensure that inspection of files does not result in unauthorised disclosure of classified facts, trade secrets, banking secrets, tax secrets and other information classified or protected by an obligation of confidentiality expressly imposed or recognised under special laws; 23 ) the provision of Section 3(7) shall apply mutatis mutandis.

Section 18

(1)

In the proceedings, the National Bank of Slovakia shall deliver documents itself or through a postal undertaking, unless this Act or a special regulation 1 ) provides otherwise. A document may be delivered to the addressee at its registered office, place of business, apartment, workplace or wherever the addressee may be found. Decisions of the National Bank of Slovakia in the matter, documents for which this is provided by a special regulation, 1 ) and other important documents designated by the National Bank of Slovakia must be delivered into the addressee's own hands.

(2)

Documents whose addressee is a legal person shall be delivered to employees authorised to receive documents on behalf of the legal person or to a person authorised to act on behalf of the legal person; if there are no such persons, the document shall be delivered to any of its employees who accepts the document. If, when a document is delivered by the National Bank of Slovakia itself, it is not possible to deliver the document, the document shall be stored for that legal person at the National Bank of Slovakia with the effects of delivery from the day of storage; an official record shall be drawn up of this delivery and storage of the document. The provisions of this paragraph shall apply mutatis mutandis to the delivery of documents to a natural person who is an entrepreneur if the document is delivered to the address of that person's place of business. The provisions of this paragraph shall likewise apply to the delivery of documents to an addressee who is a natural person against whom, under this Act and a special regulation, 29a ) proceedings may be conducted in connection with the performance of that person's function for a supervised entity or for that person's transactions, acts or other activity related to a supervised entity, 29b ) if the document is delivered to the address of that person's permanent residence, the address of that person's temporary residence or the address of that person's workplace.

(3)

If the addressee to whom a document is to be delivered into their own hands is not found, although they are staying at the place of delivery, the postal deliverer shall inform them in a suitable manner of substitute delivery of the document. If even substitute delivery is unsuccessful, the postal deliverer shall store the document at the delivery post office and invite the addressee in a suitable manner to collect the document during the collection period. If the addressee does not collect the document within three working days of storage, the last day of that period shall be considered the day of delivery, even if the addressee did not learn of its storage. The place of delivery at which an addressee who is a legal person is staying shall be considered to be the address of its registered office; 29c ) the place of delivery at which an addressee who is a natural person entrepreneur is staying shall be considered to be the address of that person's place of business. 29c ) The place of delivery at which an addressee who is a natural person against whom, under this Act and a special regulation, 29a ) proceedings may be conducted in connection with the performance of that person's function for a supervised entity or for that person's transactions, acts or other activity related to a supervised entity, 29b ) is staying shall be considered to be the address of that person's permanent residence, the address of that person's temporary residence or the address of that person's workplace.

(4)

If the addressee refused to accept the document, 30 ) it shall be deemed delivered on the day on which its acceptance was refused; the deliverer must warn the addressee of this. Refusal to accept a document shall be deemed to include refusal to take over the document being delivered, insistence on opening the document being delivered before taking it over, or refusal to confirm receipt of the document being delivered.

(5)

If a document cannot be delivered to the addressee at the address for delivery of documents that the addressee notified in writing to the National Bank of Slovakia in the proceedings, the document shall be deemed delivered three days after the undelivered document is returned to the National Bank of Slovakia, even if the addressee does not learn of this. A document in electronic form required under special regulations, 26b ) which is sent to the addressee to the email address that he/she has notified in writing in the proceedings or that is known to the National Bank of Slovakia, shall be deemed delivered on the day it is sent to the relevant email address of the addressee, even if the addressee does not learn of it; such electronic delivery of the electronic form of the document shall be deemed delivery of this document into the addressee's own hands.

(6)

If the address pursuant to paragraph 5 has not been notified to the National Bank of Slovakia and a document addressed to a legal entity cannot be delivered to the address of its registered office stated in the list maintained by the National Bank of Slovakia under the law, or in the commercial register or other publicly accessible official register in which it is registered, 31 ) the document shall be deemed delivered after three days from the return of the undelivered document to the National Bank of Slovakia, even if the addressee does not learn of it.

(7)

If the address pursuant to paragraph 5 has not been notified to the National Bank of Slovakia and a document addressed to a natural person who is an entrepreneur cannot be delivered to the address of his/her place of business stated in the list maintained by the National Bank of Slovakia under the law, or in the commercial register, trade register or other publicly accessible official register in which he/she is registered, 32 ) the document shall be deemed delivered after three days from the return of the undelivered document to the National Bank of Slovakia, even if the addressee does not learn of it. The provisions of this paragraph shall apply equally to the delivery of documents to an addressee who is a natural person against whom, under this Act and a special regulation, 29a ) proceedings may be conducted in connection with the performance of his/her function for a supervised entity or for his/her transactions, acts or other activity related to the supervised entity, 29b ) if the document is delivered to the address of his/her permanent residence, the address of his/her temporary residence or the address of his/her workplace.

(8)

If the addressee reserves delivery of consignments to a post office box, the delivery post office shall notify the addressee of the arrival of the consigned document, the possibility of collection and the collection period on the prescribed form, which it shall place in the post office box. If, based on an agreement, the addressee collects consignments at the delivery post office and does not have an assigned box, the delivery post office shall not notify the arrival of the consigned document. In both cases, the date of delivery of the consigned document to the delivery post office shall be deemed the date of its storage. If the addressee does not collect the consigned document within three working days from the date of storage, the last day of this period shall be deemed the day of its delivery, even if the addressee did not learn of its storage.

(9)

Paragraphs 5 to 8 shall not apply to the delivery of a decision on the introduction of forced administration over a supervised entity under a special law 28 ) nor to the delivery of a decision on the imposition of an early intervention measure under a special law. 28a )

(10)

A party to the proceedings who has its registered office or permanent residence abroad and does not have a representative for the entire proceedings with an address for delivery of documents in the territory of the Slovak Republic is obliged to appoint a representative for the delivery of documents in the territory of the Slovak Republic and to notify the National Bank of Slovakia in writing of his/her name, surname or business name and address for delivery. If the proceedings were initiated at the request of such a party to the proceedings, the party to the proceedings is obliged to appoint a representative for the delivery of documents in the request; in other cases, he/she is obliged to appoint such a representative in his/her first written submission to the National Bank of Slovakia. If such a party to the proceedings does not appoint a representative for the delivery of documents, documents shall be stored for him/her at the National Bank of Slovakia with the effects of delivery.

(11)

If a party to the proceedings has a representative for the entire proceedings or a representative for the delivery of documents with a registered office or permanent residence abroad, such a representative is obliged to designate an address for the delivery of documents in the territory of the Slovak Republic. If the representative under the first sentence does not designate an address for the delivery of documents in the territory of the Slovak Republic, documents intended for a party to the proceedings who has its registered office or permanent residence in the territory of the Slovak Republic shall be delivered to this party to the proceedings, and documents intended for a party to the proceedings who has its registered office or permanent residence abroad shall be stored for him/her at the National Bank of Slovakia with the effects of delivery.

(12)

If a party to the proceedings has a representative for the entire proceedings or a representative for the delivery of documents, a document intended for delivery into his/her own hands shall be delivered only to this representative; however, in addition to the representative for the entire proceedings, the document shall also be delivered to the party to the proceedings if the party to the proceedings is required to perform something personally in the proceedings. The provisions of paragraphs 1 to 8 shall also apply to the delivery of documents to a representative.

(13)

Documents intended for a lawyer may also be delivered to his/her legal trainee or another employee of the lawyer whom he/she has authorized to receive consignments; this shall apply mutatis mutandis to the delivery of documents intended for a notary or a court executor.

(14)

The National Bank of Slovakia shall deliver a document by public notice if so provided by this Act or special regulations, 1 ) or if the parties to the proceedings or their residence or registered office are not known to the National Bank of Slovakia. Delivery by public notice shall be carried out by posting the document for 15 days on a publicly accessible official notice board or publishing it on the website of the National Bank of Slovakia; if a preliminary measure under § 35e para. 3, a call under § 35ea para. 1 or a blocking measure is delivered in this way, it shall be published for three days on the website of the National Bank of Slovakia. The last day of this period shall be the day of delivery.

(15)

A party to the proceedings and his/her representative are obliged to notify the National Bank of Slovakia in writing without delay of any change of permanent residence, registered office, change of the person designated to receive documents or any fact necessary for the proper delivery of documents.

(16)

The data stated on the delivery receipt or other confirmation of delivery of the document shall be deemed true unless the contrary is proven.

§ 19

(1)

If necessary, the National Bank of Slovakia shall set a time limit for the performance of an act, if it is not laid down by law. The time limit set by the National Bank of Slovakia may be extended by the National Bank of Slovakia; however, the time limit set by the National Bank of Slovakia for the payment of a due fee laid down for an act or proceeding of the National Bank of Slovakia that are carried out on the basis of an application may not be extended.

(2)

The day on which the fact determining the beginning of the time limit occurred shall not be counted into the time limit. Time limits set according to weeks, months or years shall end upon the expiry of the day that by its designation corresponds to the day on which the fact determining the beginning of the time limit occurred, and if there is no such day in the month, the time limit shall end upon the expiry of the last day of the respective month. If the end of the time limit falls on a Saturday, Sunday or another day of rest, 33 ) the last day of the time limit shall be the nearest following working day.

(3)

Unless this Act or a special regulation 1 ) provides otherwise, the time limit shall be deemed to be observed if the submission is delivered to the National Bank of Slovakia or handed over for postal transport no later than on the last day of the time limit. In case of doubt, the time limit shall be deemed to be observed unless the contrary is proven.

(4)

The time limit laid down by this Act or a special regulation 25 ) for the extinction of liability, for the initiation of proceedings or for the imposition of remedial measures, fines or other sanctions on a supervised entity in a matter of a continuing deficiency shall begin to run on the last day of the duration of the respective deficiency, unless this Act or a special regulation 25 ) provides otherwise; this shall not affect the later commencement of the running of this time limit, which under this Act or a special regulation 25 ) begins to run only from the day the deficiency is ascertained. The limitation period laid down by this Act or a special regulation 25 ) for the extinction of liability, for the initiation of proceedings or for the imposition of remedial measures, fines or other sanctions for a deficiency ascertained during the performance of supervision shall be interrupted by the delivery of the record of the on-site supervision performed, as well as by the initiation of proceedings for the ascertained deficiency and also by the individual acts in the proceedings for the ascertained deficiency that follow thereafter, whereby a new limitation period shall begin to run from each interruption of the limitation period. The limitation period laid down by this Act or special regulations 25 ) for the extinction of liability, for the initiation of proceedings or for the imposition of remedial measures, fines or other sanctions for a deficiency ascertained during the performance of supervision shall not run during the procedure under § 35aa of the Act.

§ 20

(1)

If it is expedient for the economy, continuity or efficiency of proceedings, the National Bank of Slovakia may join into a joint proceeding the proceedings it conducts in matters that are factually related or concern the same parties to the proceedings; the proceedings shall be joined if a special act so provides.

(2)

The National Bank of Slovakia may divide into separate proceedings the proceedings it conducts in several matters, if the reasons for which these matters were joined into a joint proceeding have ceased to exist, if proceedings were initiated on the basis of an application in matters whose joinder is not appropriate with regard to their character, or if the division of the proceedings may accelerate the proceedings or prevent delays in the proceedings in any of the matters.

(3)

No remedy may be filed against a decision on the joinder of proceedings or on the division of proceedings.

§ 21

(1)

The National Bank of Slovakia may suspend proceedings if

the party to the proceedings has been called upon to remove deficiencies or to supplement its application or to remove other deficiencies ascertained in proceedings initiated on the basis of an application of the party to the proceedings, or if the party to the proceedings has been called upon to pay a fee for an act or proceeding that is subject to a fee, or to submit proof of proper payment of the respective fee; such a call includes the instruction that if the party to the proceedings does not comply with the call within the set time limit, the proceedings shall be discontinued,

the party to the proceedings has been called upon to acquaint itself with the file basis for the proceedings or to state its position in writing on the file basis for the proceedings,

the National Bank of Slovakia has given the competent authority an impulse to initiate proceedings on a preliminary question, or if proceedings are ongoing in which a question is being resolved that may be of significance for the further procedural course or for the assessment of the factual state of the matter and for the decision of the National Bank of Slovakia, or an impulse for such proceedings has been given, or if the National Bank of Slovakia has submitted the file basis for the proceedings to a court at the court's request,

the National Bank of Slovakia has ordered an appointed expert to prepare an expert opinion on the matter,

the National Bank of Slovakia has requested another public authority, a foreign supervisory authority or another person for an expert statement or for the provision of bases on the matter,

the ministry has been called upon to take a position on the matter, 34 )

the party to the proceedings has proposed in writing the suspension of proceedings that were initiated on the basis of an application of this party to the proceedings; in such a case, the National Bank of Slovakia may suspend the proceedings as a rule for a maximum of 30 calendar days.

(2)

If the ministry has been called upon to take a position on the matter, 34 ) the ministry shall submit its written position to the National Bank of Slovakia within 30 calendar days and in particularly complex matters within 60 calendar days from the day on which the call of the National Bank of Slovakia to take a position was delivered to it.

(3)

No remedy may be filed against a decision on the suspension of proceedings.

(4)

If the reasons for the suspension of proceedings cease to exist, the National Bank of Slovakia shall continue the proceedings without delay.

(5)

If the proceedings are suspended under paragraph 1 or under special regulations, 34a ) the procedural time limits for the proceedings and decision under this Act and special acts shall not run. 35 )

§ 22

(1)

The National Bank of Slovakia shall discontinue proceedings if

the party to the proceedings has not removed the deficiencies of the application or has not supplemented the application on the basis of which the proceedings were initiated within the time limit set by the National Bank of Slovakia,

the party to the proceedings withdrew its application in its entirety before the decision in the matter was issued, on the basis of which the proceedings were initiated; if several parties to the proceedings filed a joint application, this application may be withdrawn only with the consent of all parties to the proceedings who filed this application,

in proceedings initiated on the basis of an application, it is proven that the person who filed this application is not a party to the proceedings nor a person authorised to act for a party to the proceedings,

the reason for the proceedings initiated on the initiative of the National Bank of Slovakia ceased to exist, or if, during the proceedings, it is established that there was no reason for initiating the proceedings or that the reason for continuing the proceedings ceased to exist,

an application in the same matter has already been decided with final effect and the factual situation has not changed substantially,

a natural person who is a party to the proceedings has died or has been declared dead and the proceedings do not concern another party to the proceedings,

a legal person which is a party to the proceedings has ceased to exist without a legal successor and the proceedings do not concern another party to the proceedings,

not even part of the prescribed fee has been paid in accordance with this Act for an act or procedure of the National Bank of Slovakia carried out on the basis of an application pursuant to this Act and a special Act; the National Bank of Slovakia need not discontinue the proceedings if it establishes that the entire prescribed fee was paid subsequently, at the latest by the day of issuing the decision to discontinue the proceedings,

the limitation periods prescribed by this Act or by special regulation 25 ) for the extinction of liability, for the initiation of proceedings or for the imposition of corrective measures, a fine or another sanction for a deficiency identified in the exercise of supervision have expired,

the National Bank of Slovakia establishes that other conditions prescribed by law for the proceedings are not fulfilled and their fulfilment is not possible.

(2)

No remedy may be filed against a decision to discontinue the proceedings pursuant to paragraph 1 (f) to (h); in the cases pursuant to paragraph 1 (f) and (g), the discontinuation of the proceedings shall only be noted in the file of the proceedings.

§ 23

(1)

Costs of the proceedings incurred by the National Bank of Slovakia shall be borne by the National Bank of Slovakia. Costs incurred in the proceedings by a party to the proceedings shall be borne by the party to the proceedings, including in relation to the costs of its representative and the costs of another person who performed an act in proceedings initiated on the application of a party to the proceedings. Costs incurred in the proceedings by a person other than a party to the proceedings shall be borne by that person, unless this Act provides otherwise.

(2)

A witness who has testified in the proceedings is entitled to reimbursement of demonstrably necessary and incurred cash expenses and demonstrably lost earnings. A person who is neither a party to the proceedings nor its representative and who submitted a document serving as evidence in the proceedings is entitled to reimbursement of demonstrably necessary and incurred cash expenses. Such a claim for reimbursement must be asserted within three working days from the day of the hearing of the witness or from the day of the submission of the document, otherwise the right to such reimbursement lapses.

(3)

The provisions of special regulations shall apply mutatis mutandis to the granting of remuneration and reimbursement of costs to an expert, interpreter or translator. 36 )

(4)

The National Bank of Slovakia may order a party to the proceedings to reimburse the costs of the proceedings which, due to its fault, were incurred by other parties to the proceedings or by the National Bank of Slovakia.

§ 24

(1)

All means may be used for taking evidence which make it possible to ascertain and clarify the factual and legal state of the matter and which were not obtained in breach of generally binding legal regulations.

(2)

Evidence is in particular the statement of a party to the proceedings, the hearing of a party to the proceedings, the hearing of a witness, an expert opinion, an official record, an expert report, a document and an on-site inspection.

(3)

A party to the proceedings is obliged, in support and proof of its assertions, to immediately submit documentary and other evidence at its disposal and to propose other evidence known to it; evidence which a party to the proceedings did not submit in the first-instance proceedings but submitted in the second-instance proceedings shall be taken into account in the second-instance proceedings only if the party to the proceedings proves that it objectively could not have submitted such evidence, through no fault of its own, before the issuance of the first-instance decision. The taking of evidence falls within the competence of the National Bank of Slovakia; the National Bank of Slovakia is authorised to take also such evidence as is neither submitted nor proposed by the parties to the proceedings, if it is significant for the proceedings and the decision in the matter.

(4)

Facts that are generally known or known to the National Bank of Slovakia from its activity need not be proven.

(5)

The National Bank of Slovakia may summon persons whose personal attendance is necessary in the proceedings and request them to report facts or to submit evidence which are significant for the proceedings and the decision in the matter. At the request of the National Bank of Slovakia and within the period set by it, every person is obliged to submit a written statement or to report in writing facts which are significant for the proceedings and the decision in the matter.

(6)

Evidence must be taken in such a manner as to prevent the unauthorised disclosure of classified facts, trade secrets, banking secrecy and tax secrecy, and to preserve the duty of confidentiality expressly imposed or recognised pursuant to special laws. 23 ) In such cases, a hearing may be conducted only if the person being heard has been released from the duty to keep such a secret or confidentiality by the competent authority or by the person in whose interest it has this duty. This applies mutatis mutandis also to the taking of evidence otherwise than by a hearing.

(7)

Every natural person is obliged to appear upon a summons to the National Bank of Slovakia and to testify as a witness about what is known to them concerning circumstances important for the proceedings in matters entrusted to the National Bank of Slovakia; they must testify truthfully and must not conceal anything. A witness may refuse to testify if by doing so they would expose themselves or a close person to the danger of criminal prosecution. 37 ) Before the commencement of the testimony, the identity of the witness must be established and they must be instructed about their rights and obligations, as well as about the legal consequences of an incomplete testimony, a false testimony or an unjustified refusal to testify pursuant to this Act.

(8)

If professional knowledge is required to clarify and assess facts important for the decision in the proceedings, the National Bank of Slovakia may appoint an expert pursuant to a special act, 38 ) and order the appointed expert to prepare a written expert opinion, or conduct his or her hearing.

(9)

The National Bank of Slovakia may order a person who has a document necessary for the taking of evidence to submit it. The submission of documents may be refused only on the grounds on which a witness is entitled to refuse to give testimony. The provisions of the first and second sentences shall apply equally to the submission of evidence other than documents.

(10)

If a preliminary question arises in the proceedings which may be significant for the further procedural procedure or the assessment of the factual state of the matter and the decision-making of the National Bank of Slovakia, and another competent authority has already decided on this question with final effect, the National Bank of Slovakia is bound by this decision. Otherwise, the National Bank of Slovakia may itself assess the preliminary question or give an impetus to the competent authority to initiate proceedings on the preliminary question. However, the National Bank of Slovakia may not, as a preliminary question, make a finding on the commission of a criminal offence and the perpetrator thereof, on the commission of a misdemeanour or other administrative tort and the perpetrator thereof, or on the personal status of a natural person or the existence of a legal person, if decision-making on these matters falls within the competence of a court or another competent public authority.

(11)

In deciding, the National Bank of Slovakia evaluates evidence according to free discretion, each piece of evidence individually and all evidence in their mutual context; it carefully takes into account everything that has been revealed in the proceedings. The National Bank of Slovakia ensures that no unjustified differences arise in the decision-making of factually and legally identical cases. The factual and legal state at the time of its issuance is decisive for the decision, unless this Act provides otherwise.

§ 25

(1)

If it is necessary to secure the purpose of the proceedings or to immediately regulate relations, the National Bank of Slovakia may, within the proceedings, issue a preliminary measure by which, to the extent absolutely necessary

orders a party to the proceedings to do something, to refrain from something or to tolerate something,

orders the securing of things necessary for the taking of evidence.

(2)

If a preliminary measure was issued at the instigation of the National Bank of Slovakia at the beginning of the proceedings before the performance of other acts, then its delivery to a party to the proceedings shall be deemed the first act in the proceedings and the proceedings in the matter in which this preliminary measure was issued shall be initiated by this delivery, unless a special regulation provides otherwise; 36a ) by this delivery, the information obligation of the National Bank of Slovakia pursuant to Section 16 (2) shall also be fulfilled vis-à-vis the relevant party to the proceedings. The proceedings in the matter are not limited by the scope and reasons of the issued preliminary measure; if the reasons for the proceedings in the matter extend beyond the preliminary measure, the provisions of Section 16 (6) and (7) shall apply mutatis mutandis to the procedure for extending the reasons for the proceedings.

(3)

The National Bank of Slovakia shall revoke the interim measure on its own initiative as soon as the reason for which it was issued ceases to exist, or if the circumstances change such that the interim measure is no longer necessary or expedient; otherwise, the interim measure expires upon the lapse of time if it was issued for a definite period, or on the day the decision in the matter becomes final. If the grounds for revocation under the first sentence relate only to part of the interim measure, the National Bank of Slovakia shall revoke the relevant part of the interim measure.

(4)

An appeal against a decision on an interim measure does not have suspensive effect.

§ 26

Unless this Act or a special regulation 1) provides otherwise, before issuing a decision in the matter, the National Bank of Slovakia is obliged to invite the parties to the proceedings to familiarize themselves with the file basis for the proceedings and to comment on it in writing within a time limit set by the National Bank of Slovakia; unless this Act or a special regulation 1) provides otherwise, the time limit for familiarization with the file basis may not be shorter than five working days from the date of delivery of the invitation, and the time limit for the written comment of the party to the proceedings on the file basis for the proceedings may not be shorter than five working days from the date designated for the party to the proceedings to familiarize itself with this file basis. This does not apply to the issuance of an interim measure or a procedural measure, to the introduction of compulsory administration over a supervised entity under a special act, 28) to the imposition of an early intervention measure under a special act, 28a) to a takeover bid under a special act, 29) nor before the issuance of a decision on an objection of bias, a decision to discontinue the proceedings or a decision in proceedings initiated at the request of a party to the proceedings, if the basis for the decision in these proceedings consists only of documents and other evidence submitted by the party to the proceedings or if in these proceedings the party to the proceedings is fully granted its request. If a party to the proceedings familiarizes itself with the file basis for the proceedings, the National Bank of Slovakia shall draw up a record thereof.

§ 27

(1)

A decision of the National Bank of Slovakia must contain the operative part, the statement of reasons and instructions on appeal.

(2)

The operative part contains the decision in the matter, stating the provision of the generally binding legal regulation under which it was decided, and possibly also the decision on the obligation to reimburse the costs of the proceedings. If the decision in the matter is conditional upon the fulfilment of conditions, these conditions shall also be stated in the operative part of the decision; the fulfilment of these conditions shall be demonstrated to the National Bank of Slovakia within the time limit set by the National Bank of Slovakia. If the fulfilment of these conditions is not demonstrated within the set time limit, the National Bank of Slovakia shall revoke the decision, unless a special act provides otherwise. Obligations imposed directly by law shall not be imposed in the operative part of the decision.

(3)

The statement of reasons shall state which factual findings were the basis for the decision, from which evidence and what considerations in evaluating the evidence the decision proceeds, and under which provisions of generally binding legal regulations the established factual state was assessed. A statement of reasons is not required if all parties to the proceedings are fully granted their requests.

(4)

The instructions on appeal shall state whether the decision is final or whether an appeal may be lodged against it, the possibility of waiving the appeal, within what time limit and to whom the appeal may be lodged.

(5)

In the written copy of the decision of the National Bank of Slovakia, it shall state who issued the decision, the date of issuance of the decision, the identification data of the party to the proceedings and its representative, if the party to the proceedings has one, namely in the case of a legal entity its business name or other name, the address of its registered office and its identification number, if assigned, and in the case of a natural person, including a natural person who is an entrepreneur, their first name, surname, birth number or date of birth, or identification number, if assigned, and the address of permanent residence or the address of the place of business, if the place of business is different from the permanent residence. The decision must contain an imprint of the round official stamp of the National Bank of Slovakia with the state emblem and a signature stating the first name, surname and function of the authorized person. In the operative part of the first-instance decision of the National Bank of Slovakia issued by the financial market supervision department, it shall be expressly stated that the decision was issued by the financial market supervision department; in the operative part of the second-instance decision, it shall be expressly stated that the decision was issued by the bank board. The authorized person to sign second-instance decisions is the governor or a vice-governor 39 ) authorized by him, or another member of the bank board who did not sign the first-instance decision in the same matter. Details on authorized persons to sign first-instance decisions and second-instance decisions may be determined by the bank board.

(6)

The National Bank of Slovakia shall at any time, even without a motion, correct errors in writing, calculation and other obvious inaccuracies in the written copy of the decision and shall immediately inform the parties to the proceedings thereof.

(7)

The operative part of a final decision on the withdrawal of a license granted to a supervised entity under a special regulation, 1 ) the notification of the expiry of a license granted to a supervised entity under a special regulation, 1 ) the operative part of an enforceable decision on the introduction of forced administration over a supervised entity under a special regulation 1 ) and the operative part of an enforceable decision on the restriction or suspension of the performance of activities or any activity of a supervised entity under a special regulation 1 ) shall be published by the National Bank of Slovakia in the Bulletin of the National Bank of Slovakia 40 ) (hereinafter referred to as the "Bulletin") or on the website of the National Bank of Slovakia, possibly also in the periodic press and other mass media. The National Bank of Slovakia may also publish the operative part or part of the operative part of another of its final or enforceable decisions or the reasoning of a decision, or parts thereof, if it considers it expedient from the point of view of informing the clients of the supervised entity, from the point of view of the enforceability of the decision or from the point of view of the effectiveness of supervision over the supervised entity.

§ 28

(1)

A decision is notified to a party to the proceedings by delivery of a written copy of the decision. The day of delivery of the decision is the day of its notification.

(2)

A delivered decision against which no appeal may be lodged is final.

(3)

A delivered decision is enforceable if no appeal may be lodged against it or if the appeal does not have suspensive effect. If an obligation to perform is imposed in the decision, the decision is enforceable only after the time limit for performance has expired.

(4)

The operative part of an enforceable decision is binding on the parties to the proceedings and public authorities.

(5)

A party to the proceedings is obliged to inform the National Bank of Slovakia of the fulfilment of an obligation or condition arising from a decision in the matter no later than within the time limit laid down by special regulations, 1 ) and if such a time limit is not laid down, within the time limit determined by the decision in the matter, if determined; otherwise without delay after the fulfilment of the relevant obligation or condition.

§ 29

(1)

The department of supervision over the financial market of the National Bank of Slovakia shall have jurisdiction over proceedings and decision-making of the National Bank of Slovakia at first instance, unless this Act or a special Act 20 ) provides otherwise.

(2)

The financial market supervision department shall decide on an application for the granting or amendment of a license or permit for a supervised entity under a special regulation within six months of the delivery of a complete application, and on an application for the granting of an approval, consent or prior consent, or on another application under a special regulation, it shall decide within three months of the delivery of a complete application, unless a special regulation lays down a different time limit for a decision; 35 ) however, it shall decide no later than within 12 months of the delivery of the application. If the financial market supervision department needs cooperation within the European System of Financial Supervision 1b ) or within the single supervisory mechanism 1ab ) for its decision on the application, it shall decide no later than within 18 months of the delivery of the application, unless special regulations lay down a different time limit for a decision. 35 )

(3)

If the National Bank of Slovakia finds a negligible breach of an obligation laid down by this or a special Act before the commencement of proceedings for the imposition of a remedial measure or sanction under a special Act, it shall consider whether to commence such proceedings or to set the matter aside, if, given the negligible nature of the breach, the proceedings would be ineffective. In doing so, the National Bank of Slovakia shall proceed primarily from the nature, gravity, duration and consequence of the unlawful conduct. If the National Bank of Slovakia does not commence proceedings, it shall draw up a record of setting the matter aside; a decision on setting the matter aside shall not be issued.

(4)

A party to the proceedings has the right to lodge an appeal against a first-instance decision, unless this Act or a special Act provides otherwise or unless the party to the proceedings has waived the appeal in writing or orally into the record after the issuance of this decision; withdrawal of the appeal shall also be considered a waiver of the appeal. A waiver of appeal cannot be revoked. An appeal lodged does not have suspensive effect, unless this Act or a special Act provides otherwise. Suspensive effect is always had by an appeal lodged against a first-instance decision on the imposition of a fine under this Act or a special Act and an appeal lodged against a first-instance decision on the withdrawal of a license or permit granted to a supervised entity under a special Act.

(5)

An appeal against a first-instance decision shall be lodged with the financial market supervision department that issued this decision. An appeal against a first-instance decision may be filed within 15 calendar days from the date of delivery of this decision. The scope in which the first-instance decision is contested by the appeal, and the grounds of the appeal filed, may be extended, changed or supplemented only until the expiry of the time limit for filing the appeal.

§ 30

(1)

The financial market supervision unit may decide on the appeal itself if it fully grants the appeal, and it may supplement the taking of evidence as necessary.

(2)

If the financial market supervision unit does not decide on the appeal under paragraph 1, it shall submit it, together with the results of the proceedings to date, the file material and its opinion on the appeal filed, to the Bank Board within 30 calendar days from the date on which the appeal was delivered to it.

§ 31

If the financial market supervision unit has contrary to law not commenced proceedings or does not continue proceedings, if the financial market supervision unit has not decided within the time limit for decision laid down by this Act or by a special regulation, 1 ) if other serious deficiencies occur in the proceedings or decision-making of the financial market supervision unit or if it is necessary for addressing a crisis situation threatening the stability of the financial system, while remedy in the matter cannot be achieved otherwise, the Bank Board shall, if necessary, itself conduct the proceedings and decide at first instance in the matter or designate another professionally competent organisational unit of the National Bank of Slovakia to conduct the proceedings and decide at first instance. The provisions of this Act on the proceedings and decision-making of the financial market supervision unit shall likewise apply to such proceedings and decision-making, while in proceedings of the Bank Board the taking of evidence and other acts in the proceedings shall be performed either by the Bank Board itself or through an organisational unit of the National Bank of Slovakia designated by it.

§ 32

(1)

The Bank Board shall decide on an appeal against a first-instance decision. The Bank Board may supplement the evidence if it can be taken in the appeal proceedings without the risk of causing delays in the proceedings and if it is necessary for a decision in the matter, while it shall perform the taking of evidence and other acts in the proceedings either itself or through an organisational unit of the National Bank of Slovakia designated by it; the acts under § 26 shall not be performed if no evidence was supplemented in the appeal proceedings, or if only evidence submitted by a party to the proceedings was supplemented.

(2)

If the first-instance decision was issued contrary to law or to another generally binding legal regulation or on the basis of an insufficiently established factual state or if the first-instance decision was incorrect although the factual state was correctly established, or if the operative part of the first-instance decision contains errors in writing, calculation or other obvious inaccuracies, the Bank Board shall amend or annul the first-instance decision; otherwise it shall dismiss the appeal and confirm the first-instance decision. The Bank Board may also annul the first-instance decision if the appeal filed requires a more extensive supplementation of evidence which cannot be taken in the appeal proceedings without the risk of causing delays in the proceedings. The Bank Board shall reject by decision an appeal that was filed late or that was filed by a person who is not entitled to file an appeal, or if the appeal is directed against a decision against which an appeal is not admissible.

(3)

If the Bank Board annuls the first-instance decision, it shall discontinue the proceedings if there is a reason for doing so, or return the matter for further first-instance proceedings and a new decision, in which the financial market supervision unit shall be bound by the decision and legal opinion of the Bank Board.

(4)

No further appeal may be filed against a decision of the Bank Board on an appeal.

(5)

A final decision may be reviewed by the Bank Board on its own initiative or on another impulse. The Bank Board shall amend or annul the decision under review if it was issued contrary to law or to another generally binding legal regulation and three years have not elapsed since it became final. For the decision, the factual and legal state at the time of issuance of the decision under review shall be decisive. No further appeal may be filed against this decision of the Bank Board.

(6)

The Bank Board shall decide on a protest of the prosecutor 41 ) against a decision of the National Bank of Slovakia; the provisions of paragraphs 1 to 3 and § 12 to 31 and § 33 shall apply mutatis mutandis to such proceedings and decision-making.

§ 33

The lawfulness of final decisions and of the procedure of the National Bank of Slovakia in supervision matters shall be reviewable by an administrative court under a special Act. 42 ) During court proceedings under a special Act 42 ) on the review of the lawfulness of a decision or procedure of the National Bank of Slovakia in a supervision matter that is the subject of review by an administrative court, the time limits laid down for the extinction of liability, for the commencement of proceedings or for the imposition of remedial measures, fines or other sanctions under special Acts shall not run. 42a )

§ 34

If a party to the proceedings does not voluntarily fulfil within the set time limit an obligation imposed by an enforceable decision of the National Bank of Slovakia, the National Bank of Slovakia shall be obliged to ensure the enforcement of the decision; for this purpose the National Bank of Slovakia shall also be entitled to file a motion for judicial enforcement of the decision or a motion for execution by a court executor, and in ensuring the enforcement of a decision imposing a non-monetary performance the National Bank of Slovakia shall be entitled to file with the court 42b ) a motion for the issuance of an interim measure or a securing measure and a motion for the replacement of the expression of will of the sanctioned person by a court decision, if the enforcement of the imposed non-monetary performance can thereby be ensured. A fine finally imposed, the proceeds of which are revenue of the state budget, shall be administered by the Government Audit Office; 42c ) for this purpose the National Bank of Slovakia shall send to the Government Audit Office the final decision imposing the fine.

§ 34a

The provisions of § 12 to 34 and 38 shall apply mutatis mutandis also to the procedure of the National Bank of Slovakia in providing cooperation and in preparing the basis for the proceedings and decision-making of the European Central Bank within the single supervisory mechanism under special regulations 1ab ) or of another supervisory authority within the European System of Financial Supervision. 1b )

PART FOUR

PROCEDURE IN REMOTE SUPERVISION

§ 35

(1)

For the purposes of remote supervision and for statistical purposes in the supervision of the financial market, supervised entities are obliged to prepare and submit to the National Bank of Slovakia, free of charge and in a timely manner, comprehensible and clear statements, reports, notifications and other information, documents and evidence concerning facts relating to the supervised entities and their shareholders or other partners, in particular their economic and financial situation, assets, transactions or other activities of the supervised entities, as well as the organisation, management, structure, control or ownership of the supervised entities, including holdings in the supervised entities and their owners, at the request of the National Bank of Slovakia and also in accordance with a generally binding legal regulation issued under paragraph 2. The data stated in the submitted statements, reports, notifications and other information, documents and evidence must be complete, current, correct, true and verifiable. If the submitted statements, reports, notifications and other information and documents do not contain the required data, do not comply with the established methodology, or if reasonable doubts arise as to their completeness, currency, correctness, truthfulness, verifiability or authenticity, the supervised entities are obliged, at the request of the National Bank of Slovakia, to submit the underlying documents and provide an explanation within the time limit set by the National Bank of Slovakia. Supervised entities are equally obliged to submit to the National Bank of Slovakia also an interim financial statement and an interim consolidated financial statement.

(2)

The measures that the National Bank of Slovakia may issue and which are announced in the Collection of Laws of the Slovak Republic shall establish the structure of the statements, reports, notifications and other information that supervised entities are obliged to prepare and submit to the National Bank of Slovakia, the scope, content, breakdown, deadlines, form, format, method, procedure and place of submission of such statements, reports, notifications and other information, including the methodology for their preparation, as well as the method and deadlines for submitting the interim financial statement and interim consolidated financial statement of supervised entities to the National Bank of Slovakia.

PART FIVE

PROTECTION OF FINANCIAL CONSUMERS

§ 35a

In the protection of financial consumers, the National Bank of Slovakia performs activities and exercises powers under this Act and special regulations in the area of the financial market. 1 )

§ 35aa

Voluntary measure

(1)

The National Bank of Slovakia is obliged, no later than before the commencement of proceedings for the imposition of a remedial measure or other sanction for a breach of an obligation in the area of protection of financial consumers under this Act or special regulations 1 ), to instruct the supervised entity about the possibility of adopting a voluntary measure and about the consequences of its adoption under paragraph 14. This shall not apply if it concerns a repeated breach of the same obligation in the area of protection of financial consumers within a period of 12 consecutive months, a breach of an obligation in the area of protection of financial consumers committed by the supervised entity before a decision was issued by which the National Bank of Slovakia imposed a sanction on the supervised entity for a breach of another obligation in the area of protection of financial consumers, if the National Bank of Slovakia commences proceedings for the imposition of a sanction by issuing a preliminary measure under § 35e(3), upon the introduction of forced administration over the supervised entity under special regulations, 28 ) upon the imposition of an early intervention measure, 28a ) the issuance of an intervention measure or a temporary urgent intervention measure. The National Bank of Slovakia may, during an on-site supervision, also provide the instruction under the first sentence orally. In the instruction under the first sentence, the National Bank of Slovakia shall set a reasonable time limit, which must not be shorter than 30 days from the date of delivery of the written instruction under the first sentence or the notification of the instruction under the preceding sentence, within which the supervised entity may deliver a draft voluntary measure to the National Bank of Slovakia. The National Bank of Slovakia may, at the request of the supervised entity, extend the time limit under the preceding sentence by no more than 30 days, and in justified cases also repeatedly.

(2)

A voluntary measure means a written binding declaration of the supervised entity that it has voluntarily terminated or will terminate the breach of an obligation in the area of protection of financial consumers and, if the nature of the breach permits, has also carried out or will carry out remediation in favour of the financial consumers who were harmed by the breach of the obligation of the supervised entity or whose rights or legally protected interests were otherwise affected by the breach of the obligation.

(3)

The supervised entity shall deliver the draft voluntary measure to the National Bank of Slovakia, stating in particular

the scope and content of the voluntary measure,

the method of implementation of the voluntary measure,

when the voluntary measure was fulfilled or the schedule for fulfilling the voluntary measure,

the method and time limit for demonstrating fulfilment of the voluntary measure to the National Bank of Slovakia,

whether, upon adopting the voluntary measure or upon fulfilling the voluntary measure, it cooperates with a consumer organisation, 42ca ) the author of a code of conduct, 42cb ) which the supervised entity has undertaken to comply with, with an interest association of legal persons of which it is a member, or with another entity, and to what extent.

(4)

An annex to the draft voluntary measure shall be a solemn declaration of the person under paragraph 3 letter e) that it cooperates in the adoption of the voluntary measure or in the fulfilment of the voluntary measure, if cooperation under paragraph 3 letter e) occurs.

(5)

The supervised entity may deliver the draft voluntary measure to the National Bank of Slovakia before the expiry of the time limit under paragraph 1. However, if the National Bank of Slovakia has not instructed the supervised entity under paragraph 1, the supervised entity may deliver the draft voluntary measure no later than before the commencement of proceedings for the imposition of a remedial measure or other sanction for a breach of an obligation in the area of protection of financial consumers to which the draft voluntary measure relates. A draft voluntary measure delivered later shall not be taken into account. The reason for a voluntary measure may also be a breach of an obligation in the area of financial consumer protection for which the limitation period for the extinction of liability, for the initiation of proceedings or for the imposition of remedial measures or another sanction for a deficiency identified during the performance of supervision has already expired.

(6)

On the basis of facts known to it and the facts stated in the draft voluntary measure, Národná banka Slovenska shall assess whether the draft voluntary measure

contains the requirements under paragraphs 3 and 4,

is sufficiently clear, specific and comprehensible,

is proportionate to the breach of the obligation by the supervised entity, in particular whether the termination of the breach of the obligation in the area of financial consumer protection will be achieved and, if the nature of the breach permits, also redress in favour of the financial consumers whose rights or legally protected interests were affected by the breach of the obligation; when assessing the proportionality of the draft voluntary measure, account shall be taken in particular of the nature, gravity, manner, scope, consequences, duration, circumstances of the breach of the obligation, the fact whether it is a repeated breach of the same obligation, the systematic nature of breaches of obligations in the area of financial consumer protection by the supervised entity and the previous fulfilment of voluntary measures by the supervised entity.

(7)

If Národná banka Slovenska preliminarily assesses that the implementation of the draft voluntary measure can achieve compliance with legal regulations and, if the nature of the breach permits, also redress in favour of financial consumers, but it has reservations regarding the requirements of the draft voluntary measure under paragraph 3 or paragraph 4, it shall inform the supervised entity of the reservations and set a reasonable time limit for supplementing or amending the draft voluntary measure. On the basis of the reservations of Národná banka Slovenska, the supervised entity may supplement or amend the draft voluntary measure within the time limit set by Národná banka Slovenska. In justified cases, Národná banka Slovenska may extend the time limit referred to in the preceding sentence at the request of the supervised entity. Národná banka Slovenska may also raise reservations regarding the draft voluntary measure repeatedly.

(8)

If Národná banka Slovenska evaluates that the draft voluntary measure meets the requirements under paragraph 6, it shall notify the supervised entity of the result of the evaluation. The supervised entity is obliged to fulfil the voluntary measure and to demonstrate its proper fulfilment within the time limit set in the voluntary measure. For the purpose of verifying the proper fulfilment of the voluntary measure, Národná banka Slovenska may request from the supervised entity further information and documents and from the person under paragraph 3 letter e) who cooperated in the fulfilment of the voluntary measure, an opinion on the course and result of the fulfilment of the voluntary measure.

(9)

After notifying the result of the evaluation of the draft voluntary measure under paragraph 8, which the supervised entity has yet to fulfil, Národná banka Slovenska shall publish on its website information about the voluntary measure, which includes in particular the identification of the supervised entity that adopted the voluntary measure and the requirements of the voluntary measure under paragraph 3 letters a) and c). Národná banka Slovenska shall publish the information about the voluntary measure until the fulfilment of the voluntary measure is demonstrated or until a final decision on the merits is issued.

(10)

During the fulfilment of the voluntary measure, the supervised entity may change a requirement of the voluntary measure under paragraph 3 only with the consent of Národná banka Slovenska. When changing the voluntary measure during its fulfilment, the procedure shall be the same as for a draft voluntary measure; the first to third sentences of paragraph 5 shall not apply to a change of the voluntary measure. The supervised entity is obliged to fulfil the voluntary measure in its original wording if Národná banka Slovenska does not agree with the change of the voluntary measure.

(11)

If Národná banka Slovenska evaluates that the requirements under paragraph 6 cannot be met by the implementation of the draft voluntary measure, the supervised entity has not shown a genuine interest in achieving redress, or if the supervised entity without sufficient reasons rejects the reservations of Národná banka Slovenska regarding the draft voluntary measure, Národná banka Slovenska shall record this fact in the file and notify the result of the evaluation to the supervised entity no later than at the first written act vis-à-vis the supervised entity.

(12)

Národná banka Slovenska is not obliged to take into account repeated drafts of a voluntary measure in the same matter, except for supplements and amendments of the draft voluntary measure under paragraphs 7 and 10.

(13)

When assessing a draft voluntary measure, Národná banka Slovenska shall proceed without unnecessary delays in an effort to achieve a rapid termination of the breach of the obligation in the area of financial consumer protection and, if the nature of the breach permits, also redress in favour of financial consumers.

(14)

Národná banka Slovenska shall set aside the matter without initiating proceedings on the merits if it evaluates that the draft voluntary measure meets the requirements under paragraph 6 and the supervised entity has demonstrated the fulfilment of the voluntary measure under paragraph 8. Národná banka Slovenska shall draw up a record of the setting aside of the matter. A decision on the setting aside of the matter shall not be issued.

(15)

Národná banka Slovenska shall impose a remedial measure or another sanction to the extent and under the conditions under § 35f to 35h if the supervised entity has not fulfilled the voluntary measure in its entirety, has not demonstrated the fulfilment of the voluntary measure under paragraph 8, or if, after setting aside the matter under paragraph 14, it finds that the information provided by the supervised entity or the documents demonstrating the fulfilment of the voluntary measure are untrue.

§ 35b

Block proceedings

(1)

If, during the performance of on-site supervision, it was reliably established that the supervised entity in an individual case breached an obligation in the area of financial consumer protection under this Act or under a special regulation 1 ) and if the supervised entity agrees to pay a block fine, the person entrusted with the performance of supervision is authorised on behalf of Národná banka Slovenska to impose directly on site a fine on this supervised entity in block proceedings for the identified deficiency. The provisions of § 16(2) and (6) and § 26 shall not be applied before the imposition of a fine in block proceedings.

(2)

In block proceedings, depending on the gravity, scope, duration, consequences and nature of the identified deficiency, a fine of up to EUR 2 500 may be imposed.

(3)

The block on the imposition of a fine shall state the first name and surname of the person who imposed the fine on behalf of the National Bank of Slovakia, the number of the authorisation to perform on-site supervision and the information as to when, for what breach of duty and in what amount the fine was imposed in block proceedings. The block on the imposition of a fine shall also contain the imprint of the round official stamp of the National Bank of Slovakia with the state emblem and the signature of the person who imposed the fine on behalf of the National Bank of Slovakia.

(4)

If the supervised entity agrees to pay the imposed block fine and has sufficient funds to pay the imposed block fine on the spot in cash, the person authorised to perform supervision shall issue to it a block for the block fine paid on the spot. The supervised entity shall confirm in writing the acceptance of this block on the imposition of a fine directly at the place where the block fine was imposed, whereby this block is also a document on the consent of the supervised entity to the imposition of the block fine and to the payment of the imposed block fine on the spot in cash, which has the effects of a final and enforceable decision, and is also a confirmation of the payment of the block fine on the spot in cash, if the block fine was paid in this manner.

(5)

If the supervised entity agrees to pay the imposed block fine but does not have sufficient funds to pay the imposed block fine on the spot in cash, the person authorised to perform supervision shall issue to it a block for the block fine not paid on the spot with instructions on the method of payment of this fine, on the deadline for its payment within 30 days from the date of its imposition on the spot and on the consequences of non-payment of the imposed fine. The supervised entity shall confirm in writing the acceptance of this block on the imposition of a fine directly at the place where the block fine was imposed, whereby this block is also a document on the consent of the supervised entity to the imposition of the block fine and to the payment of the imposed block fine within the specified deadline, which has the effects of a final decision. If the supervised entity does not voluntarily pay the entire amount of the imposed fine within the specified deadline, the National Bank of Slovakia shall ensure the enforcement of the unpaid amount of the fine pursuant to § 34.

(6)

The block proceedings end upon payment of the fine. No remedy may be filed against the imposition of a fine in block proceedings, and its imposition may not be reviewed even outside appeal proceedings pursuant to § 32(5).

(7)

Blocks for the imposition of fines shall be issued by the National Bank of Slovakia.

§ 35c

Order proceedings

(1)

If, in the performance of supervision, it has been reliably established that the supervised entity in an individual case has breached a duty in the area of financial consumer protection under this Act or a special regulation 1 ) and if the matter has not been dealt with in block proceedings, the National Bank of Slovakia is competent, without further proceedings, to issue an order imposing a sanction on the supervised entity for the identified deficiency. The provisions of § 16(2) and (6) and § 26 shall not be applied before the issuance of an order imposing a sanction. For the assessment of a breach of duty as an individual case, it is not an obstacle if the National Bank of Slovakia, in the performance of supervision, reliably establishes a repeated identical breach or multiple similar breaches of duty in the area of financial consumer protection, committed by the same supervised entity against different financial consumers or in other different cases.

(2)

By an order imposing a sanction, depending on the gravity, scope, duration, consequences and nature of the identified deficiency, a fine of up to EUR 5 000, a measure to eliminate and remedy the identified deficiency and a prohibition on the use of an unfair commercial practice may be imposed. The sanctions under the first sentence may be imposed separately or concurrently and, for a continuing deficiency, also repeatedly; the sanctions under the first sentence may also be imposed repeatedly for a repeated identical breach or multiple similar breaches of duty in the area of financial consumer protection, committed by the same supervised entity against different financial consumers or in other different cases.

(3)

An order imposing a sanction shall contain the operative part, the statement of reasons and instructions on objection; the provisions of § 27 shall apply mutatis mutandis to an order imposing a sanction, and the provisions of § 18 shall apply to its delivery.

(4)

The supervised entity against which an order imposing a sanction has been issued may, within 15 days of its delivery, file a written objection with the National Bank of Slovakia against the issued order imposing a sanction, which must be reasoned. By the timely filing of a reasoned objection, the order imposing a sanction is annulled and the National Bank of Slovakia shall continue the proceedings at first instance, whereby it is not bound by the scope of the factual findings, the legal classification or the type and amount of the sanction under the annulled order imposing a sanction, nor by the further content of the annulled order imposing a sanction. If, before the issuance of the order imposing a sanction, no other act was performed against the party to the proceedings, after the timely filing of a reasoned objection, the delivery of the order imposing a sanction to the party shall be considered the first act in the proceedings.

(5)

An order imposing a sanction against which no reasoned objection was timely filed has the effects of a final decision against which no remedy may be filed.

§ 35d

(1)

The person authorised to perform on-site supervision is competent, on behalf of the National Bank of Slovakia, to impose directly on the spot on the supervised entity the immediate implementation of measures to eliminate the identified deficiency, including prohibiting the provision of a financial service or prohibiting the intermediation of a financial service to which the identified deficiency relates, until such deficiency is eliminated.

(2)

The measures under paragraph 1 shall be notified by the person authorised to perform on-site supervision orally to the supervised entity, and a written record thereof shall be drawn up without delay; from this notification to the supervised entity, the imposed measures are enforceable. If the supervised entity does not agree with the measures under paragraph 1, it may, within five working days from the date of delivery of the written record, file a written objection with the National Bank of Slovakia, which must be reasoned. The filing of an objection against the imposed measures does not have suspensive effect. The National Bank of Slovakia shall decide on the objection within ten working days from its filing; the provisions of § 29 para. 1 shall apply to the decision-making on the objection and the provisions of § 18 shall apply to the delivery of the decision on the objection. No remedy may be filed against the decision on the objection. The provisions of § 16 paras. 2 and 6 and § 26 shall not apply to the objection proceedings.

§ 35e

(1)

The National Bank of Slovakia shall, by decision, prohibit the supervised entity from

an unfair commercial practice, 42d ) even if it has not yet been carried out, but its carrying out is immediately imminent, and this also regardless of its causes and regardless of the occurrence of damage or causing another consequence to financial consumers,

using an unacceptable condition to the detriment of the financial consumer (hereinafter referred to as "unacceptable condition") in a contract for the provision of a financial service or negotiating contracts with financial consumers containing an unacceptable condition. 42e )

(2)

The National Bank of Slovakia is also, within the framework of the performance of its competence in the area of protection of financial consumers, competent to assess as a preliminary question the unfair commercial practices of supervised entities and unacceptable conditions in contracts for the provision of a financial service; this is without prejudice to the provision of § 2 para. 3 and § 24 para. 10 .

(3)

If the National Bank of Slovakia obtains a suspicion of a violation of consumer rights by a supervised entity that harms the collective interests of financial consumers, it is competent to issue an interim measure by which it imposes on the supervised entity to refrain from this violation of consumer rights; § 25 also applies to this interim measure.

§ 35ea

Blocking measure

(1)

If, as a result of a violation of an obligation in the area of protection of financial consumers, harm is caused to the collective interests of financial consumers or if there is a risk of serious harm to the collective interests of financial consumers, the National Bank of Slovakia is authorised to call in writing on the entity that operates or on whose behalf an online interface is operated, 42ea ) if it is a supervised entity or if, within the content of the online interface, the provision of financial services is presented, for the provision of which a licence or other granted authorisation to carry out activities in the financial market is required 42eb ) or registration to carry out activities in the financial market is required, 42eb ) to remove or change the content published in the online interface, restrict or prevent financial consumers' access to the online interface, access to some or all functions or services of the online interface, or publish a warning for financial consumers who access the online interface, within the time limit set by the National Bank of Slovakia. The National Bank of Slovakia shall publish the call under the preceding sentence on its website for three days if the entity that operates or on whose behalf the online interface is operated cannot be identified; the last day of the time limit is considered the day of delivery of the call.

(2)

If the purpose cannot be achieved otherwise and the supervised entity does not comply with the call under paragraph 1 or if it is clear from all circumstances that the procedure under paragraph 1 will not result in immediate remedy, or on the basis of a request or in a coordinated procedure under a special regulation, 42ec ) the National Bank of Slovakia may issue a blocking measure by which it orders the affected entity to

remove or change the content published in the online interface,

restrict or prevent financial consumers' access to the online interface, access to some functions or all functions or services of the online interface, or

publish a warning for financial consumers who access the online interface.

(3)

The National Bank of Slovakia may impose a blocking measure under paragraph 2 concurrently with another blocking measure under paragraph 2.

(4)

The provisions of § 18 and 25 apply to a blocking measure, unless otherwise provided in paragraphs 5 to 13.

(5)

A blocking measure contains

the identification of the entity to which the blocking measure is imposed; this does not apply if the entity that operates the online interface, on whose behalf the online interface is operated or to which the content published in the online interface relates cannot be identified,

the identification of the online interface to which the blocking measure relates,

the definition of the type and scope of the obligation under paragraph 2 that is imposed on the affected entity; if the National Bank of Slovakia imposes a measure under paragraph 2 letter c), the blocking measure also contains the exact wording of the warning for financial consumers that the affected entity is obliged to publish in the online interface,

the time limit within which the affected entity is obliged to implement the measure,

the duration, if it can be determined when the blocking measure is issued,

the justification of the need to impose the blocking measure,

instructions on the possibility to file an objection under paragraph 7.

(6)

If the entity that operates or on whose behalf the online interface is operated under paragraph 5 letter b) cannot be identified, the National Bank of Slovakia shall publish the blocking measure on its website for three days. The last day of the time limit is considered the day of delivery of the blocking measure.

(7)

The entity to which a blocking measure was imposed may file a written objection against the issued blocking measure with the National Bank of Slovakia within five working days of its delivery, which must be substantively justified. The scope in which the issued blocking measure is challenged by the objection and the grounds of the filed objection may be extended, changed or supplemented only until the expiry of the time limit set for filing the objection. A blocking measure against which a written objection with justification was not filed in time has the effects of a final decision against which no remedy may be filed. The filing of an objection has suspensive effect. An objection against a blocking measure shall be filed with the financial market supervision unit that issued the blocking measure. The provisions of § 30 and 31 apply to the procedure for handling and deciding on an objection against a blocking measure, unless otherwise provided in paragraph 8.

(8)

The Financial Market Supervision Unit may itself decide on an objection against a blocking measure issued by it within five working days from the day the objection was delivered to it, if it fully grants the objection; when deciding on the objection, it may supplement the evidence as necessary. If the Financial Market Supervision Unit does not decide on the objection under the first sentence, it shall submit the objection together with the file material and its opinion to the Bank Board within five working days from the day the objection was delivered to it. No remedy may be filed against the Bank Board's decision on the objection.

(9)

The issuance of a blocking measure is not considered the first act in proceedings for imposing a sanction. Národná banka Slovenska is not obliged to initiate proceedings for imposing a sanction after issuing a blocking measure, if the blocking measure fulfils the purpose for which it was issued.

(10)

A blocking measure shall cease

upon expiry of the period for which it was issued,

by revocation,

by setting the matter aside without initiating proceedings for imposing a remedial measure or another sanction for a breach of an obligation in the area of financial consumer protection,

upon the decision of Národná banka Slovenska imposing a remedial measure or another sanction for a breach of an obligation in the area of financial consumer protection becoming final.

(11)

Národná banka Slovenska shall revoke a blocking measure without delay if the reason for its issuance has ceased to exist. No remedy is admissible against a decision to revoke a blocking measure. Národná banka Slovenska may replace a blocking measure with a new blocking measure if the previous blocking measure is ineffective and it is necessary to replace it with another blocking measure under paragraph 2.

(12)

Národná banka Slovenska may request a provider of information society services 42ed ) to provide cooperation in the enforcement of a blocking measure, if the entity concerned has not fulfilled an obligation imposed by a final blocking measure. A provider of information society services is obliged to provide cooperation to Národná banka Slovenska without delay to the extent to which it is technically capable of ensuring compliance with the imposed obligation. A provider of information society services shall not be liable for damage caused by the enforcement of a blocking measure if it proceeded in accordance with the instructions of Národná banka Slovenska.

(13)

If a blocking measure has ceased for a reason other than in the manner under paragraph 10 letters b) and d), Národná banka Slovenska shall inform the obliged entity under paragraph 1 and the provider of information society services thereof without undue delay.

§ 35f

(1)

To a person who has violated the rights of a financial consumer or has breached obligations in the area of financial consumer protection under this Act or special regulations, 1 ) Národná banka Slovenska may

impose a fine of up to 1 000 000 euros, unless otherwise provided in paragraph 3,

impose a measure to eliminate and remedy the identified deficiencies,

prohibit the use of an unfair commercial practice or prohibit the use of an unacceptable condition under § 35e paragraph 1 letter b),

prohibit the provision of a financial service or prohibit the intermediation of a financial service to which the identified deficiency relates, until the deficiency is eliminated,

impose the obligation to publish a correction of incomplete, incorrect or untrue information,

impose the obligation to remove or change content published in an online interface,

impose the obligation to ensure the deletion of a domain,

withdraw, under the conditions laid down in § 35g paragraph 1, a licence or other granted authorisation to carry out activities in the area of the financial market or decide, under the conditions laid down in § 35g paragraph 1, on the cancellation of registration to carry out activities in the area of the financial market and on the deletion from the relevant register of persons authorised to carry out activities in the area of the financial market,

impose another sanction laid down by a special regulation 1 ) in the area of the financial market for the purpose of protecting financial consumers.

(2)

When deciding on the type of sanction and its imposition under paragraphs 1 and 3, Národná banka Slovenska shall take into account

the gravity, nature, manner, scope, duration and circumstances of the breach of obligation,

the supervised entity's interest in eliminating or mitigating the negative consequences of the breach of obligation in relation to financial consumers, which it demonstrably showed before the issuance of the decision on imposing a sanction,

previous final decisions on imposing a sanction on the supervised entity by Národná banka Slovenska,

the financial benefits that the supervised entity gained by breaching the obligation, or the financial losses that the supervised entity did not suffer as a result of the breach of obligation, if Národná banka Slovenska has this information available,

other aggravating and mitigating circumstances.

(3)

A person who has repeatedly violated the rights of a financial consumer or repeatedly violated obligations in the area of protection of financial consumers within a period of 12 consecutive months may be imposed by Národná banka Slovenska a fine of up to twice the amount of the fine under paragraph 1 letter a); this is without prejudice to the provisions of § 35g para. 1 .

(4)

Národná banka Slovenska is also, outside proceedings for imposing a sanction for deficiencies in the area of protection of financial consumers under this Act, entitled to impose on a supervised entity the obligation to submit special statements, reports and notifications and to discuss deficiencies in the activity of the supervised entity with persons authorised to act on behalf of the supervised entity, who are obliged to provide Národná banka Slovenska with the cooperation requested by it.

(5)

A sanction under paragraph 1 letter f) or letter g) may be imposed by Národná banka Slovenska in order to achieve the cessation or prohibition of harm to the collective interests of financial consumers or to prevent the risk of serious harm to the collective interests of financial consumers.

(6)

In the operative part of the decision imposing a sanction under paragraph 1 letter f) or letter g), Národná banka Slovenska shall determine the time limit within which the supervised entity is obliged to comply with the imposed obligation.

(7)

The supervisory authority may request a provider of information society services to provide cooperation in the enforcement of a decision imposing a sanction under paragraph 1 letter f) and g), if the supervised entity has failed to comply with an obligation imposed by a final decision. The provider of information society services is obliged to provide Národná banka Slovenska without delay with cooperation to the extent to which it is technically capable of ensuring compliance with the imposed obligation. The provider of information society services shall not be liable for damage caused by the enforcement of the decision if it proceeded in accordance with the instructions of Národná banka Slovenska.

(8)

If Národná banka Slovenska imposes a sanction under paragraph 1 letter g), it may request the top-level domain registration authority to ensure the registration of the deleted domain for Národná banka Slovenska. The top-level domain registration authority shall, in cooperation with Národná banka Slovenska, ensure the registration of the domain under the preceding sentence without delay after the deletion of the domain on the basis of a decision of Národná banka Slovenska. The costs associated with the registration of the domain shall be borne by Národná banka Slovenska.

§ 35fa

Imposition of sanctions in coordinated action

(1)

To a supervised entity that has violated the rights of a financial consumer or violated obligations in the area of protection of financial consumers under this Act or special regulations 1 ) to the extent of a widespread infringement 42ee ) or a widespread infringement with a Union dimension, 42ef ) Národná banka Slovenska may, in coordinated action 42eg )

impose a fine of up to 4 % of its turnover for the preceding accounting period,

impose other sanctions under § 35f para. 1 letter b) to i ), if their nature permits.

(2)

When deciding on the type of sanction and its imposition under paragraph 1, Národná banka Slovenska shall take into account

the gravity, nature, manner, scope, duration and circumstances of the breach of obligation,

previous final decisions on the imposition of a sanction on the supervised entity by Národná banka Slovenska,

financial benefits that the supervised entity gained by breaching the obligation, or financial losses that the supervised entity did not suffer as a result of the breach of obligation, if Národná banka Slovenska has such information available,

a sanction imposed by the competent foreign supervisory authority of a Member State for the same breach of obligation, if it concerns a breach of obligation to the extent of a widespread infringement with a Union dimension 42ef ) and information on such sanctions is available through the mechanism established under a special regulation, 42ec )

other aggravating and mitigating circumstances.

(3)

In the case of a repeated breach of the same obligation, for which Národná banka Slovenska has already imposed a fine on the supervised entity under paragraph 1 or under § 35f para. 1 letter a) , within 12 months from the date of finality of the previous decision on the imposition of a fine, Národná banka Slovenska may impose on the supervised entity a fine of up to 8 % of its turnover for the preceding accounting period.

(4)

Turnover under paragraphs 1 and 3 means the sum of all revenues, income or proceeds from the sale or provision of products excluding indirect taxes, to which financial assistance provided to the supervised entity is added. The turnover of the supervised entity in all Member States in which the breach of obligation by the supervised entity has caused, is causing or may cause harm to the collective interests of consumers shall be included in the turnover, if the turnover in other Member States can be determined. Turnover expressed in a foreign currency shall be converted into euros, whereby the average of the reference exchange rates determined and announced by the European Central Bank or Národná banka Slovenska, which are valid for the relevant accounting period, shall be used for the conversion of the foreign currency into euros.

(5)

For the purposes of this Act, the preceding accounting period means the accounting period for which the last ordinary financial statement was prepared.

(6)

For the purposes of this Act, financial assistance provided to the supervised entity means any monetary assistance provided from public funds that relates to the activity of the supervised entity and that is reflected in the price of the product.

(7)

If the supervised entity had no turnover for the preceding accounting period, the turnover of the supervised entity for the preceding accounting period cannot be determined, or if the turnover of the supervised entity for the preceding accounting period was lower than the lower limit of the fine rate under paragraphs 1 and 3, Národná banka Slovenska may impose on the supervised entity a fine

of up to 2 000 000 euros, if it concerns the imposition of a fine under paragraph 1,

up to 4 000 000 eur, if it concerns the imposition of a fine under paragraph 3.

§ 35g

(1)

Národná banka Slovenska is, for deficiencies in the area of financial consumer protection, competent to withdraw from a supervised entity the licence or other granted authorisation to carry out activities in the area of the financial market or to decide on the cancellation of registration to carry out activities in the area of the financial market and on the deletion from the relevant register of persons authorised to carry out activities in the area of the financial market, if the supervised entity breaches a measure under § 35d, breaches a decision under § 35e, breaches an obligation imposed by a court, this Act or a special regulation, 1 ) or an obligation under § 53a of the Civil Code to refrain from using an unfair condition, 42e ) breaches a condition or obligation laid down by a special regulation 1 ) as particularly serious or breaches an obligation in the area of financial consumer protection imposed by a preliminary measure or another decision of Národná banka Slovenska.

(2)

If the supervised entity has its registered office in another Member State, Národná banka Slovenska shall notify the facts referred to in paragraph 1 or the imposition of a sanction under § 35f to such supervised entity to the competent foreign supervisory authority over that supervised entity.

§ 35h

(1)

Sanctions under this Act and special regulations 1 ) for deficiencies in the area of financial consumer protection may be imposed separately or concurrently and, for a continuing deficiency, also repeatedly. Sanctions under this Act for deficiencies in the area of financial consumer protection may be imposed within three years of the discovery of the deficiency, but no later than within ten years of its occurrence. The limitation periods referred to in the second sentence are interrupted when a fact constituting an interruption of the period under § 19(4) occurs, and a new limitation period begins to run from each interruption of the limitation period. The deficiencies stated in the protocol on the on-site supervision carried out shall be considered discovered as of the date of the end of the relevant on-site supervision under § 10(5) and (6).

(2)

The imposition of sanctions under this Act for deficiencies in the area of financial consumer protection does not affect liability under special regulations. 42f )

(3)

If Národná banka Slovenska in one proceeding conducts and decides on the imposition of a sanction on one person for two or more deficiencies in the area of financial consumer protection under this Act or special regulations, 1 ) which were discovered over a period of at most twelve consecutive months, Národná banka Slovenska shall impose a cumulative fine for all sanctioned deficiencies under the provision that applies to the deficiency with the highest upper limit of the fine rate, including an increase of the rate under § 35f(3) or special regulations; 1 ) if for several deficiencies the highest upper limits of the fine rates are the same, including their increase under § 35f(3) or special regulations, 1 ) the cumulative fine shall be imposed under the provision that applies to one of them. If for the sanctioned deficiencies the lower limits of the fine rates are different, the lower limit of the cumulative fine rate shall be the highest of these rates, including its increase under § 35f(3) or special regulations. 1 ) When determining the amount of the cumulative fine, Národná banka Slovenska shall take into account the facts referred to in § 35f(2) in relation to all deficiencies that are sanctioned by the decision on the imposition of a sanction, and also the number of these deficiencies.

(4)

If Národná banka Slovenska decides on the imposition of a further fine for a deficiency in the area of financial consumer protection under this Act or special regulations, 1 ) which the supervised entity committed before another decision was issued by which Národná banka Slovenska already imposed on the supervised entity a fine for another deficiency in the area of financial consumer protection under this Act or special regulations, 1 ) the further fine being imposed, together with the fine imposed until then, must not exceed the highest permissible fine rate under the provision that applies to the concurrent deficiency with the highest upper limit of the fine rate, including its increase under § 35f(3) or special regulations; 1 ) this does not affect the repeated imposition of a fine for a continuing deficiency, nor does it affect the provisions of paragraphs 1, 2 and 5, § 35c(2) or special regulations. 1 )

(5)

Concurrently with a cumulative fine under paragraph 3 or with a further fine under paragraph 4, other types of sanctions under § 35f or under special regulations 1 ) may also be imposed, the imposition of which is possible for any of the sanctioned deficiencies.

(6)

When deciding on the imposition of a sanction under § 35f or under special regulations, 1 ) Národná banka Slovenska shall take into account a sanction imposed by an earlier final order on the imposition of a sanction under § 35c for another identical deficiency or a similar deficiency in the area of financial consumer protection, which the same supervised entity committed in the same period in an individual case.

(7)

A fine imposed for deficiencies in the area of financial consumer protection is payable within 30 days from the date of the finality of the decision on the imposition of the fine, including a fine imposed in summary proceedings. The proceeds from fines, including fines imposed in summary proceedings or in block proceedings, are revenue of the state budget.

§ 35j

(1)

A submission referred to in § 1(3)(c) may be made in writing in paper form or electronic form, namely via mail, electronic means or in person. A submission shall be assessed according to its content. The requirements for a submission referred to in § 1(3)(c) shall be governed mutatis mutandis by the provisions on the requirements for an application under § 16(1), whereby the submission contains in particular the identification of the submitter of the submission 27 ) (hereinafter referred to as the "submitter"), the identification of the matter to which it relates, the identification of the affected supervised entity, 27 ) a statement of what is being pursued or requested by the submission, a truthful description of the decisive facts and the signature of the submitter; the submission may contain the identification of other affected persons 27 ) even without their consent, if the submitter knows of them. Documents and other evidence that the submitter has at their disposal and that relate to the subject of the submission shall be attached to the submission.

(2)

If an application does not have the necessary requirements, the National Bank of Slovakia shall without delay call upon the submitter to supplement or correct the incorrect, incomplete or incomprehensible application and shall set a time limit for removing the deficiencies of the application, as a rule not longer than 30 working days. In this call, the National Bank of Slovakia shall instruct the submitter on how the correction or supplementation is to be made and also on the consequences of failure to comply with the call to remove the deficiencies of the application. If, despite the call, the submitter fails to remove the deficiencies of the application, and due to these deficiencies the application is unexaminable, the National Bank of Slovakia shall set aside the application in question on grounds of unexaminability. If, however, the National Bank of Slovakia is not materially competent to handle the application and another public authority is competent to handle it, the National Bank of Slovakia shall without delay forward the application to the competent public authority and shall notify the submitter thereof.

(3)

The application referred to in § 1 para. 3 letter c) must be handled in such a way that during its handling there is no unauthorised disclosure of classified information, personal data, banking secrecy, tax secrecy and other information classified or protected by an obligation of confidentiality expressly imposed or recognised under special regulations. 23 )

(4)

The National Bank of Slovakia shall handle the application under § 1 para. 3 letter c) by assessing the established factual state, legally evaluating it and stating violations of regulations in the area supervised by the National Bank of Slovakia by the supervised entity, if any occurred. Ongoing supervision over the supervised entity cannot be an obstacle to handling the application, in particular as regards the assessment of the factual state, its legal evaluation and the statement of violations of legal regulations in the area of financial consumer protection.

§ 35ja

The National Bank of Slovakia shall handle the application under § 1 para. 3 letter c) within a basic time limit of 90 calendar days (hereinafter referred to as the "basic time limit"), which runs from the delivery of the application or the removal of deficiencies of the application. The National Bank of Slovakia may extend the basic time limit due to serious obstacles preventing the handling of the application or for another important reason, if these occurred without the fault of the National Bank of Slovakia, by a further 30 calendar days, but by no more than 90 calendar days. The National Bank of Slovakia shall without delay inform the submitter of the application in writing about the extension of the time limit and the reasons for the extension.

§ 35k

For the performance of financial consumer protection, the provisions of this Act on supervision over supervised entities shall apply mutatis mutandis, unless otherwise provided in § 35a to 35ja.

PART SIX

OTHER ACTIVITIES AND POWERS IN THE PERFORMANCE OF SUPERVISION

§ 36

(1)

Within the framework of supervision over the financial market, the National Bank of Slovakia maintains up-to-date lists and registers (hereinafter referred to as the "list")

of supervised entities that have been granted authorisation under special regulations, 1 )

of administrators for the performance of forced administration and deputy administrators for the performance of forced administration over supervised entities under special laws, 28 )

of other persons, if so provided by a special regulation. 43a )

(2)

The lists under paragraph 1 contain the identification of persons in these lists at most to the extent of data laid down by a special law; 27 ) the lists of supervised entities contain, for individual supervised entities, also the scope of permitted activities under the granted authorisation or licence and also the conditions for the performance of permitted activities and restrictions on the scope or manner of performance of permitted activities that are determined by the granted authorisation or licence.

(3)

For the procedure of the National Bank of Slovakia in making an entry or registration (hereinafter referred to as "entry") under a special regulation, 43a ) in the case of a change of entry, refusal of an entry or change of entry and in the case of cancellation or deletion of an entry under a special regulation 43a ) in the lists under paragraphs 1 and 2, the provisions of § 12 to 34 shall apply mutatis mutandis, unless a special regulation provides otherwise. 43a )

(4)

The lists under paragraphs 1 and 2 are divided into a public part and a non-public part. The non-public part of the lists under paragraphs 1 and 2 consists of the birth surname, birth number, date of birth and place of birth of natural persons whose data form part of these lists. Data entered in the lists under paragraphs 1 and 2 are effective vis-à-vis third parties from the day of their disclosure to third parties or from the day of their publication, whichever occurred earlier. Data entered in the public part of the lists under paragraphs 1 and 2 shall be published without delay after entry, change of entry, cancellation of entry or deletion of entry on the website of the National Bank of Slovakia, while also being made available in electronic form in a manner enabling remote access via electronic communication. The National Bank of Slovakia shall also, during its designated office hours and at its premises, allow anyone, upon request, to inspect the public part of the list under paragraphs 1 and 2 and to make extracts from it at their own expense, and the National Bank of Slovakia shall, upon request and for reimbursement of material costs, prepare and send to anyone an extract of the public part of the list under paragraphs 1 and 2 designated by them, such extract containing the data entered in the public part of the list and current as at the date of issue of the extract. Data entered in the non-public part of the lists under paragraphs 1 and 2 may also be disclosed and provided for processing by the National Bank of Slovakia without the consent and information of the data subjects to the European Central Bank, 1ab ) participants in the European System of Financial Supervision, 1b ) other foreign supervisory authorities, the Social Insurance Agency 43b ) and other public authorities and persons 11 ) to the extent necessary for the performance of their statutory tasks, while the provisions of § 3 paras. 4 to 6 and 8 shall likewise apply to the disclosure and provision from the non-public part of the lists under paragraphs 1 and 2 and to the use, classification and protection of data disclosed or provided from the non-public part of the lists under paragraphs 1 and 2.

(5)

Within the framework of supervision over the financial market, in addition to the lists under paragraphs 1 to 4, the National Bank of Slovakia also maintains other up-to-date lists and registers under special regulations. 43c )

§ 36a

Národná banka Slovenska shall issue, for the purposes of mutual recognition under a special regulation 43d ), certificates of completion of a penetration test based on a specific threat.

§ 37

(1)

Národná banka Slovenska shall publish on its website or in its journal

financial stability reports; 3a ) these reports may, in addition to aggregate data, also contain the information listed in the lists under § 36 and the information referred to in paragraph 3,

the public parts of the lists kept by Národná banka Slovenska under § 36 , at least once a quarter,

the list and changes to the list of regulated markets drawn up by member states and published by the European Supervisory Authority (European Securities and Markets Authority), 44 )

the operative part of an enforceable decision or also the reasoning of a decision of Národná banka Slovenska or parts thereof, if they are intended for publication under this Act or a special regulation; 1 ) Národná banka Slovenska shall in the same manner also publish the operative parts and reasonings of final decisions of Národná banka Slovenska in matters of financial consumer protection, except for decisions on imposed block fines, and before the publication of such decisions, the data on financial consumers in them shall be anonymised,

decisions of the Bank Board on the determination of the annual contribution of supervised entities for the relevant calendar year,

evaluation reports on the effectiveness of the sanctioning rules applied under a special regulation, 44a )

other important announcements of Národná banka Slovenska.

(2)

Národná banka Slovenska shall also announce on its website or in its journal the place at which the following will be publicly accessible for inspection

approved listing prospectuses for securities, approved prospectuses for securities, approved investment prospectuses, approved takeover bids, 45 )

information on the management of securities dealers, the stock exchange and the central securities depository, 45 )

information on the management of issuers of securities admitted to the market of listed securities under a special act, 45 )

reports on the management of issuers of securities issued on the basis of a public offering, 45 )

reports on the management of a management company with its own assets and with assets in a fund, 46 )

general insurance terms and special insurance terms of insurance companies, 47 )

information on the management of insurance companies, 47 )

further information laid down by a special act.

(3)

Národná banka Slovenska may also publish

information from the financial statements and consolidated financial statements of supervised entities, further information on economic and financial indicators and the results of the activities of supervised entities and information on the structure and shareholders of supervised entities,

information on imposed sanctions and remedial measures,

information on supervised entities published by supervised entities,

methodological guidelines, opinions and recommendations relating to supervision over the financial market and explaining the application of this Act, special acts and other generally binding legal regulations relating to supervised entities or their activities,

other important announcements of Národná banka Slovenska concerning supervised entities or their activities, if they are intended for publication.

(4)

Národná banka Slovenska shall publish on its website in a separate and user-friendly part information concerning the receiving of reports of breaches, at least to the extent of

information on the specific means of communication designated for receiving and examining reports of breaches,

the contact details of a specialised employee for processing reports of breaches (hereinafter referred to as the "specialised employee"), including the indication of

the telephone number, stating whether the conversation is recorded or not recorded when this telephone line is used,

the specific means of communication under § 38b and postal addresses that are secure and guarantee the confidentiality of data,

the procedures for submitting reports of breaches, including the information that a report may also be submitted anonymously,

the data confidentiality regime applicable to reports of breaches,

procedures for the protection of persons working under an employment contract,

a declaration that reporting persons who make information available to Národná banka Slovenska in accordance with this Act and special regulations, 1 ) which relate to supervised entities, are not considered to be persons breaching restrictions on the disclosure of information imposed by contract or generally binding legal regulations and bear no liability associated with such notification.

(5)

A reporting person means a natural person who reports a breach or possible breach of special regulations. 1 )

(6)

A reported person means a supervised entity and a person to whom a special regulation applies, 47a ) about whom a reporting person has submitted a report of a breach, that this entity has committed or intends to commit a breach of special regulations 1 ) or special regulations that apply to supervised entities or their activities.

(7)

A report of a breach means a report of a breach of obligations of supervised entities concerning an actual or possible breach of special regulations 1 ) or special regulations that apply to supervised entities or their activities, submitted to Národná banka Slovenska by a reporting person.

(8)

The result of processing a submitted report of a breach means

a determination of whether the submitted report of a breach is, according to its content, a report of a breach under paragraph 7,

information on the further procedure for handling the submitted report of a breach under paragraph 7.

§ 38

Procedural measures

(1)

Národná banka Slovenska may impose a procedural fine on anyone who, without a serious reason, obstructs

the performance of on-site supervision or remote supervision, in particular by failing to provide Národná banka Slovenska or persons entrusted with the performance of supervision with the required documents, materials, information on technical media or other information, documents or things related to supervised entities, or other cooperation required for the purposes of performing on-site supervision or remote supervision,

the course of proceedings, in particular by failing, without a serious reason, to appear at a summons to Národná banka Slovenska, unjustifiably refusing to give witness testimony, providing incomplete or false testimony, failing to submit a written statement, failing to submit a document, failing to allow an inspection to be carried out, or failing to perform another act in the proceedings required in the summons or request of Národná banka Slovenska,

another procedure in the performance of supervision under this Act or special regulations 1 ) in the area of the financial market.

(2)

When deciding on the amount of a procedural fine, Národná banka Slovenska shall take into account in particular the seriousness and duration of the unlawful conduct, the scope of its consequences, any repeated breach of obligations or the breach of multiple obligations. A procedural fine may be imposed up to 5 000 eur, if it concerns a natural person, and up to 50 000 eur, if it concerns a legal person, and this even repeatedly.

(3)

The provisions of § 12 to 34 apply mutatis mutandis to proceedings for the imposition of a procedural fine. Proceedings for the imposition of a procedural fine may be initiated by delivery of the decision on the imposition of a procedural fine, whereby delivery of the decision to the sanctioned person is considered the first act in the proceedings against that person and by this delivery the information obligation of Národná banka Slovenska under § 16(2) is also fulfilled towards the relevant person. Proceedings for the imposition of a procedural fine may be initiated no later than two years from the day when Národná banka Slovenska discovered the breach of obligation, but no later than three years from the day when the breach of obligation for which the procedural fine is imposed occurred; these limitation periods are interrupted when a fact constituting an interruption of the period under § 19(4) occurs, whereby a new limitation period begins to run from each interruption of the limitation period.

(4)

A procedural fine is payable within 30 calendar days from the day when the decision on its imposition became final.

(5)

Proceeds from procedural fines are income of Národná banka Slovenska.

(6)

The imposition of a procedural fine does not affect liability under special regulations. If the act that constitutes obstruction of the performance of supervision under paragraph 1 is also a deficiency to which the imposition of a remedial measure, fine or other sanction under a special regulation applies, 25 ) a procedural fine under paragraphs 1 to 5 shall not be imposed for this deficiency if a remedial measure, fine or other sanction under a special regulation has been imposed for it. 25 )

Rules for receiving and reviewing reports of breaches

§ 38a

(1)

Národná banka Slovenska shall establish procedures to enable the reporting of reports of breaches, which shall regulate

the manner of submitting reports of breaches, including the possibility of submitting them anonymously,

the manner in which Národná banka Slovenska may request the reporting person to clarify the reported information or provide supplementary information available to the reporting person,

the type, content and time schedule of feedback concerning the result of the report of breaches that the reporting person may expect after reporting,

the data confidentiality and personal data protection regime, 47c ) which applies to reports of breaches, including a detailed description of the circumstances under which the confidential data of the reporting person may be disclosed under a special regulation 47b ) and informing the reporting person of exceptional circumstances in which confidentiality of data cannot be ensured, including circumstances where disclosure of data is a necessary and proportionate obligation required under special regulations in connection with an investigation, court proceedings or in the interest of protecting the freedoms of others, including the right of defence of the reported person, while applying protective measures under these special regulations.

(2)

Národná banka Slovenska shall designate one specialised employee or several specialised employees. The specialised employee shall undergo professional training for the purposes of processing reports of breaches.

(3)

Specialized employee

provides all interested persons with information on the procedures for reporting breaches,

processes reports on breaches,

maintains contact with the reporting person, if that person has identified themselves.

§ 38b

(1)

Národná banka Slovenska shall designate for the receipt and examination of reports on breaches special means of communication that are independent, autonomous, secure and guarantee the confidentiality of the data transmitted through them.

(2)

Special means of communication shall be considered independent and autonomous if they meet the following conditions:

they are separate from the ordinary means of communication of Národná banka Slovenska, including those through which Národná banka Slovenska communicates internally and with third parties in its ordinary activities,

they are designed, established and operated in a manner that ensures the completeness, integrity and confidentiality of information and prevents access by unauthorized employees of Národná banka Slovenska,

they enable the storage of information pursuant to § 38c and its further use for the performance of supervision.

(3)

The special means of communication must enable the reporting of actual breaches of obligations or possible breaches of obligations of supervised entities at least in the following ways:

by a written report on a breach in electronic form or in documentary form,

by an oral report on a breach via telephone lines, whether recorded or unrecorded,

by a personal meeting with a specialized employee.

(4)

Národná banka Slovenska shall provide the information pursuant to § 37 par. 4 to the reporting person before receiving the report on breaches or no later than at the time of its receipt.

(5)

Národná banka Slovenska shall ensure that a report on a breach received otherwise than through the special means of communication is sent without delay and without change through the special means of communication to the specialized employee.

§ 38c

(1)

Národná banka Slovenska shall ensure the storage of records 47d ) on received reports on breaches.

(2)

Národná banka Slovenska shall without delay confirm the receipt of a written report on a breach to the postal address or electronic address provided by the reporting person; this shall not apply if the reporting person has expressly requested a different procedure or if Národná banka Slovenska reasonably considers that confirming the receipt of a written report would jeopardize the protection of the identity of the reporting person.

(3)

If a recorded telephone line is used for reporting breaches, Národná banka Slovenska is authorized to document the orally submitted report on a breach in the form of

an audio recording of the conversation in a durable and retrievable format or

a complete and accurate transcript of the conversation prepared by specialized employees; if the reporting person has revealed their identity, Národná banka Slovenska shall offer the reporting person the opportunity to check and correct the transcript of the conversation and confirm it with their signature.

(4)

If an unrecorded telephone line is used for reporting breaches, Národná banka Slovenska is authorized to document the orally submitted report on a breach in the form of an accurate record of the conversation prepared by a specialized employee. If the reporting person has revealed their identity, Národná banka Slovenska shall offer the reporting person the opportunity to check and correct the record of the conversation and confirm it with their signature.

(5)

If the reporting person requests a personal meeting with a specialized employee in order to report a breach in the manner pursuant to § 38b par. 3 letter c) , Národná banka Slovenska shall ensure that complete and accurate records of the meeting are kept in a durable and retrievable format. Národná banka Slovenska is authorized to document the records of the personal meeting in the form of

an audio recording of the conversation in a durable and retrievable format or

a complete record of the meeting prepared by a specialized employee; if the reporting person has revealed their identity, Národná banka Slovenska shall offer the reporting person the opportunity to check and correct the record of the meeting and confirm it with their signature.

(6)

Národná banka Slovenska shall store the records pursuant to paragraphs 1 to 5 through a confidential and secure system that guarantees that the data stored therein are accessible only to employees of Národná banka Slovenska for whom access to such data is necessary for the performance of their official duties.

(7)

Národná banka Slovenska shall establish appropriate security procedures for the transfer of personal data of the reporting person and the reported person within Národná banka Slovenska and outside it, so as to ensure the anonymization of personal data 47e ) contained in the report on a breach, if such transfer does not correspond to the confidentiality regime of data pursuant to § 38a par. 1 letter d) .

§ 38d

(1)

A supervised entity must not apply any sanctions against its employee who has reported a report on breaches to Národná banka Slovenska for reporting the report on breaches, nor otherwise violate the principle of equal treatment in relation to such employee.

(2)

Národná banka Slovenska, the competent state administration authorities and other legal persons pursuant to special regulations 47f ) shall provide each other with cooperation and exchange information for the purposes of protecting reporting persons against sanctions for reporting a report on breaches by the employer and against violations of the principle of equal treatment in relation to such employee.

(3)

Národná banka Slovenska shall ensure, in cooperation with the relevant state administration bodies and other legal entities under special regulations, 47f ) that the reporting person has access to comprehensive information and advice on remedies and procedures in accordance with the provisions of legal regulations in order to protect them from unfair treatment, including procedures for submitting a claim for damages.

(4)

Národná banka Slovenska shall offer the reporting person assistance or advice in proceedings before the authorities involved in their protection against unfair treatment, including in confirming the status of the reporting person as a whistleblower in employment disputes.

§ 38e

If the identity of the reported persons is not publicly known, Národná banka Slovenska shall protect their identity in the same manner as for persons over whom Národná banka Slovenska exercises supervision. The provisions of § 38c para. 6 shall be used to protect the identity of the reported persons.

§ 38f

Národná banka Slovenska shall regularly, but at least once every two years, review its procedures for receiving and verifying reports of breaches. In this review, Národná banka Slovenska shall take into account its own experience as well as the experience of other competent authorities and shall adapt its procedures accordingly and in line with market and technological developments.

§ 38g

Intervention measures

(1)

Národná banka Slovenska may, under the circumstances and conditions defined in special regulations 47g ), decide in accordance with this Act and a special regulation 47h ) on the issuance of an intervention measure or on the issuance of a temporary emergency intervention measure, 47i ) whose

purpose is to prohibit or restrict the placing on the market, distribution or sale of

insurance-based investment products,

financial instruments,

structured deposits,

insurance-based investment products with certain specific features,

financial instruments with certain specific features, or

structured deposits with certain specific features,

purpose is to prohibit or restrict a certain financial activity or practice of a supervised entity or another person under special regulations, 47j )

objective 47j ) is to address a serious concern, threat or risks relating to investor protection or the proper functioning and integrity of financial markets, or the stability of the financial system, or a part thereof, in at least one Member State, which are related to a product, activity or practice under point (a) or point (b).

(2)

A decision on an intervention measure and a decision on a temporary emergency intervention measure shall contain

the definition of the product, activity or practice under paragraph 1 to which the prohibition or restriction under paragraph 1 point (a) or point (b) applies,

definition of the circumstances under which the prohibition or restriction under paragraph 1(a) or (b) applies, where the application of the issued prohibition or restriction is linked to certain circumstances, as well as definition of any exceptions to which the issued prohibition or restriction under paragraph 1(a) or (b) does not apply,

the date from which this decision becomes binding,

reasoning containing facts demonstrating the fulfilment of the conditions under special regulations 47g ) for issuing an intervention measure or a temporary urgent intervention measure,

if a temporary urgent intervention measure is issued, 47i ) also

the reasons on the basis of which the National Bank of Slovakia concluded that the procedure laid down by special regulations 47k ) for issuing an intervention measure would not properly address the concern or threat under special regulations, 47l )

the period for which it is issued; this period may not exceed three months from the publication of the relevant decision on a temporary urgent intervention measure under paragraph 3,

further facts under paragraph 8 or special regulations. 47j )

(3)

Decisions of the National Bank of Slovakia under paragraph 1 shall be published without delay in the Collection of Laws of the Slovak Republic 47m ) by publishing a notice of the National Bank of Slovakia on their issuance, whereby the content of the decision within the scope of paragraph 2(a) to (c) shall also form part of the notice, and at the same time the National Bank of Slovakia shall also publish the decisions on its website.

(4)

The National Bank of Slovakia shall decide on the revocation of a decision on an intervention measure or on the revocation of a decision on a temporary urgent intervention measure if the circumstances and conditions defined in special regulations, 47g ) which were the reason for issuing such intervention measure or temporary urgent intervention measure, cease to exist; the provisions of paragraphs 2, 3, 5 and 6 shall apply mutatis mutandis to such a revoking decision.

(5)

The provisions on proceedings in supervisory matters under this Act and special regulations, 25 ) as well as the general provisions on administrative proceedings, shall not apply to decisions on issuing an intervention measure and decisions on issuing a temporary urgent intervention measure. 21 )

(6)

A decision on an intervention measure and a decision on a temporary urgent intervention measure shall become binding, final and enforceable on the day of their publication in the Collection of Laws of the Slovak Republic, unless a later date is stated in such decision; no remedy may be filed against such decision and it is not subject to review by an administrative court. 49c ) Decisions on an intervention measure and decisions on a temporary urgent intervention measure are binding on all public authorities and on the persons concerned.

(7)

The National Bank of Slovakia is obliged, before issuing an intervention measure or a temporary urgent intervention measure, to consult the proposed intervention measure or temporary urgent intervention measure in accordance with special regulation 47k ) with the relevant authorities in other Member States which the proposed intervention measure or temporary urgent intervention measure could significantly affect; if the proposed intervention measure or temporary urgent intervention measure is issued in relation to a financial instrument, activity or procedure under special regulation, 47n ) which seriously endanger the proper functioning and integrity of physical agricultural markets, the National Bank of Slovakia is obliged to consult the proposed intervention measure or temporary urgent intervention measure also with the relevant public authorities responsible for the supervision of physical agricultural markets and for their management and regulation under special regulation. 47o )

(8)

Before issuing an intervention measure, the National Bank of Slovakia may publish its draft and set a deadline by which the public and persons affected by the intervention measure may submit comments in relation to the draft. When using the procedure under the first sentence, the National Bank of Slovakia is obliged to state in the reasoning of the issued intervention measure how it dealt with the comments submitted under the first sentence.

§ 38h

Powers in the area of structured retail investment products and insurance-based investment products

(1)

If the National Bank of Slovakia identifies deficiencies in the activities of a supervised entity or another person consisting in non-compliance with or circumvention of the rules which, under special regulation 47p ), apply to structured retail investment products or insurance-based investment products, or in non-compliance with or circumvention of an issued intervention measure or a temporary urgent intervention measure, the National Bank of Slovakia is competent to impose on the supervised entity or another person, according to the seriousness, extent, duration, consequences, nature of the identified deficiencies and other circumstances defined by special regulation 47r ), the following measures and sanctions:

a ban on the promotion of structured retail investment products and insurance-based investment products,

suspension of the promotion of structured retail investment products and insurance-based investment products,

a public warning stating the person responsible for the breach and the nature of the breach,

a ban on providing a key information document, 47s ) which does not meet the requirements laid down by special regulation, 47t ) and an order to publish a new version of the key information document,

a fine, namely:

in the case of a legal person, a fine of up to EUR 5 000 000 may be imposed, this upper limit of the fine rate being increased to an amount of 3 % of the total annual turnover of that legal person as shown in its last available annual financial statements, 49 ) or to an amount of twice the profits obtained as a result of the infringement penalised, or twice the losses avoided as a result of the infringement detected, where those profits or losses can be determined, the increased upper limit of the fine rate being the higher of those amounts; where the legal person is a parent undertaking or a subsidiary undertaking of a parent undertaking which is required to prepare consolidated financial statements pursuant to a special regulation, 47u ) the total annual turnover or the corresponding type of income as shown in the last available consolidated financial statements approved by the management body of the ultimate parent undertaking and prepared in accordance with the legally binding acts of the European Union in the area of accounting shall be used as the total annual turnover for the purposes of the upper limit of the fine rate,

in the case of a natural person, a fine of up to EUR 700 000 may be imposed, this upper limit of the fine rate being increased to an amount of twice the profits obtained as a result of the infringement penalised, or twice the losses avoided as a result of the infringement detected, where those profits or losses can be determined.

(2)

Sanctions under paragraph 1 may be imposed separately or concurrently and also repeatedly. Sanctions under paragraph 1 may be imposed within three years of the detection of the infringement, but no later than ten years from its occurrence. The limitation periods under the second sentence shall be interrupted when the fact giving rise to the interruption of the period under Section 19 (4) occurs, and a new limitation period shall start to run from each interruption of the limitation period. Infringements set out in the on-site inspection report shall be deemed to have been detected as from the day of the completion of the relevant on-site inspection under Section 10 (5) and (6).

(3)

The imposition of sanctions under paragraph 1 shall not affect liability under special regulations. 42f )

(4)

The proceedings and decision-making on the imposition of sanctions under paragraph 1 shall be governed by the provisions of Sections 12 to 34 and 38.

(5)

A fine imposed under paragraph 1 (e) shall be payable within 30 days of the date on which the decision imposing the fine becomes final. Revenue from fines shall form part of the state budget revenue.

Section 38i

Intervention measures in the area of the pan-European personal pension product

(1)

The National Bank of Slovakia may, subject to the conditions laid down in a special regulation 47v ), decide in accordance with this Act and a special regulation 47w ) to issue an intervention measure or to issue a temporary urgent intervention measure, the purpose of which is to

prohibit or restrict the making available on the market of the pan-European personal pension product,

prohibit or restrict the distribution of the pan-European personal pension product,

preventively impose a prohibition or restriction before the pan-European personal pension product is made available on the market or distributed to savers of the pan-European personal pension product.

(2)

Section 38g (2) to (8) shall apply to the issuing of an intervention measure or a temporary urgent intervention measure under paragraph 1, unless a special regulation 47z ) provides otherwise.

SEVENTH PART

CONTRIBUTIONS AND FEES RELATED TO SUPERVISION

Section 39

Among the revenue from the management of the National Bank of Slovakia pursuant to a special act 48 ) shall also be included the following established by this Act:

annual contributions of supervised entities (hereinafter referred to as "annual contributions"),

fees for acts or proceedings of the National Bank of Slovakia in the supervision of supervised entities (hereinafter referred to as "fees"),

surcharges on annual contributions for the purpose of covering the costs of the performance of financial consumer protection (hereinafter referred to as "special contributions").

§ 40

Ročné príspevky

(1)

The annual contributions are required to be paid to the National Bank of Slovakia by a supervised entity that has acquired a license or other authorization to perform activities in the financial market under a special regulation 1 ) (hereinafter referred to as "contributor"). The annual contributions are also required to be paid as a contributor by a supervised entity that has its registered office outside the territory of the Slovak Republic and that is authorized in the territory of the Slovak Republic through a branch or even without establishing a branch to create or manage funds under special regulations. 48a )

(2)

The annual contribution for the relevant calendar year is determined by the Bank Board in advance for the entire year no later than 20 December of the preceding year, for all contributors of the same type under the same conditions, in the same manner and within the rates for annual contributions of contributors established in paragraphs 3, 4 and 6. The National Bank of Slovakia may, for all contributors under the same conditions, determine that the annual contribution be proportionately reduced or not paid; the same applies to the waiver of an unpaid debt or an unpaid part of a debt from the annual contribution. If the basis for the rate of annual contributions is the contributor's assets, the decisive factor for calculating the annual contribution is the volume of the contributor's assets reported in its financial statements prepared in accordance with accounting rules and accounting standards 49 ) as at 31 December of the calendar year or as at the last day of the contributor's financial year, 49aa ) which immediately precedes the calendar year in which the Bank Board sets the annual contribution for the relevant calendar year, and audited by an auditor in accordance with the special act 49 ) (hereinafter referred to as "volume of assets"), unless this Act provides otherwise in Section 40. However, if the contributor manages the assets of other persons, which the contributor uses even partially to carry out activities subject to supervision over the contributor, the assets of other persons managed by the contributor shall also be included in the volume of assets of that contributor for the purposes of annual contributions; this shall not apply to a contributor under paragraph 1, second sentence, for whom, for the purposes of annual contributions, only the assets in the funds under special regulations 48a ) managed by the contributor in the territory of the Slovak Republic are considered to be the total volume of assets. Each contributor is obliged to notify the National Bank of Slovakia in writing, without delay after the end of its accounting period, of the total volume of assets that is decisive for calculating the amount of the contributor's annual contribution, 49ab ) unless this Act provides otherwise; at the request of the National Bank of Slovakia and within the period set by it, the contributor is obliged to submit and provide to the National Bank of Slovakia the requested information, financial statements and other documents, evidence and explanations for the purpose of verifying the correctness of the notified volume of assets as part of the exercise of supervision.

(3)

The rates of annual contributions for contributors that are legal persons or branches of foreign legal persons may be determined separately for individual types of contributors as supervised entities pursuant to special legislation, 1 ) and this for the rate for annual contributions, the basis of which is the contributor's assets, in the range from 0.001 per mille to 0.1 percent of the volume of the contributor's assets, unless the Act provides otherwise in Section 40; the total amount of the annual contribution shall, however, be at least EUR 1 000, unless the Act provides otherwise in Section 40. For the rate for annual contributions established as a fixed amount, the amount of the annual contribution determined for financial advisers and providers of special financial education that are legal persons may be at least EUR 50 and at most EUR 1 000; for providers of an approved disclosure mechanism (APA) and providers of an approved reporting mechanism (ARM) that are legal persons, it may be at least EUR 500 and at most EUR 10 000; for branches or other organisational units of foreign management companies and for foreign management companies that carry out activities other than the creation and management of funds in the territory of the Slovak Republic without establishing a branch pursuant to special legislation, 48a ) it may be at least EUR 500 and at most EUR 10 000; for branches of foreign investment companies and for foreign investment companies that carry out activities in the territory of the Slovak Republic without establishing a branch, it may be at least EUR 500 and at most EUR 10 000; for administrators of reference values, 49ac ) that are legal persons, it may be at most EUR 10 000; for stock exchanges, for institutions of electronic money authorised to issue electronic money only on a limited basis, 49a ) for payment service providers on a limited basis 49b ) and for payment account information service providers, 49b ) that are legal persons, it may be at most EUR 10 000 and for central securities depositories it may be at most EUR 10 000, unless the Act provides otherwise in Section 40. The National Bank of Slovakia may also determine, for contributors that are legal persons or branches of foreign legal persons, separately for individual types of contributors as supervised entities, the maximum absolute amount of the annual contribution within the range according to the first sentence.

(4)

The rates of annual contributions for contributors who are natural persons may be determined separately for individual types of contributors as supervised entities under special regulations, 1 ) namely at a rate for annual contributions set as a fixed amount ranging from 50 euros and at most 1 000 euros, unless the Act in Section 40 provides otherwise; the amount of the annual contribution for financial advisors and providers of special financial education who are natural persons may be at least 50 euros and at most 200 euros and for providers of an approved publication arrangement (APA), providers of an approved reporting mechanism (ARM), administrators of benchmarks and for providers of payment account information services who are natural persons, it may be at least 50 euros and at most 1 000 euros, unless the Act in Section 40 provides otherwise.

(5)

The base rate for the annual contribution of creditors authorized to provide consumer loans without limitation of scope 49ba ) determined according to paragraph 2 shall be proportionally reduced depending on the ratio of the volume of claims from consumer loans and the total volume of claims from loans provided by these contributors as of 31 December of the calendar year or as of the last day of their financial year, 49aa ) which immediately precedes the calendar year in which the Bank Board determines the annual contribution for the relevant calendar year. For the purposes of the procedure under the first sentence, the decisive volume of claims from provided consumer loans and the total volume of claims from provided loans resulting from reports submitted to the National Bank of Slovakia under Section 35 . The base rate for the annual contribution of credit administrators is the volume of claims that are the subject of credit administration under a special regulation 1aaaa ) as of 31 December of the calendar year. The volume of claims under the third sentence shall be determined from reports submitted to the National Bank of Slovakia under Section 35 . The rate of the annual contribution for credit administrators may be determined in the range from 0.001 per mille to 0.1 percent of the base rate for the annual contribution of credit administrators under the third sentence; however, the total amount of the annual contribution is at least 1 000 euros.

(6)

The base rate for annual contributions of independent financial agents shall be determined as the sum of the components of the base rate for each sector 49bb ) of the financial market in which the independent financial agent is authorized to perform financial intermediation 49bc ) according to the data recorded in the register of financial agents, financial advisors, financial intermediaries from another Member State in the insurance or reinsurance sector and financial intermediaries from another Member State in the area of providing housing loans, 49bd ) which is maintained by the National Bank of Slovakia. The component of the base rate for the relevant sector under the first sentence shall be determined as the difference between positive financial flows and negative financial flows in the accounting of the independent financial agent resulting from reports containing data on positive financial flows and negative financial flows of the independent financial agent reported as of 31 December of the calendar year, which each independent financial agent is obliged to submit to the National Bank of Slovakia upon its request or also under Section 35(2) . For the purposes of annual contributions of independent financial agents, positive financial flows under the second sentence shall be considered the volume of all financial commissions that the independent financial agent acquired for financial intermediation and that were paid to the independent financial agent during the calendar year immediately preceding the calendar year in which the Bank Board determines the annual contributions for the relevant calendar year, by financial institutions for which it performs financial intermediation. At the same time, for the purposes of annual contributions of independent financial agents, negative financial flows under the second sentence shall be considered the volume of all financial commissions returned to financial institutions that were written off from the account of the independent financial agent during the calendar year immediately preceding the calendar year in which the Bank Board determines the annual contributions for the relevant calendar year, to which the independent financial agent's entitlement expired or did not arise. Unless the Act in Section 40 provides otherwise, depending on the determined base rate for annual contributions of independent financial agents determined under the first to fourth sentences, the rate of the annual contribution of independent financial agents shall be determined as a fixed amount

for independent financial agents who are natural persons, in the range

from 100 euros to 500 euros, namely for independent financial agents whose base rate is negative, equals zero or reaches at most 100 000 euros,

from 200 euros to 1 000 euros, namely for independent financial agents whose base rate is greater than 100 000 euros and at most 500 000 euros,

from 500 euros to 2 000 euros, namely for independent financial agents whose base rate is greater than 500 000 euros and at most 1 000 000 euros,

from 1 000 euros to 3 000 euros, namely for independent financial agents whose base rate is greater than 1 000 000 euros and at most 5 000 000 euros,

from 2 000 euros to 5 000 euros, namely for independent financial agents whose base rate is greater than 5 000 000 euros and at most 10 000 000 euros,

from 4 000 euros to 8 000 euros, namely for independent financial agents whose base rate is greater than 10 000 000 euros and at most 20 000 000 euros,

from 5 000 euros to 10 000 euros, namely for independent financial agents whose base rate is greater than 20 000 000 euros and at most 35 000 000 euros,

from 8 000 euros to 15 000 euros, namely for independent financial agents whose base rate is greater than 35 000 000 euros,

for independent financial agents who are legal persons, in the range

from 100 euros to 1 000 euros, namely for independent financial agents whose base rate is negative, equals zero or reaches at most 100 000 euros,

from 500 euros to 2 000 euros, namely for independent financial agents whose base rate is greater than 100 000 euros and at most 500 000 euros,

from 1 000 eur to 4 000 eur, namely for independent financial agents whose base of the rate is greater than 500 000 eur and at most 1 000 000 eur,

from 2 000 eur to 6 000 eur, namely for independent financial agents whose base of the rate is greater than 1 000 000 eur and at most 5 000 000 eur,

from 5 000 eur to 10 000 eur, namely for independent financial agents whose base of the rate is greater than 5 000 000 eur and at most 10 000 000 eur,

from 7 500 eur to 15 000 eur, namely for independent financial agents whose base of the rate is greater than 10 000 000 eur and at most 20 000 000 eur,

from 10 000 eur to 20 000 eur, namely for independent financial agents whose base of the rate is greater than 20 000 000 eur and at most 35 000 000 eur,

from 15 000 eur to 25 000 eur, namely for independent financial agents whose base of the rate is greater than 35 000 000 eur.

(7)

The provisions on proceedings before the National Bank of Slovakia under this Act and special laws, nor the general regulations on administrative proceedings, shall not apply to the decision-making of the Bank Board on the determination of the annual contribution. 21 ) The decision of the National Bank of Slovakia on the determination of the annual contribution becomes final and enforceable on the day of its publication in the bulletin issued by the National Bank of Slovakia; 40 ) no remedy may be lodged against this decision and this decision is not subject to review by an administrative court. 49c )

(8)

The annual contribution shall be paid in four equal instalments, always by the 20th day of the first month of the calendar quarter. If the annual contribution does not exceed the amount of 300 eur, it shall be paid in one instalment by the 20th day of the first month of the calendar year. A paid instalment of the annual contribution for the period in which the contributor's licence or other authorisation was withdrawn or otherwise ceased, or his licence or other authorisation to carry out activities in the financial market under a special regulation was changed, 1 ) shall not be refunded; from the end of this period, the contributor whose licence or other authorisation to carry out activities in the financial market under a special regulation 1 ) has ceased shall also cease to be obliged to pay the annual contribution and the instalments of the annual contribution.

(9)

The contributor shall become obliged to pay the annual contribution from the first day of the sixth calendar month following the month in which the contributor acquired the licence or other authorisation to carry out activities under a special regulation. 25 ) If the base of the rate for annual contributions is the contributor's assets, the volume of assets determined under paragraph 2 and reported in the accounting 49 ) as at the last day of the fourth calendar month following the month in which the contributor acquired the licence or other authorisation to carry out activities under a special regulation shall be decisive for the calculation of the annual contribution; 25 ) the contributor is obliged to notify the National Bank of Slovakia in writing of the volume of these assets no later than by the 20th day of the fifth calendar month following the month in which the contributor acquired the licence or other authorisation to carry out activities under a special regulation. 25 ) If the base of the rate for annual contributions is the contributor's assets, the volume of assets determined and reported under the second sentence shall be decisive for the calculation of the annual contribution for the calendar year immediately following the calendar year in which the contributor became obliged to pay the annual contribution. A contributor who became obliged to pay the annual contribution during a calendar year is obliged to pay an instalment of the proportional part of the annual contribution for the first time by the 20th day of the calendar month in which this obligation arose; however, if the proportional part of the annual contribution does not exceed 300 eur or if the contributor became obliged to pay the annual contribution in a calendar month of the fourth quarter, the proportional part of the annual contribution shall be paid in one instalment by the 20th day of the calendar month in which the contributor became obliged to pay the annual contribution.

(10)

If the annual contribution or the instalments of the annual contribution were not paid properly and on time, the contributor is obliged to pay default interest at the rate under a special regulation 50 ) on the amount owed of the annual contribution for each day of delay. Default interest shall not be enforced if it does not exceed 5 eur. An instalment of the annual contribution, a part thereof or an overpayment of the contribution shall not be refunded if the amount to be refunded does not exceed 5 eur.

(11)

If the annual contribution, the instalments of the annual contributions or the default interest, or the instalments of the annual contribution were not paid properly and on time, the National Bank of Slovakia is entitled, on the basis of its records and even without notifying the contributor, to draw up a statement of the contributor's arrears on the unpaid amount of the principal and accessories of the annual contribution or the instalment of the annual contribution; this statement of the contributor's arrears is enforceable on the day of its drawing up by the National Bank of Slovakia even without being sent to the contributor. The National Bank of Slovakia is also entitled to file a motion for execution by a court executor under a special regulation, 51 ) whereby the enforcement title 51a ) and the basis for execution is the decision on the determination of the annual contribution and the statement of the contributor's arrears. The decision on the determination of the annual contribution shall not be provided with a clause or other confirmation of enforceability; however, the statement of the contributor's arrears shall be provided with a confirmation of enforceability, namely by a stamp imprint and by stating the date of enforceability on the copy of the statement of the contributor's arrears, as a rule in the upper left corner on the first page of this statement.

(12)

Annual contributions, instalments of annual contributions and default interest are income of the National Bank of Slovakia and shall be paid by transfer or deposit of funds to a designated account of the National Bank of Slovakia, in eur, unless a special law provides otherwise.

(13)

By a measure issued by Národná banka Slovenska after consultation with the ministry and promulgated in the Collection of Laws of the Slovak Republic, criteria may be laid down for determining annual contributions for individual types of supervised entities, details of the rates of annual contributions or ranges for determining annual contributions, and further details on annual contributions and their rounding and payment.

§ 40a

Osobitné príspevky

(1)

A supervised entity is obliged to pay a special contribution to Národná banka Slovenska for the relevant calendar year for each final decision of Národná banka Slovenska issued in proceedings conducted against the supervised entity for deficiencies in the area of financial consumer protection, by which it was decided that the supervised entity violated the right of a financial consumer or that it violated an obligation in the area of financial consumer protection, provided that this decision became final in the calendar year immediately preceding the calendar year for which the special contribution is paid. A decision on a preliminary measure, a decision issued in summary proceedings, nor a fine imposed in block proceedings shall be considered a decision under the first sentence.

(2)

The amount of the special contribution of a supervised entity shall equal 1 % of the annual contribution determined under § 40, for each final decision under paragraph 1, provided, however, that the amount of the special contribution of a supervised entity for each final decision under paragraph 1 shall be at least 1 000 euros, and if it concerns a supervised entity belonging among supervised entities that are contributors for which the amount of the annual contribution is determined by a fixed amount, the amount of the special contribution of the supervised entity for each final decision under paragraph 1 shall be at least 50 euros. The total maximum aggregate of special contributions of a supervised entity for one calendar year shall equal at most 5 % of the annual contribution of the supervised entity for the relevant calendar year determined under § 40, but at least 1 000 euros, if it concerns a supervised entity for which the amount of the annual contribution is not determined by a fixed amount, or 50 euros, if it concerns a supervised entity for which the amount of the annual contribution is determined by a fixed amount.

(3)

Special contributions shall be paid at the same time as the annual contribution; the provisions on annual contributions under § 40(8) and (10) to (12) shall likewise apply to special contributions.

Poplatky

§ 41

(1)

Fees shall be paid to Národná banka Slovenska if, under this Act or special regulations 1 ), acts or proceedings of Národná banka Slovenska in the supervision of supervised entities (hereinafter referred to as "acts") are carried out on the basis of

žiadosti o

the granting of a permit or licence,

the extension or other amendment of a granted permit or licence,

the granting of a consent or prior consent,

the amendment of a granted consent or prior consent,

the approval of an act, prospectus or other document,

an appeal against a first-instance decision on an application under point (a),

an application for the issuance of a duplicate of a permit, a duplicate of a licence, a duplicate of an approval, a duplicate of a consent, a duplicate of a prior consent or a duplicate of another decision of Národná banka Slovenska,

another application under this Act or a special regulation. 1 )

(2)

The fees for individual types of acts shall be set primarily depending on the scope, difficulty and complexity of the relevant types of acts. The fees shall be set as a fixed amount or as a percentage rate of the fee base. For fees set as a percentage rate, the fee base shall be rounded up to whole tens and the fees shall be rounded down to whole units.

(3)

By a measure issued by the National Bank of Slovakia after consultation with the ministry and promulgated in the Collection of Laws of the Slovak Republic, the amount or rates of fees for individual types of acts shall be set, and details concerning the fees and their calculation, rounding and payment may be set.

§ 42

(1)

The fee shall be payable by the person who filed the application or another submission referred to in § 41(1) (hereinafter referred to as the "fee submission") aimed at the performance of an act subject to a fee (hereinafter referred to as the "fee payer").

(2)

The obligation to pay the fee arises upon the filing of the fee submission aimed at the performance of an act subject to a fee. The fee payer shall be obliged to pay the fee no later than within five working days from the date of filing the fee submission. Each fee shall be paid separately. After paying the fee, the fee payer shall be obliged to submit to the National Bank of Slovakia without delay proof of payment of the fee, but no later than before the expiry of the time limit for deciding on the filed fee submission.

(3)

By a final decision of the National Bank of Slovakia to discontinue the proceedings due to non-payment of even part of the set fee, the obligation to pay the fee shall cease in its entirety.

(4)

The National Bank of Slovakia may, in justified cases which must be applied to each fee payer under the same conditions, reasonably reduce or waive fees. Unless the National Bank of Slovakia decides otherwise, a granted reduction or waiver of fees shall apply to the entire proceedings except for fees paid before the enforceability of the decision granting the reduction or waiver of the fee; fees paid before the enforceability of the decision granting the reduction or waiver of fees shall not be refunded. The National Bank of Slovakia may withdraw a granted reduction or waiver of fees at any time during the proceedings, possibly also with retroactive effect, if before the final conclusion of the proceedings it is established that the circumstances of the fee payer do not justify or did not justify the granting of the reduction or waiver of fees.

(5)

If the National Bank of Slovakia finds that the fee was paid by a person who was not obliged to pay it, that the fee paid does not contain the prescribed identification data necessary for identifying the purpose of the fee or its payer, that the fee payer paid a higher fee, or that the fee payer paid only part of the fee and the proceedings were legally discontinued due to non-payment of the remaining part of the fee, the National Bank of Slovakia shall return the fee paid or the relevant part thereof within 30 calendar days of finding that the fee or part thereof is to be returned.

(6)

The fee, part of the fee or overpayment of the fee shall not be refunded if the amount to be refunded does not exceed 5 euros.

(7)

Fees are revenue of the National Bank of Slovakia and are paid by transfer of monetary funds or deposit of monetary funds to the designated account of the National Bank of Slovakia, in euros, unless a special act provides otherwise.

ÔSMA ČASŤ

COMMON, TRANSITIONAL AND FINAL PROVISIONS

§ 43

(1)

The special act 52 ) shall apply to liability for damage caused by the National Bank of Slovakia in the exercise of public authority within the supervision of the financial market.

(2)

In the exercise of supervision entrusted to the National Bank of Slovakia by this Act or by special regulations 25 ), at its request, units of the Police Corps shall provide protection to employees of the National Bank of Slovakia, members of the Bank Board, invited persons and other persons in the cases specified by the special regulation. 52a )

(3)

The provision of § 17 (6) on the official record shall apply mutatis mutandis also to on-site supervision, remote supervision and the handling of submissions referred to in § 1 (3) (c), § 35j and 35ja; the provision of § 18 on the service of documents shall apply mutatis mutandis also to the service of documents during on-site supervision and remote supervision, in the procedure under § 35ea (1) and in the handling of submissions referred to in § 1 (3) (c), § 35j and 35ja; the provision of § 27 (6) on the correction of obvious errors shall apply mutatis mutandis also to the correction of obvious errors in other documents drawn up in the course of proceedings in supervisory matters and in documents drawn up during on-site supervision and remote supervision and in the handling of submissions referred to in § 1 (3) (c), § 35j and 35ja.

§ 44

This Act transposes the legally binding acts of the European Union listed in the annex.

§ 45

(1)

The Financial Market Authority 53) is abolished and the competence of this authority under generally binding legal enactments passes to the National Bank of Slovakia.

(2)

Permits, approvals, consents, prior consents and other decisions of the Financial Market Authority which were issued in proceedings before the Financial Market Authority under the provisions hitherto in force and which are valid as at 1 January 2006 shall be deemed to be permits, approvals, consents, prior consents and other decisions issued in proceedings before the National Bank of Slovakia under this Act and special Acts. The provisions of this Act shall apply to proceedings on the restriction or suspension of activities under such a permit and to the amendment, withdrawal or lapse of such a permit; this shall apply mutatis mutandis to the repeal or lapse of approvals, consents, prior consents and other decisions issued by the Financial Market Authority before 1 January 2006.

(3)

Proceedings conducted by the Financial Market Authority under the previous regulations and which were not finally concluded before 1 January 2006 shall be procedurally completed by the National Bank of Slovakia under this Act and special laws; proceedings initiated before 1 January 2006 on the initiative of the Financial Market Authority or the ministry shall be deemed, as of 1 January 2006, to be proceedings initiated on the initiative of the National Bank of Slovakia. The legal effects of acts which occurred in the proceedings before 1 January 2006 shall remain preserved. A final decision of the Financial Market Authority issued under the previous regulations and whose finality has not exceeded three years may be reviewed by the Bank Board on its own initiative or on another initiative under the conditions laid down in § 32(5); if the Bank Board annuls the decision under review, the National Bank of Slovakia shall have jurisdiction for new proceedings in the matter. As of 1 January 2006, the Bank Board shall have jurisdiction to decide on a protest by the prosecutor 41 ) against a decision of the Financial Market Authority. If, after 1 January 2006, the Supreme Court of the Slovak Republic annuls 42 ) a decision of the Financial Market Authority, the National Bank of Slovakia shall have jurisdiction for new proceedings in the matter. If, after 1 January 2006, a decision of the Financial Market Authority issued in proceedings under the previous regulations and special laws is annulled, new proceedings in the matter shall be procedurally conducted before the National Bank of Slovakia under this Act and special laws; 1 ) for a new decision in the matter, the factual and legal situation at the time of issuance of the annulled decision shall be decisive.

(4)

An on-site inspection carried out by the Financial Market Authority under the previous regulations and which was not completed before 1 January 2006 shall be completed by the National Bank of Slovakia in accordance with the procedure under this Act and special regulations. 1 ) The legal effects of acts which occurred during the on-site inspection before 1 January 2006 shall remain preserved.

(5)

As of 1 January 2006, the property which was owned by the Financial Market Authority until 1 January 2006 shall pass into the ownership of the National Bank of Slovakia; this shall also apply to the receivables and liabilities of the Financial Market Authority if these receivables and liabilities continue to exist after 1 January 2006; liability for damage caused by the Financial Market Authority before 1 January 2006 in the exercise of public authority within the supervision of the financial market shall be governed by a special law. 54 ) As of 1 January 2006, the rights and obligations arising from employment relationships and from other legal relationships shall also pass from the Financial Market Authority to the National Bank of Slovakia.

The Financial Market Authority shall be obliged to hand over to the National Bank of Slovakia a complete list, signed by the chairman and vice-chairman of the council, of the transferring property, receivables, liabilities and rights and obligations arising from employment relationships and from other legal relationships, including a list of employees.

As of 1 January 2006, the existing term of office of the members of the bodies of the Financial Market Authority shall expire.

(6)

Annual contributions for the year 2006, which the Banking Council determines for supervised entities by 20 January 2006 under the previous regulations, 55 ) shall be considered annual contributions for the year 2006 determined for supervised entities under this Act. The provisions of Section 40(2) to (4) and (7) second sentence shall be applied for the first time to the determination of annual contributions for supervised entities for the year 2007.

§ 45a

Transitional provision on amendments effective from 19 December 2006

Annual contributions for supervised entities for the year 2007 shall be determined by the Banking Council in accordance with the procedure under this Act by 20 January 2007. Annual contributions for the year 2007 that do not exceed the amount of 10 000 Sk, and the first instalment of the other annual contributions for the year 2007, shall be paid by supervised entities by 20 February 2007.

§ 45b

Transitional provisions on amendments effective from 1 December 2011

(1)

Proceedings initiated and not finally concluded before 1 December 2011 shall be procedurally completed under this Act and special laws. 25 ) The legal effects of acts that occurred in the proceedings before 1 December 2011 shall remain preserved.

(2)

An on-site supervision initiated and not concluded before 1 December 2011 shall be completed in accordance with the procedure under this Act and special laws. 20 ) The legal effects of acts that occurred during the on-site supervision before 1 December 2011 shall remain preserved.

(3)

If a contributor who, under a special law, 25 ) may, in addition to activities subject to supervision, also carry out commercial activities not subject to supervision, 49aa ) does not keep and does not report in its accounting and financial statements separately analytical records of assets broken down in accordance with Section 40(2) fourth sentence, the total volume of its assets shall be decisive for the calculation of the amount of the annual contribution for the year 2012 for such contributor under the provisions of Section 40; however, the total amount of the annual contribution for the year 2012 for a contributor that is an electronic money institution, a branch of a foreign electronic money institution, a payment institution or a branch of a foreign payment institution shall be at least 1 000 euros and at most 10 000 euros.

§ 45c

Transitional provisions on amendments effective from 10 June 2013

(1)

Proceedings initiated and not finally concluded before 10 June 2013 shall be completed under this Act and special laws, 25 ) whereby for time limits that had not yet expired on the day this Act enters into force, the provisions of this Act and special laws shall apply. 25 ) The legal effects of acts that occurred in the proceedings before 10 June 2013 shall remain preserved.

(2)

An on-site supervision initiated and not concluded before 10 June 2013 shall be completed in accordance with the procedure under this Act and special laws. 20 ) The legal effects of acts that occurred during the on-site supervision before 10 June 2013 shall remain preserved.

§ 45d

Transitional provisions on amendments effective from 1 January 2015

(1)

Legal relationships governed by this Act that arose before 1 January 2015 shall also be governed by the provisions of this Act, unless otherwise provided in paragraphs 2 to 4; however, the origin of these legal relationships, as well as the legal effects of acts that occurred before 1 January 2015, shall be assessed under the regulations effective until 31 December 2014.

(2)

The legal effects of acts that occurred before 1 January 2015 in the assessment of unfair commercial practices of supervised entities or unacceptable conditions in contracts for the provision of financial services within the scope of the Slovak Trade Inspection shall remain preserved.

(3)

Proceedings initiated and not finally concluded by the Slovak Trade Inspection concerning the provision of financial services before 1 January 2015 shall be completed under the regulations effective until 31 December 2014. The legal effects of acts that occurred in the proceedings before 1 January 2015 shall remain preserved.

(4)

An on-site inspection carried out that was initiated and not concluded by the Slovak Trade Inspection in the area of provision of financial services before 1 January 2015 shall be completed in accordance with the procedure under the regulations effective until 31 December 2014. The legal effects of acts that occurred during this on-site inspection before 1 January 2015 shall remain preserved.

§ 45e

Transitional provisions on amendments effective from 1 November 2017

(1)

From 1 November 2017, legal relationships governed by this Act that arose before 1 November 2017 shall also be governed by the provisions of this Act; however, the origin of these legal relationships, as well as claims arising from them before 1 November 2017, shall be assessed under this Act in the wording effective until 31 October 2017, whereby time limits that had not yet expired before 1 November 2017 shall be subject to the provisions of this Act in the wording effective from 1 November 2017 and the provisions of special regulations. 1 )

(2)

Proceedings initiated and not finally concluded before 1 November 2017 shall be completed under this Act and a special regulation; 1 ) the legal effects of acts that occurred in the proceedings before 1 November 2017 shall remain preserved.

(3)

An on-site supervision initiated and not concluded before 1 November 2017 shall be completed in accordance with the procedure under this Act and a special regulation; 1 ) the legal effects of acts that occurred during the on-site supervision before 1 November 2017 shall remain preserved.

§ 45f

Transitional provisions on amendments effective from 15 December 2017

(1)

From 15 December 2017, legal relationships governed by this Act that arose before 15 December 2017 shall also be governed by the provisions of this Act; however, the origin of these legal relationships, as well as claims arising from them before 15 December 2017, shall be assessed under this Act in the wording effective until 14 December 2017, whereby time limits that had not yet expired before 15 December 2017 shall be subject to the provisions of this Act in the wording effective from 15 December 2017 and the provisions of special regulations. 1 )

(2)

Proceedings initiated and not finally concluded before 15 December 2017 shall be completed under this Act and special regulations; 1 ) the legal effects of acts that occurred in the proceedings before 15 December 2017 shall remain preserved.

(3)

An on-site supervision initiated and not concluded before 15 December 2017 shall be completed in accordance with the procedure under this Act and special regulations; 1 ) the legal effects of acts that occurred during the on-site supervision before 15 December 2017 shall remain preserved.

(4)

Národná banka Slovenska is obliged to publish, pursuant to § 37(1)(d) of this Act, also decisions in matters of financial consumer protection that were issued before 15 December 2017, within the period until 31 March 2018.

§ 45g

Transitional provisions for the amendments effective from 1 November 2018

(1)

The provisions of this Act, as effective from 1 November 2018, shall also govern legal relationships regulated by this Act that arose before 1 November 2018, including legal relationships related to decisions issued before 1 November 2018; however, the origin of these legal relationships, as well as claims arising from them before 1 November 2018, shall be assessed under this Act as effective until 31 October 2018, while periods that had not yet expired before 1 November 2018 shall be governed by the provisions of this Act as effective from 1 November 2018 and the provisions of special regulations. 1 )

(2)

Proceedings commenced and not finally concluded before 1 November 2018 shall be completed under this Act as effective from 1 November 2018 and special regulations; 1 ) the legal effects of acts that occurred in the proceedings before 1 November 2018 shall remain preserved.

(3)

An on-site supervision commenced and not concluded before 1 November 2018 shall be completed by the procedure under this Act as effective from 1 November 2018 and special regulations; 1 ) the legal effects of acts that occurred during the on-site supervision before 1 November 2018 shall remain preserved.

§ 45h

Transitional provisions for the amendments effective from 1 January 2019

(1)

The provisions of this Act as effective from 1 January 2019 shall also govern legal relationships regulated by this Act that arose before 1 January 2019; the origin of these legal relationships, as well as claims arising from them before 1 January 2019, shall be assessed under this Act as effective until 31 December 2018.

(2)

Proceedings commenced and not finally concluded before 1 January 2019 shall be completed under special regulations 1 ) and this Act as effective from 1 January 2019; the legal effects of acts that occurred in the proceedings before 1 January 2019 shall remain preserved.

(3)

An on-site supervision commenced and not concluded before 1 January 2019 shall be completed by the procedure under special regulations 1 ) and this Act as effective from 1 January 2019; the legal effects of acts that occurred during the on-site supervision before 1 January 2019 shall remain preserved.

§ 45i

Transitional provisions for the amendments effective from 1 July 2024

(1)

The provisions of this Act as effective from 1 July 2024 shall also govern legal relationships regulated by this Act that arose before 1 July 2024; the origin of these legal relationships, as well as claims arising from them before 1 July 2024, shall be assessed under this Act as effective until 30 June 2024.

(2)

Proceedings commenced and not finally concluded before 1 July 2024 shall be completed under special regulations 1 ) and this Act as effective from 1 July 2024; the legal effects of acts that occurred in the proceedings before 1 July 2024 shall remain preserved.

(3)

An on-site supervision commenced and not concluded before 1 July 2024 shall be completed by the procedure under special regulations 1 ) and this Act as effective from 1 July 2024; the legal effects of acts that occurred during the performance of on-site supervision before 1 July 2024 shall remain preserved.

(4)

The voluntary measure under Section 35aa may also be applied to a breach of an obligation in the area of financial consumer protection that occurred before 1 July 2024, except for breaches identified in an on-site supervision completed before 1 July 2024.

§ 45j

Transitional provisions for the amendments effective from 17 January 2025

(1)

Legal relationships governed by this Act that arose before 17 January 2025 shall also be governed by the provisions of this Act as effective from 17 January 2025; the origin of these legal relationships, as well as claims arising from them before 17 January 2025, shall be assessed under this Act as effective until 16 January 2025.

(2)

Proceedings commenced and not finally concluded before 17 January 2025 shall be completed under special regulations 1 ) and this Act as effective from 17 January 2025; the legal effects of acts that occurred in the proceedings before 17 January 2025 shall remain preserved.

(3)

On-site supervision commenced and not completed before 17 January 2025 shall be completed in accordance with special regulations 1 ) and this Act as effective from 17 January 2025; the legal effects of acts that occurred during the on-site supervision before 17 January 2025 shall remain preserved.

§ 46

Zrušovacie ustanovenie

Zrušujú sa:

Art. I of Act No. 96/2002 Coll. on supervision of the financial market and on the amendment and supplementation of certain acts, as amended by Art. II of Act No. 43/2004 Coll., Art. III of Act No. 439/2004 Coll., Art. IV of Act No. 650/2004 Coll., Art. IV of Act No. 340/2005 Coll. and Art. II of Act No. 519/2005 Coll.,

Decree of the Ministry of Finance of the Slovak Republic No. 170/2002 Coll. on the amount of fees for acts of the Financial Market Authority, as amended by Decree No. 517/2002 Coll., Decree No. 623/2002 Coll., Decree No. 359/2003 Coll., Decree No. 162/2004 Coll. and Decree of the Ministry of Finance of the Slovak Republic No. 413/2005 Coll.

Čl. II

Act No. 483/2001 Coll. on banks and on the amendment and supplementation of certain acts, as amended by Act No. 430/2002 Coll., Act No. 510/2002 Coll., Act No. 165/2003 Coll., Act No. 603/2003 Coll., Act No. 215/2004 Coll. and Act No. 554/2004 Coll., is amended and supplemented as follows:

V § 2 odsek 4 znie:

„(4)

If a special permit under a special regulation 6 ) is also required for the performance of certain activities referred to in paragraph 2, the proceedings on the application for the granting of a banking licence to perform such an activity shall be joined with the proceedings on the application for the granting of a special permit under a special regulation; 6 ) this shall not apply to a foreign bank to which Sections 11 to 20 apply.“.

In Section 6(3), above the word “predpisu”, reference 15 is replaced by reference 6 and the footnote to reference 15 is deleted.

In Section 6(12), the words “with the authorities supervising financial institutions and insurance companies in the Slovak Republic,” are deleted.

In Section 7(1), the word “dohode” is replaced by the word “prerokovaní”.

In Section 44(3), after the words “consolidated basis”, the words “under this Act” are inserted, and in the fifth and last lines, reference 15 above the words “special regulation” is deleted.

In § 45 par. 2, the words “Úradu pre finančný trh 15 ) (ďalej len „úrad“),“ are deleted.

In § 46 par. 5, the second sentence is deleted.

In § 49c to 49o, the words “úrad a”, the words “úradom a s”, the words “úrad alebo” and the words “úradom alebo s” are deleted in all grammatical forms.

In § 51a par. 3, the words “na základe oznámenia úradu o porušení ustanovení osobitného predpisu 45b ) alebo” are deleted.

10.

In § 51a par. 4, the words “úradom alebo” and the words “úradu alebo” are deleted.

11.

In § 79 par. 2, after the word “Slovenska” the comma is replaced by a period and the remainder of the sentence is deleted.

12.

In § 81 par. 1 first sentence, after the word “Slovenska” the comma is replaced by a period and the remainder of the sentence is deleted.

13.

In § 82 par. 1, the words “a dohľadu vykonávanému orgánom dohľadu” are replaced by the words “podľa tohto zákona a”.

14.

In § 82 par. 3, the words “orgán dohľadu 15 )” are replaced by the words “Národná banka Slovenska”.

15.

In § 91 par. 4, letter j) is deleted.

The existing letters k) to n) are designated as letters j) to m).

16.

§ 94 reads:

“§ 94

(1)

Proceedings and decision-making in matters entrusted to Národná banka Slovenska by this Act shall be governed by a special Act, 89 ) unless this Act provides otherwise.

(2)

Národná banka Slovenska shall decide at first instance on an application for the granting of prior consent under § 30 par. 3 within nine months of the delivery of a complete application, and on an application for the granting of consent under § 9 par. 4 it shall decide within 30 days of the delivery of a complete application.”.

The footnote to reference 89 reads:

“89)

Act No. 747/2004 Coll. on supervision over the financial market and on the amendment and supplementation of certain acts.”.

17.

§ 95 to 114 are deleted, including the footnotes to references 90 and 91.

18.

After § 122c, § 122d is inserted, which, including the heading, reads:

“§ 122d

Transitional provisions on the amendments effective from 1 January 2006

(1)

Proceedings commenced and not finally concluded before 1 January 2006 shall be procedurally completed under this Act and a special Act. 89 ) The legal effects of acts that occurred in the proceedings before 1 January 2006 shall remain preserved.

(2)

An on-site supervision commenced and not concluded before 1 January 2006 shall be completed under this Act and special acts. 89 ) The legal effects of acts that occurred during the on-site supervision before 1 January 2006 shall remain preserved.”.

Art. III

Act of the National Council of the Slovak Republic No. 566/1992 Coll. on Národná banka Slovenska, as amended by Act of the National Council of the Slovak Republic No. 26/1993 Coll., Act of the National Council of the Slovak Republic No. 159/1993 Coll., Act of the National Council of the Slovak Republic No. 249/1994 Coll., Act of the National Council of the Slovak Republic No. 374/1994 Coll., Act of the National Council of the Slovak Republic No. 202/1995 Coll., Act of the National Council of the Slovak Republic No. 118/1996 Coll., Act of the National Council of the Slovak Republic No. 386/1996 Coll., Act No. 348/1999 Coll., Act No. 149/2001 Coll. and Act No. 602/2003 Coll. is amended and supplemented as follows:

In the footnote to reference 1, at the end, the period is replaced by a comma and the following citation is added: “Act No. 747/2004 Coll. on supervision over the financial market and on the amendment and supplementation of certain acts.”.

In § 2 par. 1, letter d) reads:

“d)

performs supervision under this Act and under special acts 1 ) and contributes to the stability of the financial system as a whole,”.

In § 6 par. 2, letter j) is added, which reads:

“j)

approves generally binding legal regulations issued by Národná banka Slovenska on the basis of this Act or special regulations. 1 )”.

The footnote to reference 2i reads:

“2i)

§ 12 to 34 of Act No. 747/2004 Coll.”.

In § 7 para. 1, after the word “is”, the words “for labour-law purposes” are inserted, and at the end the period is replaced by a comma and the following words are added: “for which work leave is granted.”.

In § 7 para. 5, the following sentence is added at the end: “A member of the Bank Board must not, in the performance of his or her function, give preference to a personal interest over the public interest 2aa ) and must, in the performance of his or her function, refrain from anything that may be contrary to the performance of the function of a member of the Bank Board.”.

The footnote to reference 2aa reads:

“2aa)

Constitutional Act No. 357/2004 Coll. on the protection of the public interest in the performance of the functions of public officials.”.

In § 8 para. 1, fifth sentence, the part of the sentence before the semicolon is replaced by the following words: “If the Bank Board decides in a matter in which a member of the Bank Board is excluded from the proceedings under a special law 2ca ), or if the Bank Board decides under a special law 2ca ) on an objection of bias submitted against a member of the Bank Board, that member of the Bank Board is excluded from the relevant vote of the Bank Board and does not participate in it;”.

The footnote to reference 2ca reads:

“2ca)

§ 7, 14, 31 and 32 of Act No. 747/2004 Coll. on the supervision of the financial market and on the amendment and supplementation of certain acts.”.

In § 12 paragraph 1, after the word "cieľa" the words "a úloh podľa § 2" are inserted.

In § 30 paragraph 2, the words "devízového hospodárstva a" are replaced by the words "devízových vzťahov, platobného styku a finančného trhu vrátane".

10.

In § 34a paragraph 1, the words "obsah, formu, členenie, termíny a spôsob predkladania" are replaced by the words "štruktúru, rozsah, obsah, formu, členenie, termíny, spôsob, postup a miesto predkladania vrátane metodiky na ich vypracúvanie".

11.

In the footnote to reference 6, the full stop at the end is replaced by a comma and the following citation is appended: "zákon č. 747/2004 Z. z.".

12.

§ 36 paragraphs 4 to 7 are repealed, including the footnotes to references 7, 7a and 7b.

13.

§ 37 and 37a are repealed, including the footnote to reference 7c.

14.

In § 41 the words "výkon bankového dohľadu" are replaced by the words "dohľadu vykonávaného Národnou bankou Slovenska" and after the word "orgánmi" the word "bankového" is deleted.

15.

In the footnote to reference 12 the words "a § 94 až 114" are deleted and at the end the following citation is appended: "§ 12 až 34 zákona č. 747/2004 Z. z.".

Article IV

Act No. 566/2001 Coll. on securities and investment services and on the amendment and supplementation of certain acts (the Securities Act), as amended by Act No. 291/2002 Coll., Act No. 510/2002 Coll., Act No. 162/2003 Coll., Act No. 594/2003 Coll., Act No. 43/2004 Coll. and Act No. 635/2004 Coll., is amended and supplemented as follows:

In § 8 letter b) point 2 the words "Úrad pre finančný trh 20 ) (ďalej len „úrad") v konaní" are replaced by the words "Národná banka Slovenska v konaní 20 )" and throughout the text of the Act the legislative abbreviation "úrad" in all its forms is replaced by the words "Národná banka Slovenska" in the appropriate grammatical form.

The footnote to reference 20 reads:

“20)

Act No. 747/2004 Coll. on the supervision of the financial market and on the amendment and supplementation of certain acts.”.

In § 55 paragraph 8, letter h) is deleted.

In § 55 paragraph 8, § 56 paragraph 10, § 61 paragraph 11, § 70 paragraph 5, § 73 paragraph 8, § 74 paragraph 5, § 77 paragraph 7, § 100 paragraph 13, § 102 paragraph 5, § 114 paragraph 18, § 131a paragraph 5, § 132 paragraph 6, § 141 paragraph 3, § 143g paragraphs 2 and 9, § 143h paragraph 5 and § 143o paragraph 1 the words "ministerstvo" and "Ministerstvo" are replaced by the words "Národná banka Slovenska".

In § 56 paragraph 4 letter g) the words "a vyjadrenie Národnej banky Slovenska k tejto žiadosti" are deleted.

In § 56 paragraph 5 the words "po dohode s Národnou bankou Slovenska" are deleted.

In § 90 paragraph 8 the word "úradom," is deleted.

In § 93 paragraph 3 the first and second sentences read: "Two members of the fund's board are representatives of the ministry, who are appointed and dismissed by the Minister of Finance from among the employees of the ministry. Three members of the fund's board are representatives of the National Bank of Slovakia, who are appointed and dismissed by the Governor of the National Bank of Slovakia.”.

In § 95 paragraph 2 the second sentence reads: "Two members of the fund's supervisory board are representatives of the ministry, who are appointed and dismissed by the Minister of Finance from among the employees of the ministry. Two members of the fund's supervisory board are representatives of the National Bank of Slovakia, who are appointed and dismissed by the Governor of the National Bank of Slovakia.”.

In § 110 paragraph 1 letter d) the words "bankového dohľadu alebo devízovej kontroly, 93 )" are replaced by the words "ňou vykonávaného dohľadu, 93 )".

The footnote to reference 93 reads:

“93)

Act of the National Council of the Slovak Republic No. 566/1992 Coll., as amended by later regulations. Act No. 747/2004 Coll. Act No. 483/2001 Coll., as amended by later regulations. Act No. 510/2002 Coll. on payment services and on the amendment and supplementation of certain acts, as amended by later regulations. Act of the National Council of the Slovak Republic No. 202/1995 Coll., as amended by later regulations.”.

10.

In § 134 paragraph 3 letter d) the words "bankového dohľadu 93 )" are replaced by the words "ňou vykonávaného dohľadu 93 )".

11.

In § 139 paragraph 2 the words "Národnej banke Slovenska," are deleted.

12.

In § 140 paragraph 5 the second sentence is deleted.

13.

In § 143c to 143o the words "Národná banka Slovenska a", the words "Národnou bankou Slovenska a s", the words "Národná banka Slovenska alebo" and the words "Národnou bankou Slovenska alebo s" are deleted in all grammatical forms.

14.

In § 144 paragraph 18 is deleted.

The existing paragraph 19 is designated as paragraph 18.

15.

In § 145a paragraph 3, the words "on the basis of a notification of the National Bank of Slovakia of a breach of the provisions of the special act 110b ) or" are deleted.

16.

In § 145a paragraph 4, the words "by the National Bank of Slovakia or" and the words "to the National Bank of Slovakia or" are deleted.

17.

In § 147 paragraph 4, second sentence, after the word "cannot" the words "under this Act" are inserted and the semicolon and the part of the sentence after the semicolon are deleted.

18.

In § 147, paragraph 7 is deleted.

19.

After § 173a, § 173b is inserted, which, including the heading, reads:

"§ 173b

Transitional provision to the amendments effective from 1 January 2006

(1)

Permits, approvals and prior consents issued by the Financial Market Authority before 1 January 2006, which are valid on 1 January 2006, shall be deemed to be permits, approvals and prior consents issued under this Act. The provisions of this Act shall apply to the restriction or suspension of the exercise of activities under such a permit and to the amendment, withdrawal or lapse of such a permit; this shall apply mutatis mutandis to the cancellation or lapse of approvals and prior consents issued by the Financial Market Authority before 1 January 2006.

(2)

Proceedings initiated before 1 January 2006 and not concluded with final effect shall be completed procedurally under this Act and the special act. 20 ) The legal effects of acts performed in the proceedings before 1 January 2006 shall be preserved.

(3)

The issuance of generally binding legal regulations, which were issued before 1 January 2006 for the implementation of individual empowering provisions of this Act, shall pass on 1 January 2006 to the competence of the National Bank of Slovakia within the scope laid down by this Act.".

20.

Throughout the text of the Act, the words "odňatie", "odňať" and "odňaté" in all their forms are replaced by the words "odobratie", "odobrať" and "odobraté" in the appropriate grammatical form.

Article VI

Act No. 429/2002 Coll. on the Securities Exchange, as amended by Act No. 594/2003 Coll., Act No. 43/2004 Coll. and Act No. 635/2004 Coll., is amended and supplemented as follows:

In § 4 paragraph 1, the words "decides the Financial Market Authority 12 ) (hereinafter referred to as the 'authority')" are replaced by the words "decides 12 ) the National Bank of Slovakia" and throughout the text of the Act the legislative abbreviation "úrad" in all its forms is replaced by the words "Národná banka Slovenska" in the appropriate grammatical form.

The footnote to reference 12 reads:

"12)

Act No. 747/2004 Coll. on financial market supervision and on the amendment and supplementation of certain acts.".

In § 4 paragraph 7, the words "Ministry of Finance of the Slovak Republic (hereinafter referred to as the 'Ministry')" are replaced by the words "National Bank of Slovakia".

In § 6 paragraph 5, the word "ministerstvo" is replaced by the words "Národná banka Slovenska".

In § 15 paragraph 1, the word "ministerstvu" is replaced by the words "Ministerstvu financií Slovenskej republiky (hereinafter referred to as the 'Ministry')".

In § 17 paragraph 3 letter e), the words "banking supervision, 2 ) foreign exchange control or supervision of payment systems 2 )" are replaced by the words "supervision carried out by it 24a )".

The footnote to reference 24a reads:

"24a)

Act of the National Council of the Slovak Republic No. 566/1992 Coll., as amended by subsequent legislation. Act No. 747/2004 Coll. Act No. 483/2001 Coll., as amended by subsequent legislation. Act No. 510/2002 Coll. on payment transactions and on the amendment and supplementation of certain acts, as amended by subsequent legislation. Act of the National Council of the Slovak Republic No. 202/1995 Coll. Foreign Exchange Act and the Act amending and supplementing Act of the Slovak National Council No. 372/1990 Coll. on misdemeanours, as amended by subsequent legislation, as amended by subsequent legislation.".

In § 18 paragraph 7, the following words are appended at the end: "in trading on the exchange".

After § 68, § 68a is inserted, which, including the heading, reads:

"§ 68a

Transitional provisions to the amendments effective from 1 January 2006

(1)

(2)

Article VII

Act No. 530/1990 Coll. on Bonds, as amended by Act No. 600/1992 Coll., Act of the National Council of the Slovak Republic No. 194/1995 Coll., Act of the National Council of the Slovak Republic No. 58/1996 Coll., Act No. 355/1997 Coll., Act No. 361/1999 Coll., Act No. 103/2000 Coll., Act No. 329/2000 Coll., Act No. 566/2001 Coll., Act No. 96/2002 Coll., Act No. 430/2002 Coll. and Act No. 594/2003 Coll. is amended as follows:

In § 8 (1), the words "Financial Market Authority (hereinafter referred to as the 'Authority') and" are deleted.

In § 8 (2), the words "Authority and" and the words "Authority's and" are deleted.

The footnote to reference 1c reads:

"1c)

Act No. 747/2004 Coll. on the Supervision of the Financial Market and on Amendments and Supplements to Certain Acts."

Throughout the text of the Act, with the exception of § 8, the word "Authority" in all its forms is replaced by the words "National Bank of Slovakia" in the appropriate grammatical form.

Article IX

Act No. 381/2001 Coll. on Compulsory Liability Insurance for Damage Caused by the Operation of a Motor Vehicle and on Amendments and Supplements to Certain Acts, as amended by Act No. 95/2002 Coll., Act No. 99/2003 Coll., Act No. 430/2003 Coll. and Act No. 645/2004 Coll., is amended and supplemented as follows:

In § 6 (3), the words "shall be determined by the Financial Market Authority 11 ) (hereinafter referred to as the 'Authority')" are replaced by the words "shall be determined by 11 ) the National Bank of Slovakia" and throughout the text of the Act the legislative abbreviation "Authority" in all its forms is replaced by the words "National Bank of Slovakia" in the appropriate grammatical form.

The footnote to reference 11 reads:

"11)

Act No. 747/2004 Coll. on the Supervision of the Financial Market and on Amendments and Supplements to Certain Acts."

In § 11 (1), the words "Ministry of Finance of the Slovak Republic (hereinafter referred to as the 'Ministry')" are replaced by the words "National Bank of Slovakia".

In § 16 (4), the word "Ministry" is replaced by the words "National Bank of Slovakia".

In § 20 (4) and (9), the words "revoked" and "revoke" are replaced by the words "withdrawn" and "withdraw".

After § 28a, § 28b is inserted, which including the heading reads:

"§ 28b

Transitional Provisions to Amendments Effective from 1 January 2006

(1)

Approvals issued by the Financial Market Authority before 1 January 2006, which are valid as of 1 January 2006, shall be deemed to be approvals issued pursuant to this Act.

(2)

The issuance of generally binding legal regulations, which were issued before 1 January 2006 for the implementation of individual authorising provisions of this Act, shall pass as of 1 January 2006 to the competence of the National Bank of Slovakia within the scope established by this Act."

Article X

Act No. 281/2001 Coll. on Travel Arrangements, Conditions for the Business Activities of Travel Agencies and Travel Agents and on Amendments and Supplements to the Civil Code, as amended by subsequent legislation, as amended by Act No. 95/2002 Coll., is amended as follows:

In § 12 (2), the words "and the Financial Market Authority 12 )" and the footnote to reference 12 are deleted.

Article XI

Act No. 43/2004 Coll. on Old-Age Pension Savings and on Amendments and Supplements to Certain Acts, as amended by Act No. 186/2004 Coll., Act No. 439/2004 Coll. and Act No. 721/2004 Coll., is amended and supplemented as follows:

In § 47 (1), the words "granted by the Financial Market Authority 43 ) (hereinafter referred to as the 'Authority')" are replaced by the words "granted by 43 ) the National Bank of Slovakia" and throughout the text of the Act the legislative abbreviation "Authority" in all its forms is replaced by the words "National Bank of Slovakia" in the appropriate grammatical form.

The footnote to reference 43 reads:

"43)

Act No. 747/2004 Coll. on the Supervision of the Financial Market and on Amendments and Supplements to Certain Acts."

In § 48 (4), letter i) is deleted.

The existing letters j) to n) are designated as letters i) to m).

In § 48 (7), the third sentence is deleted.

In § 48 (9), § 109 (7), § 111 (12) and § 112 (2) and (9), the words "Ministry" and "Ministry" are replaced by the words "National Bank of Slovakia".

In § 53 (3), § 60 (3), § 61 (6), § 72 (1) and § 82 (8), the words "Ministry of Finance" and "Ministry of Finance" are replaced by the words "National Bank of Slovakia".

In § 111 (11), the words "Director General of the Authority" are replaced by the words "National Bank of Slovakia".

After § 123, § 123a is inserted, which including the heading reads:

"§ 123a

Transitional Provisions to Amendments Effective from 1 January 2006

(1)

Licences, approvals and prior consents issued by the Financial Market Authority before 1 January 2006, which are valid as of 1 January 2006, shall be deemed to be licences, approvals and prior consents issued pursuant to this Act. The provisions of this Act shall apply to the restriction or suspension of the exercise of activities under such a licence and to the amendment, withdrawal or lapse of such a licence; this shall apply mutatis mutandis to the revocation or lapse of approvals and prior consents issued by the Financial Market Authority before 1 January 2006.

(2)

The issuance of generally binding legal regulations, which were issued before 1 January 2006 to implement individual authorising provisions of this Act, passes on 1 January 2006 to the competence of the National Bank of Slovakia within the scope established by this Act.“.

Throughout the text of the Act, with the exception of § 46 paragraph 2, the words „odňatie“, „odňať“ and „odňaté“ in all their forms are replaced by the words „odobratie“, „odobrať“ and „odobraté“ in the appropriate grammatical form.

Article XIII

Act No. 211/2000 Coll. on Free Access to Information and on Amendments and Additions to Certain Acts (the Freedom of Information Act) is amended and supplemented as follows:

In § 8, the words „Ak je požadovaná informácia v súlade s právnymi predpismi označená za štátne tajomstvo alebo služobné tajomstvo, alebo za skutočnosť podliehajúcu šifrovej ochrane informácií, alebo patrí do bankového alebo daňového tajomstva,“ are replaced by the words „Ak požadovaná informácia tvorí utajovanú skutočnosť podľa osobitného zákona 12 ) alebo je predmetom bankového tajomstva alebo daňového tajomstva podľa osobitného zákona, 12 )“.

In the footnote to reference 12, the citations „zákon Národnej rady Slovenskej republiky č. 100/1996 Z. z. o ochrane štátneho tajomstva, služobného tajomstva, o šifrovej ochrane informácií a o zmene a doplnení Trestného zákona v znení neskorších predpisov, § 38 zákona č. 21/1992 Z. z. o bankách v znení neskorších predpisov,“ are replaced by these citations: „zákon č. 215/2004 Z. z. o ochrane utajovaných skutočností a o zmene a doplnení niektorých zákonov, § 91 až 93a zákona č. 483/2001 Z. z. o bankách a o zmene a doplnení niektorých zákonov v znení neskorších predpisov, § 40 zákona Národnej rady Slovenskej republiky č. 566/1992 Zb. o Národnej banke Slovenska v znení neskorších predpisov,“.

The footnote to reference 22 reads:

“22)

For example, Act No. 540/2001 Coll. on State Statistics, § 36 of Act No. 747/2004 Coll. on Supervision of the Financial Market and on Amendments and Additions to Certain Acts, Act of the Slovak National Council No. 81/1992 Coll. on the Czechoslovak Press Agency of the Slovak Republic as amended by Act No. 442/2003 Coll., Act No. 619/2003 Coll. on Slovak Radio, Act No. 16/2004 Coll. on Slovak Television.“.

In § 11 paragraph 1 letter d) reads:

“d)

concerns non-public proceedings, decision-making or supervision carried out by a court, a body active in criminal proceedings or a body of public administration pursuant to a special act 24 ),“.

The footnote to reference 24 reads:

“24)

For example, Act of the National Council of the Slovak Republic No. 38/1993 Coll. on the Organisation of the Constitutional Court of the Slovak Republic, on Proceedings Before It and on the Status of Its Judges as amended by subsequent legislation, Act No. 99/1963 Coll. Code of Civil Procedure as amended by subsequent legislation, Act No. 328/1991 Coll. on Bankruptcy and Settlement as amended by subsequent legislation, Act No. 141/1961 Coll. on Criminal Court Proceedings (Code of Criminal Procedure) as amended by subsequent legislation, Act No. 747/2004 Coll. on Supervision of the Financial Market and on Amendments and Additions to Certain Acts, Act No. 71/1967 Coll. on Administrative Proceedings (Administrative Code) as amended by subsequent legislation, Act of the Slovak National Council No. 372/1990 Coll. on Misdemeanours as amended by subsequent legislation.“.

In § 11 paragraph 1, letter f) is added at the end, which reads:

“f)

it would be contrary to the legally binding acts of the European Communities and the European Union or to an international treaty to which the Slovak Republic is bound. 24a )“.

The footnote to reference 24a reads:

“24a)

For example, Article 38. 1 of Protocol No. 18 on the Statute of the European System of Central Banks and of the European Central Bank to the Treaty establishing the European Community in the applicable version, the annexes to the Treaty on the Accession of the Slovak Republic to the European Union (Notice No. 185/2004 Coll.).“.

Article XIV

Act of the National Council of the Slovak Republic No. 118/1996 Coll. on Deposit Protection and on Amendments and Additions to Certain Acts as amended by Act No. 154/1999 Coll., Act No. 397/2001 Coll., Act No. 492/2001 Coll., Act No. 340/2003 Coll., Act No. 186/2004 Coll, Act No. 554/2004 Coll. and Act No. 650/2004 Coll. is amended and supplemented as follows:

In § 12 paragraph 6, the words „a investícií“ are inserted after the word „vkladov“.

In the footnote to reference 17, the following sentence is added at the end: „Zákon č. 747/2004 Z. z. o dohľade nad finančným trhom a o zmene a doplnení niektorých zákonov.“.

In § 22 paragraph 2, the words „ako opatrenie na nápravu“ are inserted after the word „môže“.

In § 22b par. 3, second sentence, after the word “deposits”, the words “and investments” are inserted, and the comma and the words “and as of the date of entry into force of the Treaty of Accession of the Slovak Republic to the European Union” are deleted.

Čl. XV

Act of the National Council of the Slovak Republic No. 202/1995 Coll., the Foreign Exchange Act and the Act amending and supplementing Act of the Slovak National Council No. 372/1990 Coll. on misdemeanors, as amended, as amended by Act No. 45/1998 Coll., Act No. 200/1998 Coll., Act No. 388/1999 Coll., Act No. 367/2000 Coll., Act No. 442/2000 Coll., Act No. 456/2002 Coll., Act No. 602/2003 Coll. and Act No. 554/2004 Coll., is amended and supplemented as follows:

The footnotes to references 23, 23a and 30 read:

„23)

Act of the National Council of the Slovak Republic No. 566/1992 Coll., as amended. Act No. 747/2004 Coll. on supervision of the financial market and on the amendment and supplementation of certain acts.

23a)

§ 8 par. 2 letter d) of Act No. 747/2004 Coll.

30)

§ 12 to 34 of Act No. 747/2004 Coll.“.

In § 40, the following sentence is added at the end: “Decisions at first instance and authorisations for the performance of on-site supervision shall be signed by the head of this department or a deputy authorised by him.”.

After § 43b, § 43c is inserted, which, including the heading, reads:

“§ 43c

Transitional provisions for amendments effective from 1 January 2006

(1)

Proceedings commenced and not finally concluded before 1 January 2006 shall be procedurally completed under this Act and a special act. 30 ) The legal effects of acts which occurred in the proceedings before 1 January 2006 shall remain preserved.

(2)

On-site supervision commenced and not completed before 1 January 2006 shall be completed under this Act and special acts. 23 ) The legal effects of acts which occurred during on-site supervision before 1 January 2006 shall remain preserved.”.

Art. XVI

Act of the National Council of the Slovak Republic No. 650/2004 Coll. on supplementary pension saving and on amendment and supplementation of certain acts is amended and supplemented as follows:

In § 22(1), the words “the Financial Market Authority 9 ) (hereinafter referred to as the ‘Authority’)” are replaced by the words “the National Bank of Slovakia” and throughout the text of the Act the legislative abbreviation “Authority” in all its forms is replaced by the words “National Bank of Slovakia” in the appropriate grammatical form.

The footnote to reference 9 reads:

“9)

Act No. 747/2004 Coll. on supervision of the financial market and on amendment and supplementation of certain acts.”.

The footnote to reference 21 reads:

“21)

§ 27(1) to (5) of Act No. 747/2004 Coll.”.

In § 23(9), the words “the Ministry of Labour, Social Affairs and Family of the Slovak Republic (hereinafter referred to as the ‘Ministry’)” are replaced by the words “the National Bank of Slovakia”.

In § 26(5) and § 67(3), the words “Ministry” and “Ministry” are replaced by the words “National Bank of Slovakia”.

In § 25(1)(a), the word “withdrawal” is replaced by the word “revocation”.

In § 33(6), § 34(5) and § 55(1), the words “Ministry of Finance” and the words “Ministry of Finance” are replaced by the words “National Bank of Slovakia”.

In § 78(2), first sentence, the word “Ministry,” is replaced by the words “Ministry of Labour, Social Affairs and Family of the Slovak Republic”.

After § 87, § 87a is inserted, which, including the heading, reads:

“§ 87a

Transitional provisions for amendments effective from 1 January 2006

(1)

Licences, approvals and consents issued by the Financial Market Authority before 1 January 2006 which are valid as of 1 January 2006 shall be deemed to be licences, approvals and consents issued under this Act. The provisions of this Act shall apply to the restriction or suspension of the performance of activities under such a licence and to the amendment, revocation or expiry of such a licence; this shall apply mutatis mutandis to the cancellation or expiry of approvals and consents issued by the Financial Market Authority before 1 January 2006.

(2)

The issuance of generally binding legal regulations which were issued before 1 January 2006 to implement individual authorising provisions of this Act shall pass from 1 January 2006 to the competence of the National Bank of Slovakia to the extent laid down by this Act.

(3)

Proceedings commenced and not finally concluded before 1 January 2006 shall be procedurally completed under this Act and a special act. 9 ) The legal effects of acts which occurred in the proceedings before 1 January 2006 shall remain preserved.

(4)

On-site supervision commenced and not completed before 1 January 2006 shall be completed under this Act and a special act. 9 ) The legal effects of acts which occurred during on-site supervision before 1 January 2006 shall remain preserved.”.

Art. XVII

Act No. 523/2004 Coll. on budgetary rules of public administration and on amendment and supplementation of certain acts is supplemented as follows:

In § 9(3), after the words “tax revenues” the words “and revenues connected with the administration of the state debt” are inserted and after the words “expenditures of the state budget” the words “including expenditures connected with the administration of the state debt” are inserted.

Art. XVIII

Act No. 291/2002 Coll. on the State Treasury and on amendment and supplementation of certain acts, as amended by Act No. 386/2002 Coll., Act No. 428/2002 Coll., Act No. 523/2004 Coll. and Act No. 581/2004 Coll., is amended and supplemented as follows:

In § 2, paragraph 2 is supplemented by letter l), which reads:

“l)

a public administration entity, 1 ) which is not listed in letters a) to j), on the basis of a written agreement with the State Treasury concluded after prior written consent of the ministry; the agreement may also determine that certain acts concerning such a client, in relation to the State Treasury, will be performed by the founder of this client or another agreed entity; the provisions of this Act shall apply equally to the relevant acts of the founder or another agreed entity.”.

In § 7(1), after the word “republic” the word “and” is replaced by a comma and at the end the following words are added: “and a client referred to in § 2(2)(l)”.

In § 7(4)(b), at the end the following words are added: “or a budget according to the applicable budgetary classification, if the higher territorial unit so agrees with the State Treasury after prior written consent of the ministry”.

In § 8 para. 1, the following sentence is added at the end: "The client referred to in § 2 para. 2 letter l) shall also proceed in accordance with paragraphs 2 to 15, if so determined in an agreement with the State Treasury.".

In § 9 para. 1, the following sentence is added at the end: "The client referred to in § 2 para. 2 letter l) shall also proceed in accordance with paragraphs 2 to 10, if so determined in an agreement with the State Treasury. 1 )".

Art. XIX

Act No. 639/2004 on the National Motorway Company and on the amendment and supplementation of Act No. 135/1961 Coll. on land communications (Road Act) as amended is amended as follows:

In § 8 para. 2, after the words "infrastructure property", the comma is deleted, the words "state aid 12 )" are replaced by the words "and subsidies determined by the Act on the State Budget for the relevant budget year" and the footnote to reference 12 is deleted.

Art. XX

Act No. 582/2004 Coll. on local taxes and the local fee for municipal waste and small construction waste is supplemented as follows:

§ 104 is supplemented by paragraph 10, which reads:

"(10)

If, as of 1 January 2005, a higher territorial unit introduces a motor vehicle tax, for vehicles that are subject to the tax and are registered as of 1 January 2005 in the territorial district of this higher territorial unit, a natural person or legal person who is a taxpayer under § 85 shall file a tax return by 31 January 2005 and pay the tax within the deadlines and under the conditions set out in § 91.".

Art. XXI

The President of the National Council of the Slovak Republic is authorised to announce in the Collection of Laws of the Slovak Republic the full wording of

Act No. 510/2002 Coll. on payment transactions and on the amendment and supplementation of certain acts, as resulting from the amendments and supplements made by Act No. 589/2003 Coll., Act No. 604/2003 Coll., Act No. 554/2004 Coll., Act No. 646/2004 Coll. and this Act,

Act No. 483/2001 Coll. on banks and on the amendment and supplementation of certain acts, as resulting from the amendments and supplements made by Act No. 430/2002 Coll., Act No. 510/2002 Coll., Act No. 165/2003 Coll., Act No. 603/2003 Coll., Act No. 215/2004 Coll., Act No. 554/2004 Coll. and this Act,

Act of the National Council of the Slovak Republic No. 566/1992 Coll. on the National Bank of Slovakia, as resulting from the amendments and supplements made by Act of the National Council of the Slovak Republic No. 26/1993 Coll., Act of the National Council of the Slovak Republic No. 159/1993 Coll., Act of the National Council of the Slovak Republic No. 249/1994 Coll., Act of the National Council of the Slovak Republic No. 374/1994 Coll., Act of the National Council of the Slovak Republic No. 202/1995 Coll., Act of the National Council of the Slovak Republic No. 118/1996 Coll., Act of the National Council of the Slovak Republic No. 386/1996 Coll., Act No. 348/1999 Coll., Act No. 149/2001 Coll., Act No. 602/2003 Coll. and this Act,

Act No. 566/2001 Coll. on securities and investment services and on the amendment and supplementation of certain acts (Securities Act), as resulting from the amendments and supplements made by Act No. 291/2002 Coll., Act No. 510/2002 Coll., Act No. 162/2003 Coll., Act No. 594/2003 Coll., Act No. 43/2004 Coll., Act No. 635/2004 Coll. and this Act,

Act No. 95/2002 Coll. on insurance and on the amendment and supplementation of certain acts, as resulting from the amendments and supplements made by Act No. 430/2003 Coll., Act No. 186/2004 Coll., Act No. 580/2004 Coll., Act No. 645/2004 Coll. and this Act.

Art. XXII

This Act shall enter into force on 1 January 2006, with the exception of Art. XVII, Art. XVIII, Art. XIX and Art. XX, which shall enter into force on 1 January 2005, and with the exception of Art. I, § 45 para. 5 third sentence and Art. XII point 1 (§ 21 para. 2 letter d), point 3 (§ 71a) and point 4 (§ 72a), which shall enter into force on 1 February 2005.

Ivan Gašparovič v. r. Pavol Hrušovský v. r. Mikuláš Dzurinda v. r.

Annex to Act No. 747/2004 Coll.

List of adopted legally binding acts of the European Union

Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (recast) (OJ L 302, 17. 11. 2009), as amended by Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 (OJ L 331, 15. 12. 2010), Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 (OJ L 174, 1. 7. 2011).

Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27. 6. 2013).

Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010 (OJ L 174, 1. 7. 2011). as amended by Directive 2013/14/EU of the European Parliament and of the Council of 21 May 2013 (OJ L 145, 31. 5. 2013).

Directive 2001/34/EC of the European Parliament and of the Council of 28 May 2001 on the admission of securities to official stock exchange listing and on information to be published on those securities (OJ L 184, 6. 07. 2001), as amended by Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 (OJ L 096, 12. 04. 2003), Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 (OJ L 345, 31. 12. 2003).

Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council (OJ L 035, 11. 02. 2003).

Directive 2005/29/EC of the European Parliament and of the Council of 11 May 2005 concerning unfair business-to-consumer commercial practices in the internal market and amending Council Directive 84/450/EEC, Directives 97/7/EC, 98/27/EC and 2002/65/EC of the European Parliament and of the Council and Regulation (EC) No 2006/2004 of the European Parliament and of the Council (Unfair Commercial Practices Directive) (OJ EU L 149, 11. 6. 2005).

Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ EU L 335, 17. 12. 2009) as amended by Directive 2011/89/EU of the European Parliament and of the Council of 16 November 2011 (OJ EU L 326, 8. 12. 2011), Directive 2012/23/EU of the European Parliament and of the Council of 12 September 2012 (OJ EU L 249, 14. 9. 2012), Directive 2013/23/EU of the European Parliament and of the Council of 13 May 2013 (OJ EU L 158, 10. 6. 2013), Directive 2013/58/EU of the European Parliament and of the Council of 11 December 2013 (OJ EU L 341, 18. 12. 2013), Directive 2014/51/EU of the European Parliament and of the Council of 16 April 2014 (OJ EU L 153, 22. 5. 2014).

Commission Implementing Directive (EU) 2015/2392 of 17 December 2015 on Regulation (EU) No 596/2014 of the European Parliament and of the Council as regards reporting to competent authorities of actual or potential infringements of that Regulation (OJ EU L 332, 18. 12. 2015).

Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (recast) (OJ EU L 173, 12. 6. 2014) as amended by Regulation (EU) No 909/2014 (OJ EU L 257, 28. 8. 2014) and Directive (EU) 2016/1034 (OJ EU L 175, 30. 6. 2016).

10.

Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (OJ EU L 337, 23. 12. 2015).

11.

Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution (recast) (OJ EU L 26, 2. 2. 2016).

12.

Directive (EU) 2019/2034 of the European Parliament and of the Council of 27 November 2019 on the prudential supervision of investment firms and amending Directives 2002/87/EC, 2009/65/EC, 2011/61/EU, 2013/36/EU, 2014/59/EU and 2014/65/EU (OJ EU L 314, 5. 12. 2019).

13.

Directive (EU) 2021/2167 of the European Parliament and of the Council of 24 November 2021 on credit servicers and credit purchasers and amending Directives 2008/48/EC and 2014/17/EU (OJ EU L 438, 8. 12. 2021).

14.

Directive (EU) 2022/2556 of the European Parliament and of the Council of 14 December 2022 amending Directives 2009/65/EC, 2009/138/EC, 2011/61/EU, 2013/36/EU, 2014/59/EU, 2014/65/EU, (EU) 2015/2366 and (EU) 2016/2341 as regards digital operational resilience for the financial sector (OJ EU L 333, 27. 12. 2022).

15.

Directive (EU) 2023/2864 of the European Parliament and of the Council of 13 December 2023 amending certain Directives as regards the establishment and functioning of the European single access point (OJ EU L, 2023/2864, 20. 12. 2023).

For example, Act of the Slovak National Council No. 310/1992 Coll. on building savings, as amended, § 2(3) of Act of the National Council of the Slovak Republic No. 566/1992 Coll. on the National Bank of Slovakia, as amended by Act No. 519/2005 Coll., § 6, 7, 11 to 13, 24 and 24a of Act of the National Council of the Slovak Republic No. 202/1995 Coll. Foreign Exchange Act and the Act amending and supplementing Act of the Slovak National Council No. 372/1990 Coll. on offences, as amended, as amended, § 22 of Act of the National Council of the Slovak Republic No. 118/1996 Coll. on the protection of deposits and on the amendment and supplementation of certain acts, as amended, Act No. 80/1997 Coll. on the Export-Import Bank of the Slovak Republic, as amended, Act No. 147/2001 Coll. on advertising and on the amendment and supplementation of certain acts, as amended, Act No. 381/2001 Coll. on compulsory contractual insurance of liability for damage caused by the operation of a motor vehicle and on the amendment and supplementation of certain acts, as amended, Act No. 483/2001 Coll. on banks and on the amendment and supplementation of certain acts, as amended, Act No. 566/2001 Coll. on securities and investment services and on the amendment and supplementation of certain acts (Securities Act), as amended, Act No. 429/2002 Coll. on the stock exchange, as amended, Act No. 43/2004 Coll. on old-age pension saving and on the amendment and supplementation of certain acts, as amended, Act No. 650/2004 Coll. on supplementary pension saving and on the amendment and supplementation of certain acts, as amended, Act No. 266/2005 Coll. on consumer protection in distance financial services and on the amendment and supplementation of certain acts, as amended, Act No. 8/2008 Coll. on insurance and on the amendment and supplementation of certain acts, as amended, § 18(2) and (5) and § 29(3) to (5) of Act No. 297/2008 Coll. on the protection against the legalisation of proceeds of crime and on the protection against the financing of terrorism and on the amendment and supplementation of certain acts, Act No. 186/2009 Coll. on financial intermediation and financial advisory services and on the amendment and supplementation of certain acts, as amended, § 63 to 87 and 89 of Act No. 492/2009 Coll. on payment services and on the amendment and supplementation of certain acts, as amended, Regulation (EC) No 924/2009 of the European Parliament and of the Council of 16 September 2009 on cross-border payments in the Community,

repealing Regulation (EC) No 2560/2001 (OJ EU L 266, 9. 10. 2009) as amended, Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (OJ EU L 201, 27. 7. 2012) as amended, Act No. 129/2010 Coll. on consumer credits and other credits and loans for consumers and on the amendment and supplementation of certain acts as amended, Act No. 203/2011 Coll. on collective investment as amended, Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ EU L 176, 27. 6. 2013) as amended, Commission Implementing Regulation (EU) No 680/2014 of 16 April 2014 laying down implementing technical standards with regard to supervisory reporting of institutions according to Regulation (EU) No 575/2013 of the European Parliament and of the Council (OJ EU L 191, 28. 6. 2014), Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ EU L 173, 12. 6. 2014) as amended, Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs) (OJ EU L 352, 9. 12. 2014) as amended, Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 (OJ EU L 173, 12. 6. 2014) as amended, Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019 on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014 (OJ EU L 314, 5. 12. 2019) as amended, Regulation (EU) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a pan-European personal pension product (PEPP) (OJ EU L 198, 25. 7. 2019) as amended, Act No. 129/2022 Coll. on the pan-European personal pension product and on the amendment and supplementation of certain acts, Act No. 108/2024 Coll. on consumer protection and on the amendment and supplementation of certain acts, Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937 (OJ EU L 150, 9.6.2023) as amended, Act No. 248/2024 Coll. on certain obligations and rights in the field of crypto-assets and on the amendment and supplementation of certain acts, Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European crowdfunding service providers for
business and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937 (OJ EU L 347, 20. 10. 2020) as amended, Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector and amending Regulations (EC) No 1060/2009, (EU) No 648/2012, (EU) No 600/2014, (EU) No 909/2014 and (EU) 2016/2011 (OJ EU L 333, 27. 12. 2022), Act No. 106/2024 Coll. on credit servicers and credit purchasers and on the amendment and supplementation of certain acts.

1a)

§ 18(5) of Act No. 80/1997 Coll. as amended by Act No. 492/2009 Coll.

1aa)

For example § 2(b) and (c), § 23(1) and § 24(1) of Act No. 129/2010 Coll. as amended, Act No. 90/2016 Coll. on housing loans and on the amendment and supplementation of certain acts as amended by Act No. 299/2016 Coll.

1aaa)

§ 52(4) of the Civil Code as amended.

1aab)

Art. 3(1)(5) of Regulation (EU) 2023/1114 as amended.

1aaaa)

Act No. 106/2024 Coll. on credit servicers and credit purchasers and on the amendment and supplementation of certain acts.

1ab)

For example Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ EU L 287, 29. 10. 2013), Regulation (EU) No 468/2014 of the European Central Bank (ECB/2014/17) of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation) (OJ EU L 141, 14. 5. 2014), Decision of the European Central Bank ECB/2014/29 (2014/477/EU) of 2 July 2014 on the provision to the European Central Bank of supervisory data reported to the national competent authorities by the supervised entities pursuant to Commission Implementing Regulation (EU) No 680/2014 (OJ EU L 214, 19. 7. 2014).

1b)

For example, Regulation (EU) No. 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board (OJ EU L 331, 15. 12. 2010), Regulation (EU) No. 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No. 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ EU L 331, 15. 12. 2010), Regulation (EU) No. 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No. 716/2009/EC and repealing Commission Decision 2009/79/EC (OJ EU L 331, 15. 12. 2010), Regulation (EU) No. 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No. 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ EU L 331, 15. 12. 2010), Council Regulation (EU) No. 1096/2010 of 17 November 2010 conferring specific tasks upon the European Central Bank concerning the functioning of the European Systemic Risk Board (OJ EU L 331, 15. 12. 2010).

§ 7 and 15 of Act No. 575/2001 Coll. on the organization of the activities of the government and the organization of central state administration, as amended.

§ 2(3)(d) of Act No. 350/1996 Coll. of the National Council of the Slovak Republic on the Rules of Procedure of the National Council of the Slovak Republic.

3a)

§ 3(2) of Act No. 566/1992 Coll. of the National Council of the Slovak Republic, as amended by Act No. 659/2007 Coll.

For example, the Code of Civil Procedure, Act No. 244/2002 Coll. on arbitration proceedings, as amended, § 90 to 95 of Act No. 492/2009 Coll., Act No. 335/2014 Coll. on consumer arbitration and on the amendment and supplementation of certain acts.

§ 41 of Act No. 566/1992 Coll. of the National Council of the Slovak Republic, as amended.

5a)

For example, § 3 and § 7(1) of Act No. 270/1995 Coll. of the National Council of the Slovak Republic on the state language of the Slovak Republic, as amended.

§ 9(3) of the Labour Code.

6a)

Art. 16 of Regulation (EU) No. 1093/2010. Art. 16 of Regulation (EU) No. 1094/2010. Art. 16 of Regulation (EU) No. 1095/2010.

§ 2, 3, 29 and 39(1) and § 73a to 73k of Act No. 323/1992 Coll. of the Slovak National Council on notaries and notarial activity (Notarial Code), as amended.

Act No. 423/2015 Coll. on statutory audit and on the amendment and supplementation of Act No. 431/2002 Coll. on accounting, as amended, as amended by Act No. 91/2016 Coll.

§ 99 to 111 of Act No. 566/2001 Coll., as amended.

10)

§ 2 of Act No. 429/2002 Coll.

11)

For example, Act No. 7/2005 Coll. on bankruptcy and restructuring and on the amendment and supplementation of certain acts, as amended, § 8 to 9a of Act No. 328/1991 Coll. on bankruptcy and settlement, as amended, Act No. 233/1995 Coll. of the National Council of the Slovak Republic on court executors and execution activity (Execution Code) and on the amendment and supplementation of other acts, as amended, Act No. 382/2004 Coll. on experts, interpreters and translators and on the amendment and supplementation of certain acts, Chapter V of Regulation (EU) 2022/2554.

11a)

For example, Act No. 275/2006 Coll. on information systems of public administration and on the amendment and supplementation of certain acts, as amended.

11b)

For example, § 27 of the Commercial Code, as amended, Act No. 530/2003 Coll. on the commercial register and on the amendment and supplementation of certain acts, as amended, § 60 to 60b of Act No. 455/1991 Coll. on trade business (Trade Licensing Act), as amended, § 2 to 9 of Act No. 162/1995 Coll. of the National Council of the Slovak Republic on the real estate cadastre and on the registration of ownership and other rights to real estate (Cadastral Act), as amended, § 20 and 21 of Act No. 540/2006 Coll. on state statistics, as amended, Act No. 330/2007 Coll., as amended, § 170(3) and § 226(1)(e) of Act No. 461/2003 Coll. on social insurance, as amended, Act No. 125/2015 Coll. on the address register and on the amendment and supplementation of certain acts, Act No. 272/2015 Coll. on the register of legal persons, entrepreneurs and public authorities and on the amendment and supplementation of certain acts, as amended by Act No. 52/2018 Coll.

11c)

§ 12(4) and (5) of Act No. 192/2023 Coll. on the criminal register and on the amendment and supplementation of certain acts.

11d)

§ 12(4) to (15) and § 13 of Act No. 192/2023 Coll.

12)

For example, § 2(1) and § 15 of Act No. 466/2002 Coll.

13)

For example, § 16 of Act No. 466/2002 Coll.

14)

Act No. 211/2000 Coll. on free access to information and on the amendment and supplementation of certain acts (Freedom of Information Act), as amended by Act No. 747/2004 Coll.

15)

For example, § 11(1)(g) and (h) of Act No. 211/2000 Coll., as amended, Art. 37(37.1) of the Protocol on the Statute of the European System of Central Banks and of the European Central Bank (OJ EU C 202, 7. 6. 2016), as amended.

15a)

§ 20f to 20j of the Civil Code, as amended.

15b)

Agreement on the European Economic Area (Special edition of OJ EU, Chapter 11/Vol. 52; OJ EC L 1, 3. 1. 1994), as amended.

16)

Labour Code.

17)

§ 6(2)(c) of Act No. 566/1992 Coll. of the National Council of the Slovak Republic.

18)

§ 6(1)(b) and § 8(1) to (3) of Act No. 566/1992 Coll. of the National Council of the Slovak Republic, as amended.

19)

§ 177 to 193 of the Code of Administrative Justice.

19a)

Art. 2(2) of Regulation (EU) 2023/2859 of the European Parliament and of the Council of 13 December 2023 establishing a single European access point providing centralized access to publicly available information relating to financial services, capital markets and sustainability (OJ EU L, 2023/2859, 20. 12. 2023), as amended.

19b)

Art. 21a(3) of Regulation (EU) No. 596/2014 as amended. Art. 29a(3) of Regulation (EU) No. 1286/2014 as amended. Art. 70a(3) of Regulation (EU) 2019/1238 as amended. Art. 18a(3) of Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector (OJ L 317, 9.12.2019) as amended. Art. 110a(3) of Regulation (EU) 2023/1114 as amended. Art. 15a(4) of Regulation (EU) 2023/2631 of the European Parliament and of the Council of 22 November 2023 on European Green Bonds and optional disclosures for bonds marketed as environmentally sustainable and for sustainability-linked bonds (OJ L, 2023/2631, 30.11.2023) as amended. § 220ge of the Commercial Code. § 49p and 49q of Act No. 483/2001 Coll. as amended by Act No. 187/2025 Coll. § 143p and 143q of Act No. 566/2001 Coll. as amended by Act No. 187/2025 Coll. § 59b and 59c of Act No. 429/2002 Coll. as amended by Act No. 187/2025 Coll. § 67d of Act No. 650/2004 Coll. as amended by Act No. 187/2025 Coll. § 38a of Act No. 186/2009 Coll. as amended by Act No. 187/2025 Coll. § 201d of Act No. 203/2011 Coll. as amended by Act No. 187/2025 Coll. § 98a of Act No. 371/2014 Coll. on resolution of crises in the financial market and on amendment and supplementation of certain acts as amended by Act No. 187/2025 Coll. § 80a and 80b of Act No. 39/2015 Coll. as amended by Act No. 187/2025 Coll.

19c)

Regulation (EU) 2023/2859 as amended.

19d)

§ 220ge of the Commercial Code. § 49p(1) of Act No. 483/2001 Coll. as amended by Act No. 187/2025 Coll. § 143p(1) of Act No. 566/2001 Coll. as amended by Act No. 187/2025 Coll. § 59b(1) of Act No. 429/2002 Coll. as amended by Act No. 187/2025 Coll. § 67d(1) of Act No. 650/2004 Coll. as amended by Act No. 187/2025 Coll. § 201d(1) of Act No. 203/2011 Coll. as amended by Act No. 187/2025 Coll. § 98a(1) of Act No. 371/2014 Coll. as amended by Act No. 187/2025 Coll. § 80a(1) of Act No. 39/2015 Coll. as amended by Act No. 187/2025 Coll.

19e)

Art. 2(3) of Regulation (EU) 2023/2859 as amended.

19f)

Commission Delegated Regulation (EU) 2019/815 of 17 December 2018 supplementing Directive 2004/109/EC of the European Parliament and of the Council with regard to regulatory technical standards on the specification of a single electronic reporting format (OJ L 143, 29.5.2019) as amended.

19g)

Art. 2(4) of Regulation (EU) 2023/2859 as amended.

19h)

§ 220ge of the Commercial Code. § 49p(1) of Act No. 483/2001 Coll. as amended by Act No. 187/2025 Coll. § 143p(1) of Act No. 566/2001 Coll. as amended by Act No. 187/2025 Coll. § 59b(1) of Act No. 429/2002 Coll. as amended by Act No. 187/2025 Coll. § 67d(1) of Act No. 650/2004 Coll. as amended by Act No. 187/2025 Coll. § 4(5) of Act No. 203/2011 Coll. as amended by Act No. 187/2025 Coll. § 98a(1) of Act No. 371/2014 Coll. as amended by Act No. 187/2025 Coll. § 80a(1) of Act No. 39/2015 Coll. as amended by Act No. 187/2025 Coll.

19i)

Art. 7(4)(b) of Regulation (EU) 2023/2859 as amended.

19j)

Art. 7(4)(d) of Regulation (EU) 2023/2859 as amended.

19k)

Art. 7(4)(e) of Regulation (EU) 2023/2859 as amended.

19l)

Art. 7(4)(c) of Regulation (EU) 2023/2859 as amended.

19m)

§ 49p(1) of Act No. 483/2001 Coll. as amended by Act No. 187/2025 Coll. § 143p(1)(a), (h) and (i) of Act No. 566/2001 Coll. as amended by Act No. 187/2025 Coll. § 59b(1)(b) of Act No. 429/2002 Coll. as amended by Act No. 187/2025 Coll. § 65(1)(j), (n) and (o) of Act No. 650/2004 Coll. as amended by Act No. 187/2025 Coll. § 201d(1) of Act No. 203/2011 Coll. as amended by Act No. 187/2025 Coll. § 98a(1) of Act No. 371/2014 Coll. as amended by Act No. 187/2025 Coll. § 80a(1)(a), (b) and (d) of Act No. 39/2015 Coll. as amended by Act No. 187/2025 Coll.

20)

For example § 40 of Act of the National Council of the Slovak Republic No. 202/1995 Coll. Foreign Exchange Act and the Act amending and supplementing Act of the Slovak National Council No. 372/1990 Coll. on misdemeanours as amended.

21)

Act No. 71/1967 Coll. on administrative proceedings (Administrative Procedure Code) as amended. § 9 of Act No. 266/2005 Coll.

22)

Art. 21 of the Constitution of the Slovak Republic.

22a)

§ 2(15) of Act No. 395/2002 Coll. on archives and registries and on supplementing certain acts as amended.

23)

For example Act No. 215/2004 Coll. on protection of classified information and on amendment and supplementation of certain acts, § 40 and 41 of Act of the National Council of the Slovak Republic No. 566/1992 Coll. as amended, § 91 to 93a of Act No. 483/2001 Coll. as amended, § 17 to 20 of the Commercial Code.

23a)

For example § 22(4) of Act No. 530/1990 Coll. as amended, § 50(10) of Act No. 483/2001 Coll. as amended, § 144(5) of Act No. 566/2001 Coll. as amended, § 61(1) of Act No. 429/2002 Coll., § 106(6) of Act No. 594/2003 Coll., § 115(6) of Act No. 43/2004 Coll. as amended, § 71(4) of Act No. 650/2004 Coll. as amended, § 67(10) of Act No. 8/2008 Coll. as amended, § 39(2) and (6) of Act No. 186/2009 Coll., § 78(6) and § 86(6) of Act No. 492/2009 Coll. as amended by Act No. 394/2011 Coll., § 23(4) of Act No. 129/2010 Coll.

24)

§ 136(1) and § 137(1) of the Labour Code.

25)

For example, Act No. 483/2001 Coll. as amended, Act of the Slovak National Council No. 310/1992 Coll. as amended, Act No. 566/2001 Coll. as amended, Act No. 530/1990 Coll. as amended, Act No. 429/2002 Coll. as amended, Act No. 594/2003 Coll. as amended, Act No. 8/2008 Coll. as amended, Act No. 381/2001 Coll. as amended, Act No. 43/2004 Coll. as amended, Act No. 650/2004 Coll., Act No. 186/2009 Coll. as amended by Act No. 129/2010 Coll., Act No. 492/2009 Coll. as amended, Act of the National Council of the Slovak Republic No. 202/1995 Coll. as amended, Section 22 of Act of the National Council of the Slovak Republic No. 118/1996 Coll. as amended, Sections 17f, 17g and Section 45 of Act of the National Council of the Slovak Republic No. 566/1992 Coll. as amended, Regulation (EU) No. 575/2013, Regulation (EU) 2019/1238 as in force, Act No. 129/2022 Coll.

26)

Section 2(11) of Act No. 483/2001 Coll.

26a)

Section 6(3) second sentence of Act No. 381/2001 Coll. as amended.

26b)

For example, Commission Delegated Regulation (EU) 2019/979 of 14 March 2019 supplementing Regulation (EU) 2017/1129 of the European Parliament and of the Council with regard to regulatory technical standards on key financial information in the summary of a prospectus, the publication and classification of prospectuses, advertisements for securities, supplements to a prospectus, and the notification portal, and repealing Commission Delegated Regulation (EU) No. 382/2014 and Commission Delegated Regulation (EU) 2016/301 (OJ L 166, 21.6.2019) as in force, Commission Delegated Regulation (EU) 2019/980 of 14 March 2019 supplementing Regulation (EU) 2017/1129 of the European Parliament and of the Council as regards the format, content, scrutiny and approval of the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Commission Regulation (EC) No. 809/2004 (OJ L 166, 21.6.2019) as in force.

27)

Section 34b(1)(a) to (c) of Act of the National Council of the Slovak Republic No. 566/1992 Coll. as amended.

27a)

Section 1(1)(c) and Sections 23 to 23d of Act No. 431/2002 Coll. as amended.

27aa)

Section 40(4) of the Civil Code.

28)

For example, Sections 53 to 62 of Act No. 483/2001 Coll. as amended, Sections 147 to 155 of Act No. 566/2001 Coll. as amended, Sections 109 and 110 of Act No. 594/2003 Coll., Sections 51 to 59 of Act No. 95/2002 Coll. as amended.

28a)

Section 65a of Act No. 483/2001 Coll. as amended by Act No. 371/2014 Coll.

29)

For example, Sections 114 to 118 of Act No. 566/2001 Coll. as amended by Act No. 594/2003 Coll.

29a)

For example, Section 50(2) of Act No. 483/2001 Coll. as amended, Section 144(7) of Act No. 566/2001 Coll. as amended, Section 67(5) of Act No. 8/2008 Coll. as amended by Act No. 552/2008 Coll.

29b)

For example, Section 52(1) of Act No. 483/2001 Coll., Section 146(1) of Act No. 566/2001 Coll. as amended by Act No. 747/2004 Coll., Section 86(1) of Act No. 8/2008 Coll.

29c)

Section 2(3) of the Commercial Code as amended.

30)

Section 31(5) of Act No. 507/2001 Coll. on postal services as amended by Act No. 15/2004 Coll.

31)

For example, Act No. 530/2003 Coll. on the Commercial Register and on amendment and supplementation of certain acts, Section 27 of the Commercial Code, Section 60 of Act No. 455/1991 Coll. on trade licensing (Trade Licensing Act) as amended, Section 2(2) and Sections 10 and 11 of Act No. 34/2002 Coll. on foundations and on amendment of the Civil Code as amended, Section 9(1) and (2) and Section 10 of Act No. 147/1997 Coll. on non-investment funds and on supplementation of Act of the National Council of the Slovak Republic No. 207/1996 Coll., Section 9(1) and (2) and Section 11 of Act No. 213/1997 Coll. on non-profit organizations providing generally beneficial services as amended by Act No. 35/2002 Coll., Sections 6, 7, 9 and 9a of Act No. 83/1990 Coll. on association of citizens as amended, Section 6(1) and Section 7 of Act of the National Council of the Slovak Republic No. 182/1993 Coll. on ownership of apartments and non-residential premises as amended, Section 4(3) of Act No. 515/2003 Coll. on regional offices and district offices and on amendment and supplementation of certain acts.

32)

For example, Act No. 530/2003 Coll., Section 27 of the Commercial Code, Section 60 of Act No. 455/1991 Coll. as amended, Section 34(9) of Act No. 95/2002 Coll., Sections 12b and 12c of Act No. 105/1990 Coll. on private business of citizens as amended by Act No. 219/1991 Coll.

33)

Act of the National Council of the Slovak Republic No. 241/1993 Coll. on state holidays, days of rest and commemorative days as amended.

34)

For example, Section 7(1) of Act No. 483/2001 Coll.

34a)

For example, Section 47(1) and (2) of Act No. 7/2005 Coll. as amended.

35)

For example, Section 9(4), Section 13(2), Section 30(3), Section 50(5) and Section 94(2) of Act No. 483/2001 Coll. as amended, Section 61(6), Section 70(7), Section 102(9), Section 103(4), Section 114(5), Section 122(4), Section 124(2) and Section 144(10) of Act No. 566/2001 Coll. as amended, Section 13(9), Section 32(3), Section 36(8), Section 37(7) and (11) and Section 50(2) of Act No. 95/2002 Coll. as amended, Section 10(5), Section 57(4) and Section 68(4) of Act No. 594/2003 Coll. as amended, Section 52(5), Section 111(8) and Section 116(3) of Act No. 43/2004 Coll. as amended, Section 6(6) and Section 18(3) of Act No. 429/2002 Coll. as amended, Act No. 129/2022 Coll.

36)

Act No. 382/2004 Coll. Decree of the Ministry of Justice of the Slovak Republic No. 490/2004 Coll., implementing Act No. 382/2004 Coll. on experts, interpreters and translators and on amendment and supplementation of certain acts.

36a)

Act No. 483/2001 Coll. as amended. Act No. 566/2001 Coll. as amended. Act No. 429/2002 Coll. as amended. Act No. 43/2004 Coll. as amended. Act No. 650/2004 Coll. as amended. Act No. 203/2011 Coll. as amended. Act No. 39/2015 Coll. on insurance and on the amendment and supplementation of certain acts as amended.

37)

§ 116 of the Civil Code.

38)

Act No. 382/2004 Coll.

39)

§ 9(1) of Act of the National Council of the Slovak Republic No. 566/1992 Coll. as amended by Act No. 149/2001 Coll.

40)

§ 44 of Act of the National Council of the Slovak Republic No. 566/1992 Coll. as amended by Act No. 602/2003 Coll.

41)

§ 22 to 27 of Act No. 153/2001 Coll. on the Public Prosecution Service.

42)

§ 177 to 193 of the Code of Administrative Justice.

42a)

For example § 71 of the Code of Administrative Justice, § 50(10) of Act No. 483/2001 Coll. as amended.

42b)

For example § 3 and 4, § 123 to 128, § 137(a), § 229, § 324 to 344 of the Code of Civil Procedure.

42c)

§ 4 of Act No. 357/2015 Coll. on financial control and audit and on the amendment and supplementation of certain acts. § 3(1) and (2) of Act No. 374/2014 Coll. on state receivables and on the amendment and supplementation of certain acts.

42ca)

§ 2(m) of Act No. 108/2024 Coll.

42cb)

§ 9(10) of Act No. 108/2024 Coll.

42d)

§ 9 to 12 of Act No. 108/2024 Coll.

42e)

§ 53 of the Civil Code as amended.

42ea)

Art. 3(15) of Regulation (EU) 2017/2394 of the European Parliament and of the Council of 12 December 2017 on cooperation between national authorities responsible for the enforcement of consumer protection laws and repealing Regulation (EC) No. 2006/2004 (OJ L 345, 27. 12. 2017) as in force.

42eb)

For example Act No. 483/2001 Coll. as amended, Act No. 566/2001 Coll. as amended, Act No. 492/2009 Coll. as amended, Act No. 129/2010 Coll. as amended, Act No. 39/2015 Coll. as amended, Act No. 90/2016 Coll. as amended.

42ec)

Regulation (EU) 2017/2394 as in force.

42ed)

§ 2(b) of Act No. 22/2004 Coll. on electronic commerce and on the amendment and supplementation of Act No. 128/2002 Coll. on state control of the internal market in matters of consumer protection and on the amendment and supplementation of certain acts as amended by Act No. 284/2002 Coll.

42ee)

Art. 3(3) of Regulation (EU) 2017/2394 as in force.

42ef)

Art. 3(4) of Regulation (EU) 2017/2394 as in force.

42eg)

Art. 21 of Regulation (EU) 2017/2394 as in force.

42f)

For example the Civil Code as amended, the Commercial Code as amended, the Labour Code as amended, the Criminal Code as amended.

43a)

For example § 1(1)(c) and § 13 to 17 of Act No. 186/2009 Coll. as amended, § 20 and 24 of Act No. 129/2010 Coll. as amended, § 31a and 31b of Act No. 203/2011 Coll. as amended by Act No. 206/2013 Coll.

43b)

Act No. 461/2003 Coll. as amended.

43c)

For example § 38 of Act No. 483/2001 Coll. as amended.

43d)

Art. 26(7) of Regulation (EU) 2022/2554.

44)

§ 88(1)(a) and § 125 of Act No. 203/2011 Coll. as amended.

44a)

For example Art. 12(2) of Regulation (EU) No. 648/2012.

45)

Act No. 566/2001 Coll. as amended. Act No. 429/2002 Coll. as amended.

46)

Act No. 203/2011 Coll. as amended.

47)

Act No. 39/2015 Coll. as amended.

47a)

Regulation (EU) No. 596/2014.

47b)

Art. 27 to 29 of Regulation (EU) No. 596/2014.

47c)

Act No. 122/2013 Coll. on the protection of personal data and on the amendment and supplementation of certain acts as amended by Act No. 84/2014 Coll.

47d)

Act No. 395/2002 Coll. as amended. Act No. 122/2013 Coll. as amended by Act No. 84/2014 Coll.

47e)

§ 4(3)(i) and § 6(2)(b) and (d) of Act No. 122/2013 Coll.

47f)

For example, Act of the National Council of the Slovak Republic No. 308/1993 Coll. on the establishment of the Slovak National Centre for Human Rights as amended, Act No. 125/2006 Coll. on labour inspection and on the amendment and supplementation of Act No. 82/2005 Coll. on illegal work and illegal employment and on the amendment and supplementation of certain acts as amended.

47g)

For example, Art. 17(2) of Regulation (EU) No. 1286/2014 as in force, Art. 42(2) of Regulation (EU) No. 600/2014.

47h)

Art. 17 of Regulation (EU) No. 1286/2014. Art. 42 of Regulation (EU) No. 600/2014.

47i)

Art. 17(4) of Regulation (EU) No. 1286/2014. Art. 42(4) of Regulation (EU) No. 600/2014.

47j)

For example, Regulation (EU) No. 600/2014, Regulation (EU) No. 1286/2014.

47k)

For example, Art. 17(3) and (4) of Regulation (EU) No. 1286/2014, Art. 42(3) and (4) of Regulation (EU) No. 600/2014.

47l)

Art. 17(2)(a) of Regulation (EU) No. 1286/2014. Art. 42(2)(a) of Regulation (EU) No. 600/2014.

47m)

§ 12(1)(b) and § 13(f) of Act No. 400/2015 Coll. on the drafting of legal regulations and on the Collection of Laws of the Slovak Republic and on the amendment and supplementation of certain acts.

47n)

Regulation (EU) No. 600/2014.

47o)

Regulation (EU) No. 1308/2013 of the European Parliament and of the Council of 17 December 2013 establishing a common organisation of the markets in agricultural products and repealing Council Regulations (EEC) No. 922/72, (EEC) No. 234/79, (EC) No. 1037/2001 and (EC) No. 1234/2007 (OJ L 347, 20. 12. 2013) as in force.

47p)

Art. 5(1), Art. 6 and 7, Art. 8(1) to (3), Art. 9, Art. 10(1), Art. 13(1), (3) and (4) and Art. 14, 19 and 34 of Regulation (EU) No. 1286/2014.

47r)

Art. 25 of Regulation (EU) No. 1286/2014.

47s)

Art. 5 to 14 of Regulation (EU) No. 1286/2014.

47t)

Art. 6, 7, 8 or Art. 10 of Regulation (EU) No. 1286/2014.

47u)

§ 22 and the eleventh point of the annex to Act No. 431/2002 Coll. as amended.

47v)

Art. 63 of Regulation (EU) 2019/1238 as in force.

47w)

Act No. 129/2022 Coll.

47z)

Regulation (EU) 2019/1238 as in force. Act No. 129/2022 Coll.

48)

§ 39(4) of Act of the National Council of the Slovak Republic No. 566/1992 Coll. as amended.

48a)

For example, § 4(2) of Act No. 203/2011 Coll. as amended.

49)

Act No. 431/2002 Coll. on Accounting as amended.

49a)

§ 81(1)(b) and § 87 of Act No. 492/2009 Coll. as amended.

49aa)

§ 3(4), (6) and (7) of Act No. 431/2002 Coll. as amended.

49ab)

§ 3(3) and (4) of Act No. 431/2002 Coll.

49ac)

Art. 3(3) and (6) of Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No. 596/2014 (OJ L 171, 29. 6. 2016) as in force.

49b)

§ 63, § 79a and 79b of Act No. 492/2009 Coll. as amended.

49ba)

§ 2(b) and § 20(1)(a) of Act No. 129/2010 Coll. as amended.

49bb)

§ 4(a) and § 13(1) of Act No. 186/2009 Coll. as amended.

49bc)

Act No. 186/2009 Coll. as amended.

49bd)

§ 1(1)(c) and § 13 to 17 of Act No. 186/2009 Coll. as amended.

49c)

§ 7(h) of the Code of Administrative Justice.

50)

§ 517(2) of the Civil Code. § 3 of Government Regulation of the Slovak Republic No. 87/1995 Coll., implementing certain provisions of the Civil Code. § 17(1) of Act No. 659/2007 Coll. on the introduction of the euro currency in the Slovak Republic and on the amendment and supplementation of certain acts as amended by Act No. 397/2008 Coll.

51)

For example, Act of the National Council of the Slovak Republic No. 233/1995 Coll. as amended.

51a)

§ 45(2)(i) and (l), § 49 and § 243h(1) of Act of the National Council of the Slovak Republic No. 233/1995 Coll. as amended.

52)

Act No. 514/2003 Coll. on liability for damage caused in the exercise of public authority and on the amendment of certain acts.

52a)

§ 73 of Act of the National Council of the Slovak Republic No. 171/1993 Coll. on the Police Force as amended.

53)

Act No. 96/2002 Coll. on supervision of the financial market and on the amendment and supplementation of certain acts as amended.

54)

§ 2, 3 and § 4(1)(d) of Act No. 514/2003 Coll. as amended by Act No. 508/2010 Coll.

55)

§ 53(2) of Act No. 96/2002 Coll. as amended.

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