248 results found

Our expert outlines several changes to Act No. 431/2002 which come into effect in three stages; as of 1 July 2015, 1 January 2016 and then major changes to commence on 1 January 2017.

An amendment to the Banking Act came into force on January 1 2005. The amendment focuses on transborder banking business and multinational banking holdings, and implements the Directive on the Implementation of Article 67 of the Treaty (88/361/EEC). It introduces a system of consolidated banking supervision and defines, among other things, the terms 'banking consolidated group', 'financial consolidated group' and 'mixed consolidated group'. The amendment also sets out new

As of January 1, 2012, the Slovak Act on Bankruptcy and Restructuring (Act No. 7/2005 Coll.) has been amended to introduce a statutory subordination of claims of related creditors (Section 95(3) of the Slovak Bankruptcy Act).

The fight against global climate change reached the next level this February when the Kyoto Protocol came into effect. Under the international treaty, the European community agreed to cut its greenhouse gas (GHG) emissions by 8 percent below its 1990 levels starting in 2008. One of the elements of the EU's combat strategy in this environmental effort is emissions trading.