Cash Law – Changes in Legal Regulations
As of 1st of July, 2023, an amendment to the Constitution of the Slovak Republic entered into force, incorporating Article 39a into the Constitution of the Slovak Republic, which regulates the right to cash.
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The law on class action lawsuits for the protection of collective consumer interests has been adopted in Slovakia
A law on collective consumer interest protection lawsuits has been adopted. It came into effect on 25th of July 2023.
What is KYC?
KYC represents the acronym for the English phrase "know your customer," which translates to "poznaj svojho klienta" in Slovak.
Notary as a registrar in the Commercial Register, an attorney can be an authorized representative
Due to the change in legislation, registrations into the Commercial Register will also be possible to be conducted by notaries. Attorneys will be allowed to be authorized in the registration proceedings.
What is GDPR?
GDPR is an EU regulation governing data protection. GDPR stands for General Data Protection Regulation. The Slovak equivalent is Všeobecné nariadenie na ochranu osobných údajov.
What is AML?
AML stands for anti-money laundering. In practice, it is most commonly understood as a set of rules aimed at preventing money laundering (of illicit funds).
Change in the lease of land by the Slovak Land Fund
The change in land leasing by the Slovak Land Fund results from the amendment to Act No. 504/2003 Coll. on the Lease of Agricultural Land, effective from 1st of July, 2023.
Time limit for court preceeding costs
The deadline for issuing a resolution on the reimbursement of costs was absent in the legal framework since the recodification of civil procedure. The amendment to the Civil Procedure Code established a deadline of 60 days from the date of the final decision that concludes the proceedings.
What is the burden of proof?
The burden of proof refers to the procedural responsibility of a party in the proceedings to substantiate their claims. If they fail to provide evidence for their assertions, the decision must be made on the merits of the case against them.
Data Protection Guide
The Data Protection Guide is a resource for small and medium-sized enterprises launched by the European Data Protection Board (EDPB).