Legal
29 September 2021

Consistency of commercial register data will take place (also) automatically and free of charge

Draft amendment to the Act on the Commercial Register should simplify the process of adding identification data to the Commercial Register.

Milina Schifferdeckerová
Martin Oross

According to the valid Act on the Commercial Register, no later than 30 September 2022 the statutory representatives of the entities registered into the Commercial Register are obliged to enter in the relevant Commercial Register required identification data on:

- shareholders;

- statutory bodies or members of statutory bodies;

- heads of organizational units of companies;

- proxies;

- members of the supervisory bodies;

- liquidators;

- administrators to enforce receivership administration and their deputies;

- heads of enterprises or organizational units of enterprises of foreign legal entities.

It also applies that if the next application for registration of a change with the Commercial Register filed after September 30, 2021 does not contain a request for the registration of such required data (for example, the entrepreneur would propose to register only the change of the company's registered seat), the registry court will not take such filing into account.

To simplify the process, the Ministry of Justice of the Slovak Republic came up with a legislative initiative in July 2021 and submitted an amendment to the Commercial Register Act (and the Act on Court Fees) to the National Council of the Slovak Republic.

According to the submitted draft amendment to the Commercial Register Act, the Ministry of Justice, as the administrator of the Commercial Register information system in cooperation with the Registry Court, will perform automated completion of required identification data and their logical assignment to the same subject of records in the reference register (the “automated completion of identification data”).

Automated completion of identification data will not be possible for every entrepreneur. Therefore, according to the draft amendment to the Commercial Register Act, the Registry Court shall send without undue delay to the entrepreneur's electronic mailbox a notification on Automated Completion of Identification Data together with an extract from the Commercial Register. If the registry court does not send this notification by 31 May 2022, it is assumed that the Automated Completion of Identification Data could not have been performed, and the entrepreneur will have to ensure the harmonization himself - by filing a proposal to the registry court.

If the draft amendment to the Commercial Register Act (and the Act on Court Fees) is approved, this proceeding will be exempt from the judicial fee.

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