EVALUATION OF THE THIRD YEAR OF EXISTENCE OF SLOVAK CAPITAL MARKET.
December 31, 1995 marked the end of the third year of existence of the capital market which was highly influenced by approvals of amendments of acts regulating it (Security Act, Act on Investment Companies and Funds, Act on Voucher Privatization).
As a consequence of an effort of the state administration to control capital markets there is limitation of activities. The most acceptable are those acts which make the capital market more transparent and trustworthy.
NEW FEES OF THE BRATISLAVA STOCK EXCHANGE
The Bratislava Stock Exchange introduced new fees valid from January 1, 1996 as follows:
- fee for listing securities 50,000 Sk
- yearly fee for listing securities 0.02% of the value of securities listed, with a maximum 150,000 Sk
- fee for acceptance as a regular member of the stock exchange 1,000,000 Sk
- yearly fee for regular members 160,000 Sk
- yearly fee for temporary members of the stock exchange 280,000 Sk
- fee for conclusion of a contract 0.05%, maximum 2,000 Sk
- fee for conclusion of direct or repo contracts 0.3%, maximum 3,000 Sk
"GOLDEN SHARES" IN STRATEGIC COMPANIES UNTIL THE END OF THE MAY
According to law on strategic state interests in privatization of state-run companies with strategic importance rules for using so called "golden shares" should be approved by the general meetings of these companies.
A "golden share" will be used to enforce strategic interests of the State.
The above mentioned law is valid already from September last year but transfers of securities from the State Property Fund to the Ministry of Economy are still not completed; they should be completed by the end of May.
The content of this article is intended to provide a general guide to the subject matter. It is therefore not a substitute for specialist advice.
For further information contact Richard Fletcher, Arthur Andersen, Prague, Tel +42 2 2440 1300, or enter a text search 'Arthur Andersen' and 'Business Monitor'.
