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Gov't suspends debate on business bill

The Government has adjourned a debate on the Bill on Inadequate Conditions in Business Relations, which involves the purchase and sales of goods, after the Economy Ministry asked the European Commission for comment on the draft, it was reported later on November 21.

The bill crafted by the economy and agriculture ministries lists conditions deemed inadequate in business relations such as the sales of goods to a final consumer for a price lower than the manufacturing or purchasing price, except in the event of related agreements between suppliers and customers, or the stipulation of a longer period of invoiced payment than 30 days from the delivery of the goods.

Under the bill, supervision of adherence to the law in business relations involving sales of food products will be conducted by the Agriculture Ministry, and in the case of non-food products by the Economy Ministry.

Finding a breach of its provisions, the supervisor will ask the suspected violators for an explanation, and may fine them with penalties ranging from Sk1-10 million (€30,000-300,000). The bill, expected to come into effect as of February 1, 2008, is proposed to be fast-tracked in both Government and Parliament. TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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