THE LAW on retail chains, which should prevent large chains from misusing their economic power in relation to suppliers, is to be revised. The cabinet approved a draft amendment to the law on May 13, which must still pass parliament.
The European Commission has strongly criticised the law in the past, claiming it discriminated against retail chains. After the cabinet meeting, Eva Šimková, state secretary of the Economy Ministry, stated that the current form of the draft revision would be a compromise between the positions of Slovakia and the EU, the news wire SITA wrote.
The draft newly defines the economic power of retail chains. In the original law, business were defined as having economic power in abuse of their market position if their market share exceeded 5 percent or their annual turnover was higher than Sk1.5 billion (€37 million). The current draft no longer uses these numbers to define the power of the chains.
Compiled by Marta Ďurianová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
14. May 2004 at 10:04