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President signs an amendment to the Law on Transfer of Assets

Before departing for a state visit to the United States on October 7, President Ivan Gašparovič signed into law an amendment on transfer of state assets to municipalities or counties.

Before departing for a state visit to the United States on October 7, President Ivan Gašparovič signed into law an amendment on transfer of state assets to municipalities or counties.

Based on the new rules, it will only be possible to sell superfluous state immovable assets in a special bidding process. If no bid reaches the so-called "appropriate" price, the proceedings can be repeated twice. The price can then be reduced by 70 percent at most. Municipalities and counties will only be able to receive the property if no one buys it at this minimum price.

The revision was submitted by ruling coalition deputies Rudolf Pučík from the SNS and Jan Kovarčík from the HZDS. SITA

Compiled by Zuzana Vilikovská from press reports
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