Act No. 486 
of 8 December 2010 
amending Act No. 431/2002 Coll. on accounting as amended

The National Council of the Slovak Republic has adopted the following Act:

Article I
Act No. 431/2002 Coll. on accounting as amended by Act No. 562/2003 Z. z., Act No. 561/2004 Coll., Act No. 518/2005 Coll., Act No. 688/2006 Coll., Act No. 198/2007 Coll., Act No. 540/2007 Coll., Act No. 621/2007 Coll., Act No. 378/2008 Coll., Act No. 465/2008 Coll., Act No. 567/2008 Coll., Act No. 61/2009 Coll., Act No. 492/2009 Coll. a Act No.  504/2009 Coll. is hereby amended as follows:

1. In Article 22, paragraph 9, letter a) through c), the words “and the European Communities” are deleted.

2. In Article 22, new paragraph 12 is inserted after paragraph 11 and reads as follows:
“(12) The obligation to prepare consolidated financial statements and a consolidated annual report shall not apply to a parent accounting entity if the preparation solely of individual financial statements of the parent accounting entity has no substantial impact on the view of the financial situation, costs, revenues and profit/loss for the consolidated group; the provisions of paragraph 10 and 11 shall not apply in that case.”.
The existing paragraphs 12 through 16 are renumbered to paragraphs 13 through 17.

3. In Article 22, paragraph 17, the numeral “15” is replaced with the numeral “16”.

4. In Article 39c, the words “legislation of the European Communities and” are replaced with the words “legally binding acts of”.

5. New Article 39h is inserted after Article 39g and reads as follows, including the title:

“Article 39h 
Transitional provision concerning amendments effective as of 31 December 2010
 
The provision of Article 22, paragraph 12, applicable as of 31 December 2010, shall for the first time be applied to assessing the obligation to prepare consolidated financial statements and a consolidated annual report compiled as at 31 December 2010 and onwards.”.

6. In the annex, the words “legislation of the European Communities and” are replaced with the words “legally binding acts of”.

7. In the annex, paragraph 8 is added and reads as follows:
“8. Directive 2009/49/EC of the European Parliament and of the Council of 18 June 2009 amending Council Directives 78/660/EEC and 83/349/EEC as regards certain disclosure requirements for medium-sized companies and the obligation to draw up consolidated accounts (OJ L 164, 26.6.2009).”.

Article II
This Act comes into effect on 31 December 2010. 

Ivan Gašparovič
Richard Sulík
Iveta Radičová