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(Act No. 259/2001 Coll. on Railway Company and Amending and Supplementing the Act of the National Council of the Slovak Republic No. 258/1993 Coll. on Railways of the Slovak Republic)
This Act stipulates conditions for transformation and restructuring process of Railways of the Slovak Republic (the ``Railways'') to a business company - the Railway company (the ``Railway Company'') which is established for purposes of performing transport and business activities.
The state, acting through the Ministry of Transport, Post and Telecommunications (the ``Ministry'') is a founder of the Railway Company. For foundation of the Railway Company assets, which is to be taken out of assets of the Railways by the Ministry, will be used.
A transfer of state participation in the Railway Company is governed by regulations governing conditions for the transfer of state property to other persons (Act No. 92/1991 Coll., as amended). The permanent participation of the state in the Railway Company is to be at least 51% and this participation has to be maintained in the course of privatisation of the state participation in the Railway Company.
This Act is in force from 1 August 2001.
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