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A bank is defined as a legal entity with its registered seat in the territory of the Slovak Republic established as a joint-stock company, which
- (a)
- accepts deposits and
- (b)
- grants loans,
and to which a banking license for performance of the activities under lett. (a) and (b) has been granted.
The Act expressly stipulates that a bank cannot have other legal form than a form of joint stock company. In the interest of transparency of ownership relationships in the bank, the new Banking Act clearly stipulates that a bank may issue shares only as book-entered registered (au nom) securities, whereas a change of their face or form is expressly prohibited.
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