Decree on Property Value Determination

Decree of the Ministry of Justice of the Slovak Republic No. 86/2002 Coll. on Common Property Value Determination

This decree implements provisions of Sec. 21 para. 6 of the Act No. 36/1967 Coll. on Authorised Experts and Certified Translators, as amended, and stipulates methods and practices of common property value determination.

This decree is also used in the case it is necessary to determine the common property value upon the request of state authority within its competence or if a legal act under a special regulation is concerned.

The above decree strictly defines terms such as the ``property'', ``enterprise'', ``part of enterprise'' or ``component of an enterprise`s property''. The decree defines property as a property of enterprise as a whole, a part of enterprise, component of an enterprise`s property or property other than a property of enterprise.

For the purpose of this decree, the enterprise means things, rights and other asset values belonging to the entrepreneur and used for the operation of the enterprise or which should be used for this purpose due to their nature.

Furthermore, this decree defines basic procedures of determination of common enterprise value and value of a part thereof, intangible investment property, real property and buildings, machinery, hardware devices, railway vehicles, watercrafts and aircrafts, electrotechnical facilities, as well as procedures for calculation of ground vehicles` common value.

Exact procedures of determination of common value of financial investments, stocks, receivables, financial property, other property, foreign liabilities, as well as influence of the activity of an enterprise to the environment are defined by this decree as well.

This decree is used by institutions and other authorities registered in the list kept by the Ministry of Justice of the Slovak Republic for the expert area of business economics as far as the determination of common value of enterprise`s property, its parts and other property is concerned. This decree is also used by experts from all expert areas entitled to evaluate the respective components of the enterprise`s property and other property.

This Decree is in force from 1 March 2002.

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