The basic obligation of a public sector partner is to register in the register maintained by the Ministry of Justice of the Slovak Republic, at least for the entire duration of the legal relationship from which it receives public funds. Furthermore, it is obliged to provide the authorized person with the necessary cooperation, in particular to provide it with correct, up-to-date and accurate information for entry in the register of public sector partners, and to report any changes that may affect the accuracy and validity of the information entered in the register, as it is jointly responsible with the authorized person for the accuracy of the information entered in the register.
How to register in the register of public sector partners?
Only an authorized person may register in the register, which, according to the Act on the Register of Public Sector Partners, may only be a lawyer, notary, bank, branch of a foreign bank, auditor, or tax advisor with its registered office or place of business in the Slovak Republic. The authorized person is responsible for the correct identification of the ultimate beneficiaries of the public sector partner, which must be verified at regular intervals or in cases specified by law. The authorized person is also jointly responsible for the accuracy and timeliness of the data entered in the register and also ensures all communication with the registering authority, which is the District Court in Žilina. A public sector partner may have only one authorized person, and their mutual relationship shall be defined in a separate written agreement, which must contain the details required by the Act on the Register of Public Sector Partners.
What is the procedure for registration in the register of public sector partners and what are the other obligations related to registration in the register?
First, you need to contact the authorized person who will arrange the registration for you. For the purposes of proper identification of the ultimate beneficiary, it is necessary to provide the authorized person with the necessary information and documents requested by the authorized person. The identification of the ultimate beneficiary is proven by the authorized person with a verification document. All other necessary steps for registration in the register will be taken by the authorized person. However, the identification of the ultimate beneficial owners is not a one-time matter, and the authorized person is required to perform the identification in cases specified by law, but at least once a year by December 31 of the calendar year.
The authorized person thus becomes your long-term partner, so it is important to consider their expertise and experience when selecting an authorized person. The law firm Hronček & Partners, s. r. o. is fully prepared to provide you with professional services and expert advice and consultation.
No court or administrative fees are payable for the first entry in the register of public sector partners, for the entry of any changes or for deletion from the register. The registration authority will enter the registration in the register within five working days, provided that all formal requirements have been met and all mandatory attachments have been submitted. During the transitional period from February 1, 2017 to July 31, 2017, the deadline for registration in the register is extended to 10 days.
Author: Hronček & Partners, s. r. o. (www.partnerverejnehosektora.sk)
