The amendment replaces the former two bank licences required for a company to perform banking activities, ie. "permission to establish a bank" and "permission to perform banking activities" with "permission to operate as a bank".
The amendment prohibits any company from receiving deposits and paying interest without this "permission".
The amendment is effective from 21 February 1998.
The information in this newsletter is correct to the best of our knowledge and belief at the time of going to press. Specific advice should be sought, however, before investment and other decisions are made.
For further information contact Mr Frank Walsh on +421 7 5340 545 Email directly on Click Contact Link
