Legal regulation of transformation of business companies

Abstract

Due to the membership of the Slovak Republic in the European Union, it is necessary to implement the requirements and legal regulations of the European Union into the legal regulations of the Slovak Republic. Based on the provisions of Directive (EU) 2019/2121 of the European Parliament and of the Council regarding cross-border transformations, mergers and divisions of companies, the Government of the Slovak Republic approved the Law on Transformations of Business Companies. The aim of the Act on Transformations of Business Companies was to create a uniform and transparent legal regulation regarding the merger and division of companies, change of legal form and their cross-border alternatives. The Act on the Transformation of Business Companies introduces new terminology, and in view of this, the aim of the paper is to point out the changes regarding the legal regulation of the dissolution of a business company without liquidation, which are carried out by business companies not only within the Slovak Republic, but also within the individual countries of the European Union in the so-called cross-border transactions.