An amendement to the Act on Critical Infrastructure established an investment screening mechanism, in force from 1 March 2021. Screening applies to acquisitions in specific industries (Mining, Electricity, Gas, Oil and petroleum products; Pharmaceutical industry, Metallurgical industry, Chemical industry), regardless of the nationality of the acquirer. The transaction can be prohibited if it is found to compromise public order or national security. Additionally, the amendment introduced a general obligation to notify transactions related to "critical infrastructure elements". The notification obligation applies to all industries covered by the Act.
"§ 1 Subject of the law
This law provides
a) the organization and competence of state administration bodies in the area of ​​critical infrastructure,
b) the procedure for determining the critical infrastructure element,
c) the responsibilities of the operator in protecting the critical infrastructure element and the liability for breaches of those obligations.
[...]
§ 9 Obligations of the operator [...]
The operator is obliged to notify the competent central authority without delay
a) a change in the subject of the activity which may affect the identification of the element and its classification in the sector,
b) the transfer or transfer of an element to another, including the sale of an enterprise or part of an enterprise, as well as changes in persons who have a direct or indirect interest in the operator in excess of 10% of its share capital or voting rights or have the power to exercise control over the operator, which is comparable to the effect corresponding to this share (hereinafter referred to as the "acquirer"),
c) entry into liquidation, commencement of insolvency proceedings, restructuring proceedings or other similar proceedings, execution or other similar enforcement proceedings, as well as commencement of the exercise of a lien or other similar right in relation to the operator or his property, whether or not: proceedings for which the authorities of the Slovak Republic are competent.
[...]
§9a - Special arrangement for elements from sectors within the competence of the Ministry of Economy of the Slovak Republic
The provisions of §9b to §9e apply to elements from sectors 3. Energy and 5. Industry according to Annex no. 3 .
§9b
(1) The Central Authority may examine whether the direct or indirect transfer or transfer of an element to another, regardless of whether the legislation of the Slovak Republic applies, does not disturb the public order or national security of the Slovak Republic, another Member State of the European Union or the interests of the European Union.
(2) Indirect transfer of an element means a change in persons who have a direct or indirect participation in the operator in excess of 10% of its share capital or voting rights, or have the option of exercising an influence on the management of the operator comparable to that corresponding to that share.
(3) The operator, lien creditor, liquidator, administrator of the bankruptcy estate, executor or other person authorized to transfer the element, or the one who is to acquire the element (hereinafter referred to as "applicant"), is in cases under § 9 para. 2 letter (c) be required to request the review of such a transfer in advance. A request for review (hereinafter referred to as "the request") shall be made in writing to the Central Authority.
(4) Exercise of rights and obligations arising from the concentration pursuant to a special regulation on the protection of competition, in so far as it relates to an element or part thereof, shall be prohibited during the review pursuant to paragraphs 1 and 3.
(5) The Central Authority shall examine the notification of the acquirer or the application and carry out an investigation into the breach of public order or national security of the Slovak Republic, another Member State or the interests of the European Union. For this purpose, the acquirer, the applicant and other public authorities are obliged to cooperate with the Central Authority for the examination of the application and the investigation.
(6) In the case of the procedure under paragraphs 1, 3 and 5, the Central Authority shall, within 60 days of receipt of the notification by the acquirer or the request, notify the result of the examination. If the Central Authority assesses that the transfer or transfer of an element endangers the public order or national security of the Slovak Republic, another Member State of the European Union, or the interests of the European Union, it shall propose to the Government to refuse consent to the transfer or transfer. The provisions of paragraph 4 shall apply mutatis mutandis pending a decision by the Government.
(7) The draft government decision prepared by the central authority contains in particular:
a) a draft decision of the government in the main proceedings, including a possible draft of the condition, as well as obligations related to the condition, in particular to control, ensure its fulfillment and to achieve its purpose,
b) risk analysis from the point of view of public order and national security,
c) evaluation of favorable or unfavorable effects from the transfer of the element for the Slovak Republic,
d) instruction on appeal.
(8) The Security Council of the Slovak Republic submits an opinion to the Government on the draft decision of the Government pursuant to paragraph 7.
(9) The Government shall grant consent or consent to the transfer of a condition if in relation to the transfer or transfer of the element for the Slovak Republic the beneficial effects outweigh the risks in terms of public order and national security, or the condition imposed in the decision ensures that the beneficial effects prevail.
(10) If the government refuses to consent to the transfer, the exercise of rights and obligations arising from such transfer is prohibited. If the government agrees to the condition, the applicant or acquirer is not entitled to exercise the rights and obligations under the transfer under consideration until such condition is met. He is obliged to immediately notify the Central Authority of the fulfillment of the condition.
(11) The Central Authority may, notwithstanding the outcome of the review under paragraphs 1 and 3, if it has a reasonable suspicion that the transfer may violate the public policy or national security of the Slovak Republic, another Member State or the interests of the European Union, paragraph 6, the Government for consent to the transfer or transfer of an element under paragraphs 2 or 3.
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Annex no. 3 to Act no. 45/2011 Coll.
SECTORS UNDER CENTRAL AUTHORITIES [...]
Sector: 3. Energy 
Subsector: Mining, Electricity, Gas, Oil and petroleum products 
Central Authority: Ministry of Economy of the Slovak Republic
[...]
Sector: 5. Industry 
Subsector: Pharmaceutical industry, Metallurgical industry, Chemical industry 
Central Authority: Ministry of Economy of the Slovak Republic [...]" (Act on Critical Infrastructure (45/2011 Coll.), as amended by Act no. 72/2021 Coll. of 5 February 2021 (in force from 01.03.2021), Articles 1, 9, 9a, 9b and Annex no. 3 [google translation])
Act on Critical Infrastructure (45/2011 Coll.), as amended by Act no. 72/2021 Coll. of 5 February 2021 (in force from 01.03.2021), Articles 1, 9, 9a, 9b and Annex no. 3
[<a href="https://www.slov-lex.sk/pravne-predpisy/SK/ZZ/2021/72/20210301">Act</a>],[<a href="https://foreigninvestment.bakermckenzie.com/2021/04/13/slovakia-introduces-new-foreign-investment-screening-regime/">Other</a>],[<a href="https://www.schoenherr.eu/content/new-investment-screening-mechanism-in-slovakia/">Other</a>]