ARTICLES OF ASSOCIATION OF THE NATIONAL UNION OF EMPLOYERS

Article I
Name, Seat and Legal Status of the Association

1. The name of the association is: National Union of Employers.
2. The association’s registered seat is in Bratislava, Jašíkova ul. No. 2, ZIP Code: 821 03.
3. The National Union of Employers (hereinafter referred to as the "Union") is an organization of employers established under the Article 9 point a) of the Act No. 83/1990 Coll. on citizen association as amended (hereinafter referred to as the "Act No. 83/1990 Coll.").

Article II
Scope of Powers and Goals of the Union

1. The Union performs the activity within the area of the Slovak Republic based on principles of voluntariness, freedom of opinion and manifestation and political affiliation freedom.
2. The basic goal of the Union is to protect common employers´ interests of its members, protect its members against restriction of their business rights and freedoms and against measures leading the degradation of the equal market business environment.
3. In accordance with the fulfilment of the relevant goal the Union mainly:
   a) analyses and evaluates the legislative conditions of doing business with the emphasis on the practical knowledge of its members;
   b) co-ordinates proceedings of its members and actively participates in establishment  and implementation of the state’s economic and social policy and in preparation and creation of legal enactments regarding important common employers´ interests, mainly in labour, social, tax and wage and law enforcement area;
   c) participates in the legislative procedure, mainly in the system of submitting of proposals, establishment and approval of legal enactments in the way that these would respect common interests of its members;
   d) gains  the most widespread support for enforcement of common goals of its members by the systematic contact with individual famous personalities of the sociable, economic and political world, actively co-operates with the state bodies and with the bodies of the regional governments,  representative associations of labour unions and  media;
   e) co-operates with other organizations representing local and foreign entrepreneurs and employers and with commercial and industry chambers;
   f) represents the interests of its members as employers in tripartite bodies, in public institutions, in bodies membership of which is based on the tripartite representation as well as in international organizations of entrepreneurs and employers.
4. The Union is not entitled to enforce attitudes on which the substantial majority of its members has not been concurred.

Article III
Membership of the Union

1. The membership can be individual or collective.
2. Any subject may become a member of the Union and his/her membership shall be approved based on the written application; as an annex to such written application is the approval with the Union’s Articles of Association, if it refers to:
   a)  an entrepreneur  who employs at least 20 employees,
   b)  an organisation of employers or an union of employers which was established under the Act No. 83/1990 Coll. and of which members are at least five employers who are at the same time also entrepreneurs (hereinafter referred to as the “Union”),
   c) an organisation which associates unions mentioned above (hereinafter referred to as the “association of unions”), and
   if any of the above mentioned entities accepted the Union’s Articles of Association in writing. As to refer to as the members listed in the point a), the individual membership is concerned and in case of members listed in the point b) and c), the collective membership is concerned.
   The Presidium shall decide on the admission of any member. There is no claim for admission for any interested person.
3. For origination of the membership it is required that the part of the approval with the Articles of Association is also information about a number of the member’s employees to the 31st December of the calendar year which precedes the year in which his membership was originated.
4. For origination of the collective membership under the par. 2 point b) it is required that the part of the approval with the Articles of Association forms also a list of employers – members of the Union who are represented by the union if the Union (hereinafter referred to as the “list”); the part of such list is also an information about a number of the member’s employees of relevant union’s members to the 31st December of the calendar year which precedes the year in which its membership was originated.
5. In case the employer is a member of several unions which are also being the members of the Union, only one union may represent him/her towards to the Union – that is the union which enlists such an employer into the list. If the relevant employer appears in the lists of several unions, he is obliged to identify which union shall represent him; if he does not fulfil such obligation within the relevant time period it shall be considered as none of unions represents him towards the Union. Any union which is a member of the Union is not allowed to represent any employer who is an individual member of the Union towards the Union.
6. Paragraphs 4 and 5 shall accordingly apply to the collective membership under the par. 2 point c).
7. The approval with the Union’s Articles of Association must be delivered to the Secretariat.
8. The membership in the Union is voluntary. None may be forced to the membership in the Union. Any member can willingly absent from the Union. The Union’s right to exclude the member from the Union based on the reasons listed in this Articles of Association shall not be affected by this.
9. Members of the Union are enlisted in the list of members which is kept by the Secretariat.
10. Annual membership fee of the member is SKK 20 for each employee employed to the 31st December of the precedent year
    a) by the employer – the individual member,
    b) by all employers who are being represented by the relevant union or association of union as a collective member towards the Union; but at least SKK 50 000 in case of the individual member and SKK 100 000 in case of the collective member. The cap of the annual membership fee per one member is SKK 1 250 000.
11. If the membership originates in first half of the   calendar year the member is obliged to pay for the first year the annual membership fee in the full amount but if the membership originates in the second half year of the calendar year the member is obliged to pay for the first year the annual membership fee in the half amount.
12. The annual membership fee shall be transferred to the Union bank account and is matured in one-off always to the 31st March of the relevant year. In case the membership originates during the calendar year the membership fee is matured within 30 days from the origination of the membership. The member shall prove the correctness of the annual membership fee enumeration to the Secretariat in the way and time periods assigned by the Presidium. In case any of the member requests from serious reasons for delay with payment of the membership fee, the Presidium may, based on his written demand, permit payment of the membership fee in a different way.
13. The Presidium may, based on the member’s demand, decrease the annual membership fee due the reason of the substantial change of the number of his/her employees listed in the paragraph 10 with the maturity for the individual calendar year. Details about payments of the annual membership fee and conditions of its reduction shall be set up by the membership fee payment regulation approved by the Presidium.
14. If the member fails to fulfil his/her obligation to pay the annual membership fee duly and in time, the Union shall file against him a claim to pay default interests in the amount of 10% p.a. of the outstanding amount. If the member fails to pay his annual membership fee or its part for more than 90 days he is not entitled to perform his rights of the Union member under these Articles of Association. In case the member fails to pay his annual membership fee or its part for more than 90 days the Presidium may also decide about his/her exclusion from the Union.
15. The Union membership shall terminate
     a) by resigning from the Union, the membership shall terminate on the day of delivery of the written notification on resigning to the Secretariat;
     b) by death or by the termination of the member without legal successor;
     c) by exclusion for not paying of the annual membership fee or for any other serious breach of the Articles of Association or internal rules of the Union issued in accordance with these Articles of Association or for waste of Union interests; the Presidium shall decide on member’s exclusion,
     d) if the member ceases to fulfil conditions listed in the paragraph 2.,
     e) by termination of the Union without any legal successor.
16. An appeal against a decision on exclusion of the member from the Union may be filed. The General Assembly shall decide on the appeal which has a suspensive effect.
17. By termination of the Union membership the member is obliged to settle up all his liabilities towards the Union. By termination of the membership the paid membership fee is not payable back. Person whose Union membership is terminated other than result of the termination of the Union without legal successor has no claim to any share of the Union property.

Article IV
Members´ Rights and Obligations

1. Every member of the Union has the right to:
   a) appoint or propose and elect deputies of the Assembly;
   b) propose candidates to bodies and elective offices of the Union;
   c) require explanations from all Union bodies regarding their activities;
   d) annotate c the activities of the Union bodies and to work of relevant members of its bodies ;
   e) participate in the activity of the Union and take part in events organized for Union members.
2. Each member of the Union is obliged to:
   a) follow this Articles of Association as well as all internal rules of the Union issued in accordance with such Articles of Association; any person interested in membership in the Union is obliged to acquaint with these Articles of Association and all internal rules of the Union which are bounded for him prior to origination of the membership;
   b) not to jeopardize  Union interests wittingly;
   c) facilitate the fulfilment of goals and work up the Union activities;
   d) notify the Union on all his/her personal data changes  which are necessary for the evidence of members and payments of membership fees.
3. Each member is obliged during the duration of his membership in the Union to conduct in the way not to discredit good name and goodwill of the Union and in the way that with his/her behaving or activity does not betray the mission and goals to which he has by his membership applied for and to fulfilment of which he shall be helpful.

Article V
Union Bodies

1. The Union Bodies are:
   a) General Assembly;
   b) Election Meeting ,
   c) Presidium,
   d) Supervisory Board,
   e) Executive Secretary and Secretariat,
   f) Committees, if established.

Article VI
The General Assembly and Its Scope of Powers

1. The General Assembly is the supreme body of the Union which consists of all present deputies. The General Assembly decides by voting. Within the exclusive scope of powers of the General Assembly falls:
   a) approval of changes and amendments to the Articles of Association,
   b) approval of the General Assembly standing order,
   c) approval of the electoral system for electing of members of the Presidium and Supervisory Board,
   d) election and recall of members of the Presidium,
   e) election and recall of members of the Supervisory Board,
   f) approval of the ordinary and extraordinary closings of books,
   g) decision on voluntary dissolution of the Union or on its merger with other union,
   h) approval of the budget of the Union and of the Union activity plan submitting by the Presidium,
   i) approval of reports about Union activity and Union bodies and about a balance of its property,
   j) decision about other questions which are reserved.
2. The deputy performs his voting rights at the General Assembly personally and he is not entitled to be substituted by the third person. Members of the Presidium, Supervisory Board and Executive Secretary participate in the General Assembly. The General Assembly may decide on attendance of also other persons at its discussions.
3. Each deputy shall have only one vote.
4. The General Assembly shall be convened by the Presidium. The Presidium shall call the General Assembly at least once in a calendar year. Upon request of members who have paid at least quarter of full amount of paid membership fees or upon request of the Supervisory Board the Presidium is obliged to convene an Extraordinary General Assembly; the Extraordinary General Assembly shall be held within 60 days from requesting at the latest.
5. The Presidium shall call the General Assembly in writing, by delivering of the written invitation to each de. The invitation shall include a notice that the General Assembly has been called, information on a date, place and the hour of the General Assembly and agenda of the General Assembly. The invitation shall be delivered to the relevant deputy at least 7 days before holding of the General Assembly.
6. The General Assembly shall form a quorum if an absolute majority of all deputies is attendant. For a validity of a decision it is necessary a single majority of attended deputies. Decisions regarding the matter listed in the par. 1 point g) shall require at least a two-thirds majority of the votes of deputy present and a notarised deed.
7. The Presidium shall stipulate an agenda of the General Assembly in accordance with the paragraph 1. The agenda listed in the invitation may be changed or amended also instantly at the General Assembly proceeding. Any deputy may file proposal to such changes or amendments.
8. Deputies participating in the General Assembly shall sign the register of attendance which shall contain identification data about the deputy.
9. If the General Assembly does not constitute a quorum, the Presidium shall convene a substitute General Assembly’s proceeding that it is held within 21 days from the day on which the originally convened General Assembly should have taken place. The substitute General Assembly’s proceeding shall be convened with the same agenda and shall constitute a quorum regardless the number of present deputies.

Article VII
General Assembly Proceedings

1. General Assembly’s proceeding shall be opened and chaired by the President or by other member of the Presidium authorised by the Presidium (hereinafter referred to as the “Chairman”). The General Assembly shall elect a minute’s clerk, two verifies of the minutes and persons to count the votes cast.
2. At the General Assembly’s proceedings deputies shall act in the order in which they have applied for a speech. The General Assembly may adopt a resolution on a speech time but not shorter than five minutes. The Chairman may rule the deputy out of order if he is departing from the subject of the proceeding.
3. Each deputy has the right to use a factual reflection by which he responds to the General Assembly’s proceeding process.
4. The Chairman has the right to terminate General Assembly’s proceeding about an individual event only if all deputies who have applied for a speech were acting. At the end of the proceeding about the relevant event the Chairman shall submit for approving a proposal of decision(s) which has/have raised from General Assembly’s proceeding on such event.
5. The Chairman shall conduct voting. The voting shall be public. After finishing of the voting the Chairman shall take a verdict of it. It is possible to vote on questions in respect of the procedural nature by an acclamation if all deputies agree.
6. Details of the General Assembly’s proceedings shall be regulated by the General Assembly’s proceedings order.
7. Minutes from each General Assembly’s proceeding shall be executed and signed by the Chairmen, the minute’s clerk and verifiers.
8. The Minutes of the General Assembly’s proceeding shall contain:
   a) the name and seat of the Union,
   b) place and hour of General Assembly’s proceeding taking place,
   c) name of the Chairman, minutes clerk, verifiers and persons to count the votes cast,
   d) individual events of the proceeding’s agenda,
   e) General Assembly’s proceeding decisions with information on the result of voting and election (including notification about bodies and identification data about elected members of such bodies).

Article VIII
Establishment and Election of Deputies and Election Meeting

1. Individual and collective members shall appoint deputies of the General Assembly. A number of deputies for each member shall be designed in dependence on the amount of his last annual membership fee. In case, the member has outstanding payments on the annual membership fee at the moment of convocation of the General Assembly, the designation of a number of deputies of this member shall arise from the last annual membership fee decreased by such outstanding payments. A key for designation of a number of deputies shall be settled by the Presidium.
2. The Member shall appoint deputies of the General Assembly according to the given clue and deliver a list of appointed deputies to the Secretariat in the stated time period. Only a natural person, 18 years old, fully competent to perform legal acts, may become a deputy. A time period for delivery of the list of appointed deputies shall be settled by the Secretariat that members should have at least 14 days for appointing of deputies.
3. Members who according to the given clue could not appoint any deputy of the General Assembly (hereinafter referred to as the “minority member”) are entitled to attend at the Election Meeting.
4. The Election Meeting shall be convened by the Presidium with purpose of election of deputies by minority members. Number of General Assembly’s deputies elected by the Election Meeting shall be determined under the key listed in paragraph 1 – from total amount of last annual membership fees of all minority members.
5. The Presidium shall call the Election Meeting in writing, by delivering of the written invitation to each minority member. The invitation shall include a notice that the Election Meeting has been called, information on a date, place and the hour of the Election Meeting. The invitation shall be delivered to the relevant deputy at least 14 days before holding of the Election Meeting.
6. The Election Meeting shall form a quorum regardless the number of present minority members. For a validity of a decision it is necessary a votes majority of attended minority members. The minority member shall have at the Election Meeting one vote for each SKK 20 of his last annual membership fee.
7. Minority members present at the Election Meeting shall sign the register of attendance which shall contain identification data about the minority member and about number of his votes.
8. Details of the Election Meeting’s proceedings shall be regulated by the Election Meeting’s rules of procedure and details of the deputy’s elections shall be regulated by the Election Meeting’s rules of election. The Election Meeting is entitled to decide about change of its rules of procedure and rules of election approved by the Presidium.

Article IX
Presidium

1. Presidium is a statutory and executive body of the Union. The Presidium is entitled to act on behalf of the Union in all matters and represents the Union towards third persons, courts and other administrative bodies. In matters listed in the Article X par. 10 the presidium is entitled to act only with previous approval of the Supervisory Board.
2. The Presidium shall manage the Union activity and shall decide about all Union matters unless they are not stipulated by legal enactments or by these Articles of Association within the scope of powers of other Union bodies. The Presidium shall follow the General Assembly’s decisions unless they are in accordance with legal enactments and these Articles of Association and shall pursue duly and on time their fulfilment. The Presidium besides matters mention above shall mainly:
   a) convene the General Assembly, propose its agenda and prepare materials submitted at its proceedings including a plan of the Union activity, present to the General Assembly information about its activity and the Union activity,
   b) decide about an affiliation of any member,
   c) prepare an Union estimate and approve Union management rules,
   d) establish standing, provisional, technical and distress committees of the Union and determine their functions and approve their statues, appoint and recall chairmen of these committees and their other members; the Presidium is entitled to transfer to committees which are established by the Presidium part of its competences;
   e) approve its rules of procedure,
   f) approve rules of procedure and rules of election of the Election Meeting,
   g) appoint and recall the Executive Secretary and approve composition and number of other workers of the Secretariat,
   h) based on the Supervisory Board proposal approve rules of arbitral,
   i) approve organization regulations, directives, rules and other internal acts of the Union,
   j) perform all other activities they are not stipulated by legal enactments or by these Articles of Association within the scope of powers of other Union body,
   k) be liable for management with Union funds.
3. The Presidium shall submit to the General Assembly for approval the Ordinary and Extraordinary accounting books. The Presidium shall submit to the General Assembly report on the Union activity and on the state of its property. The Presidium shall also inform the Supervisory Board without undue delay about all matters which may substantially influence the Union activity and the state of its property.
4. Only 18 years old natural person, fully competent to perform legal acts and personal integrity may become a member of the Presidium.
5. The Presidium shall have 15 up to 25 members. The member of the Presidium may not hold the office of the member of the Supervisory Board not the member of the Executive Secretary. The General Assembly shall appoint and recall members of the Presidium.
6. Term of office of members of the Presidium shall be 2 years but it is terminated on the day of election of new members of the Presidium. Members may be re-elected. Supplementary election of members of the Presidium shall take place only if the number of Presidium Members declines under 9 members. Supplementary election of the Presidium Members must hold within three months from the day when the number of members of the Presidium declined under 9.
7. At the head of the Presidium shall be the President. Members of Presidium shall vote the President and two till six vice- presidents. In case of absence of the President the Vice President or another Member of the Presidium authorised by the Presidium shall substitute the President.
8. The President shall call and supervise the Presidium. The Presidium is convened as necessary but at least ones a month. Convocation shall be perform under written invitation sent at least 5 days in advance which shall contain date, place, hour and agenda of the meeting. The Presidium may be convened with approval of all its members also in other way than in writing and the five days time period does not have to be followed.
9. The Presidium shall form a quorum if at least absolute majority of members are present. A decision of the Presidium shall be adopted by affirmative votes of simple majority of members present voting in favour of it. The members of the Presidium shall attend at the Presidium meetings personally and he is not entitled to be substituted by the third person.
10. The Presidium decision may be, in cases which do not bear a delay, replaced by the written statement of all members of the Presidium that they agree with intended measure. As a written form shall for this purpose find also telegraphic, e-mail, telefax statement after its telephone verification.
11. The member of the Presidium may also resign his office of the Presidium Member. The member who has intent to resign his office shall deliver written notification on resignation to the Presidium. Performance of his function shall terminate on the day listed in the notification on resignation his office but not earlier than such notification on resignation his office is delivered to the Presidium.
12. Record of the Presidium proceeding shall be executed. Such record shall contain all substantial facts from proceeding including voting results and exact wording of all decisions and which shall be distributed to all members of the Presidium. Also all decisions adopted by written statement of all members of the Presidium during time period from the last Presidium proceeding shall be recorded in the record of the Presidium proceeding. The president shall sign the record and in case of his absence the Vice President or other member of the Presidium authorised by the Presidium and the minutes clerk. Every member of the Presidium shall have a right that the record shall contain his different opinion at the discussed matter, if he requires so.
13. Act and sign on behalf of the Union in all matters may any member of the Presidium but always signature of two members of the Presidium together is necessary – of the President or Vice President and of any other member of the Presidium.

Article X
Supervisory Board

1. The Supervisory Board is the supervisory and arbitral body of the Union. The Supervisory Board particularly oversees the compliance with the relevant legal regulations, the Union’s Articles of Association, as well as with all the internal provisions in the conduct of the Union’s activities, the performance of the scope of activities of the Presidium and committees, if established, and the management of the Union’s property.
2. The Supervisory Board as the Union’s supreme supervisory body shall verify the course of accounting practices and shall be entitled to consult the accounting books, records and reports relating to the Union’s activities and shall inquiry the Union’s state. The General Assembly shall submit the report on the supervisory activity and take the conclusions and recommendations towards the Presidium pertaining in particular to the following:
   a) performance of tasks entrusted by the General Assembly of the Presidium,
   b) compliance with the Union’s Articles of Association and the legal regulations in the conduct of the Union’s activities,
   c) economic activities of the Union, accounting books, records, accounts and the Union’s assets, liabilities and receivables.
3. The Supervisory Board shall be obliged to review the Ordinary and Extraordinary financial statements and the Union’s budget proposal and then report its statements concerning the inspection result thereon to the General Assembly. The Supervisory Board is liable to all the decisions adopted by the General Assembly provided that they are in compliance with the legal provisions and the Articles of Association.
4. The Supervisory Board shall be entitled to ask the Presidium to provide all the relevant information relating to its activities and the activities of the Union and as well as all the information which is significant for the supervisory activity conduct of the Supervisory Board.
5. The Supervisory Board shall comprise 7 up to 11 members. The office of a Supervisory Board member is incongruous with the office of the Presidium Member and the post of the Executive Secretary. Members of the Supervisory Board shall be elected and recalled by the General Assembly. Each elected member of the Supervisory Board shall be a natural person only who reached the age of 18 and fully competent to perform legal acts and personal integrity.
6. The term of office of the Supervisory Board members shall be two years, but shall end when new members are elected. The re-election may be applicable. The additional elections of the Supervisory Board members shall be held providing the number of the members drops under the number of 5 members. The additional elections must be held within the three months from the date when the number of members dropped under the number of five members.
7. The Supervisory Board shall be chaired by the chairman of the Supervisory Board. The chairman and two vice-chairmen shall be elected by the members of the Supervisory Board. In the absence of the chairman of the Supervisory Board it is chaired by the Deputy Chairman or other member delegated by the Supervisory Board.
8. The Supervisory Board shall form a quorum if at least absolute majority of members are present. A decision of the Supervisory Board shall be adopted by affirmative votes of simple majority of all members of the Supervisory Board voting in favour of it.
9. A meeting of the Supervisory Board shall be convened as need may be, at least once quarterly by the Chairman of the Supervisory Board. The member of the Supervisory Board shall in person take part in the meeting of the Supervisory Board and may not be substituted by the third persons. Otherwise the provisions of the Article X, paragraph 8 and 10 to 12 relating to the Supervisory Board shall apply. The Supervisory Board shall approve its rules of procedure.
10. The Supervisory Board shall give the Presidium the prior approval in the following cases:
    a) property purchasing, alienating or encumbrance;
    b) concluding of credit contracts;
    c) concluding of rental contracts for the period longer than one year;
    d) concluding of contracts of which value of payment in an individual case will not go over the amount of SKK 500 000 (in words: five thousand Slovak crowns);
    e) assuming of guarantee and other  obligations and accession to debt.
11. If any controversial issues would exist between members of the Union in connection with Union activity and with assertion of their membership rights, about which members do not make agreement then the disagreement shall be present for resolution to the Supervisory Board. By decision making the Supervisory Board shall follow the arbitral rules of procedure approved by the Presidium. 

Article XI
Executive Secretary and Secretariat

1. The Secretariat shall pursue Union activity under the organization, administrative and economic side. The Secretariat shall mainly pursue administration regarding the Union activity and prepares statements and other details for meetings of the Union bodies.
2. The Secretariat activities shall be regulated by the Executive Secretary. The Executive Secretary is entitled to act on behalf of the Union in the extent determined by the Presidium. The Executive Secretary is obliged to make arrangements for due keeping of Union accounting books. The Secretariat activities are pursued also by other persons number of which are approved, based on the Executive Secretary’s proposal, by the Presidium.
3. The Executive Secretary shall perform his function in the labour relation providing the labour relation with the Executive Secretary shall be based on the employment contract pending his appointment by the Presidium. The Executive Secretary is liable for performing of its activities towards the Presidium. The Executive Secretary may not hold the office of the member of the Presidium nor the Supervisory Board at the same time.

Article XII
Property Situation and Management

1. Management of the Union shall be performed under the budget approved by the General Assembly in accordance with relevant legal enactments, this Articles of Association and Union management rules. The Presidium shall approve the Union management rules.
2. A property of the Union shall serve to assurance and development of the Union activity.
3. The Union property shall be created mainly from membership fees of members of the Union, from income of its own business activities and donations.
4. All bodies of the Union shall take care of the Union property that would be used in the most economic way and would be in every possible way protected against damage, destruction and loss.
5. Bodies of the Union shall decide on usage of the Union property in accordance with the Articles of Association and in consideration of planned activity and approved budget.

Article XIII
Termination of Union

1. The Union shall be terminated:
   a) by voluntary dissolution or by merger with other union if the General Assembly by its 2/3 majority quorum of present deputies would decide so; the General Assembly shall notify the Ministry of Interior of the Slovak Republic about the termination of the Union within 15 days from its termination;
   b) by effectual decision of the Ministry of Interior of the Slovak Republic on dissolution of the Union under the Article 12 par. 3 of the Act No. 83/1990 Coll.
2. A property settlement shall be performed by the termination of the Union. The property settlement shall be performed by
   a) the Presidium; or
   b) a liquidator appointed by the Ministry of Interior of the Slovak Republic in case listed in paragraph 1 point b).
3. Provisions of the Commercial Code as amended on winding up shall apply accordingly to the winding up of the Union. Members of who membership lasts to the day of winding up of the Union are entitled to get a share on the property balance which has risen from the winding up and that at the rate of paid membership fees of the member to the total amount of all paid membership fees.

Article XIV
Final Provisions

1. These Articles of Association shall become valid and effective at the moment when the General Assembly has decided on them. Every amendment to the Articles of Association shall be announced to the Ministry of Interior of the Slovak Republic within 15 days from its approval with the purpose to acquaint with such an amendment under the Article 11 of the Act No. 83/1990 Coll.
2. At legal relations which are not stipulated by these Articles of Association shall apply relevant provisions of legal enactments.
3. If any of provisions of these Articles of Association are not partly or wholly ineffective or become later ineffective this does not cause ineffectiveness of others provisions of these Articles of Association. Instead of such ineffective provisions and for supplying of gaps a legal regulation, which is the closest to the meaning and purpose of these Articles of Association, shall, if it is possible, apply.
4. Union Articles of Association registered at the Ministry of Interior of the Slovak Republic dated of 2.3.2004 under the No. VVS/1-2200/90-669-2 as amended by the Amendment registered at the Ministry of Interior of the Slovak Republic dated of 16.4.2004 under the No. VVS/1-2200/90-669-3 shall be cancelled and replaced by these Articles of Association.

Bratislava, dated on 8th April 2005

 

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