The Government adopted the amendment to the Prevention of Money Laundering and Terrorist Financing Act

The Government prepared the amending Act because it found non-compliance between measures in the field of preventing money laundering and financing terrorism, and the standards of the Financial Action Task Force (FATF). The procedure to determine irregularities and inconsistencies was led by the Committee of Experts at the Council of Europe.

The Committee of Experts at the Council of Europe (Moneyval) evaluates the compliance of measures in the field of preventing money laundering and financing terrorism, with the standards of the FATF.

On the basis of the established non-compliance, the Government’s amendment is an attempt to align systemic legislation with the standard that refers to the implementation of a detailed checks of customers who are politically exposed persons. The amendment foresees that those organisations bound to verify customers (e.g. banks) must obtain information about the source of the customer’s wealth in addition to information about their source of funds.

The proposed amendment also regulates the implementation of Regulation 2018/1672/EU and alignment with the standards of the FATF, which also calls for the control of cash at the EU’s internal borders, and not only its external borders.

Source: Ministry of Finance

The Government agrees with the proposed amendments to the draft Slovenian Sovereign Holding Company Act

In addition to some minor substantive changes, the proposed amendments above all address the comments made by the Legislation and Legal Service of the National Assembly of the Republic of Slovenia.

At the proposal of the Economic and Social Council, one of the proposed amendments is a solution that allows all unions or confederations representative on a state level, and that are members of the Economic and Social Council, to participate in the consultative body of Slovenski državni holding (SDH), the Economic and Social Expert Committee.

The proposed amendment tasks the Government with preparing a new strategy for managing the country’s capital investments, within six months after the new act is adopted. The reason for the adoption of the new strategy is the transfer of assets of the Bank Asset Management Company (DUTB) to SDH, which includes capital investments, receivables and material assets. Furthermore, the Ordinance laying down the state capital investment management strategy was adopted in 2015 and determined the strategic goals for managing the SDH portfolio until 2020 (return on equity), which no longer apply. The same is true of the composition of the portfolio and the state’s shares in companies, as they were sold after the strategy was adopted.

The proposed amendments mean that the provisions connected with the procedure for the acquisition of state investments and the preparation of the annual plan for managing companies that are directly run by the Government (SODO, ELES, BORZEN, 2TDK and Holding Kobilarna Lipica), are transposed from the legislation governing the implementation of the budget into the SDH Act.

In addition, the amendment stipulates that the capital investment in Holding Kobilarna Lipica is exempted from the proposed centralised management by the SDH, and therefore continues to be run by the Government.

Source: Ministry of Finance

Amendments to the Act governing the foundation of Slovenski državni gozdovi d.o.o.

The Government has adopted the Amendments to the Act governing the foundation of Slovenski državni gozdovi d.o.o. (SiDG).

There is a change to paragraph 6 of Article 12 of the Act governing the foundation of Slovenski državni gozdovi d.o.o., which determines that the term of office of a recalled member of the Supervisory Board (SB) does not expire until a new member of the SB is named, but no later than three months after being recalled. The aim of this arrangement is that the SB always has full membership, so it is in line with the rights of those who proposed the naming of individual SB members, i.e. that the balance of power in the SB remains stable.

The amendment to the Act abides by the above and gives the founder flexibility in recalling SB members regarding the date on which their term of office expires, so that the objectives mentioned above are met. In addition, the proposed amendment does not introduce any automatic element, as the founder will always judge whether to use this option for ending the term of office of the recalled member on the day of the recall.

Source: Ministry of Agriculture, Forestry and Food

Recall and appointment of members of the Supervisory Board of Slovenski državni gozdovi, d.o.o.

The Government adopted a resolution stipulating that before the end of their term of office the following members of the Supervisory Board of Slovenski državni gozdovi, d.o.o. are recalled (SiDG): Branka Neffat, Alojz Kovše and Dragica Vrkič Kozlan.

The general meeting of SiDG names the following members of the Supervisory Board as representatives of the founder, to replace the recalled members for a four-year term of office beginning on 21 October 2022: Alojz Burja – proposed by the Minister of Agriculture, Forests and Food, and Andreja Košir – proposed by the Minister of Economic Development and Technology.

In its role at the SiDG’s general meeting, the Government decides on the appointment and dismissal of members of the supervisory board who represent the founder’s interests. In accordance with the Management of State Forests Act, the ministers responsible for forests, the economy, finances, the protection of nature and the opposition in the National Assembly each propose the naming of one Supervisory Board member.

Source: Ministry of Agriculture, Forestry and Food