In May 2020, Slovenia introduced a temporary FDI screening mechanism for investments into critical sectors based on the new Slovenian Act Determining the Intervention Measures to Mitigate and Remedy the Consequences of the COVID-19 Epidemic (the Slovenian Act). The screening mechanism applies temporarily from 31 May 2020 to 30 June 2023 and gives the Ministry of Economic Development and Technology the power (the Slovenian Ministry) to screen acquisitions under certain conditions. SCOPE The Slovenian mechanism qualifies a foreign investor as any non-Slovenian natural or legal person established outside of Slovenia. Entities established in other EU Member States, the EEA or Switzerland are therefore subject to the FDI screening mechanism. The mechanism is triggered by an investment aimed at establishing or maintaining permanent and direct links between the foreign investor and an entity established in Slovenia by acquiring a share of at least 10% in its capital or voting rights. The amount of the investment is not relevant. The following sectors are subject to screening: (i) critical infrastructure, including in the energy, transport, water, health, communications, media, data processing or storage, aerospace, defence, electoral or financial infrastructure, and sensitive facilities, as well as land and real estate located in the vicinity of such infrastructure or crucial for such critical infrastructure; (ii) critical technologies and dual-use items; (iii) supply of critical inputs, including energy or raw materials, as well as food security, medical and protective equipment; (iv) access to sensitive information, including personal data, or the ability to control such information; (v) the freedom and pluralism of the media; and (vi) certain projects and programs in the interest of the European Union. REVIEW CRITERIA The Slovenian Ministry will assess whether the investment poses a threat to the security or public order of Slovenia. Such a threat is particularly deemed to exist where the FDI affects activities in one of the above sectors. APPLICATION PROCEDURE Where the FDI falls within the scope of the screening mechanism, the foreign investor or the target must notify the Slovenian Ministry. The notification must be submitted in Slovenian through a form provided by the Slovenian Ministry. It must include information about the foreign investor as well as the target, their annual turnovers and ownership structures, sources of financing of the FDI, a list of countries where the foreign investor and the target company carry out relevant business operations and information the timing of the FDI. FILING FEES The Slovenian Act does not provide for a filing fee for FDI notifications. IMPLEMENTATION AND GOVERNMENT PRACTICE The Slovenian mechanism is an ex post screening mechanism upon notification or ex officio. The Slovenian Ministry may prohibit or unwind FDI which is found to affect public security or public order. So far, no decisions of the Slovenian Ministry under the FDI screening mechanism have been published. TIME LIMITS Investments falling within the scope of the screening mechanism must be notified to the Slovenian Ministry within 15 days. The Slovenian Ministry must issue a decision within two months from the date of receipt of the complete notification. Ex officio screening can take place within 5 years of the transaction. DUE PROCESS REQUIREMENTS The decision of the Slovenian Ministry can be appealed to the Slovenian government. CONFIDENTIALITY Information submitted as part of the application may only be used for the purposes of the screening process. The Slovenian Act does not provide for any further confidentiality obligations, nor does it set down a requirement to publish decisions. SANCTIONS Where the Slovenian Ministry prohibits or unwinds an FDI, the transaction is null and void. Failure to notify an FDI within the 15-day period can result in a fine of between EUR 50,000 and EUR 500,000 depending on company size. Individual within a legal entity who are responsible for the failure to notify can be fined between EUR 2,000 and EUR 10,000. LEGISLATIVE DEVELOPMENTS There are no new legislative developments since this screening mechanism entered into force on 31 May 2020.