On 5 August 2022, the Central Bank of Hungary (MNB) announced an update to its supervisory recommendation for credit institutions and Hungarian branches of credit institutions on climate-related and environmental risks. The recipients have to identify, manage, monitor and disclose climate and environmental risks.

On 14 September 2022 the European Commission ("EC") published a proposal for a Regulation on an emergency intervention to address high energy prices ("Emergency Intervention Regulation" or "EIR"). The EIR requires EU Member states to implement three different measures: (i) Reduction in demand for electricity, (ii) Capping market revenues for the generation of electricity from inframarginal technologies (renewables, nuclear and lignite), and (iii) Collection of a monetary solidarity contribution from the fossil fuel industry. The EC says that the intervention measures can be based on Art 122 of the Treaty of the Functioning of the European Union ("TFEU") which establishes a competence for crisis intervention in the energy sector. However, it is questionable if the EC's view is going to withstand a judicial review since Art 122 TFEU has a very limited scope of application and some of the proposed intervention measures appear to go far beyond that scope.

We can probably all agree that no one likes bad surprises, and the same especially holds truth with respect to unexpected outcomes of legal proceedings. When it comes to civil proceedings before Croatian courts, so-called “surprise” decisions were recently introduced into Croatian legislation by Articles 5 and 367a of the new Croatian Civil Proceedings Act which entered into force on 19 July 2022.

On 18 August 2022, a government decree on special rules for the employment of third-country nationals in Hungary during the emergency was published. According to the new rules, the list of cases in which the government office is not involved in the consolidated application procedure as a special authority, has been extended. This means that starting from 19 August 2022, government offices do not participate in the consolidated application procedure if the third-country national is employed by the general contractor or its subcontractor as defined under Act VII of 2015 on the investment related to the maintenance of the capacity of the Paks Nuclear Power Plant and on the amendment of certain related acts, including employment through a temporary agency, too.

The Parliament of Ukraine has adopted in its entirety draft law “On Joint Stock Companies” No. 2493, dated 25 November 2019 (“Draft Law”). The Draft Law is designated to align the regulation of joint stock companies (“JSC”) operation with EU corporate governance standards.

As of 1 July 2022, Hungary's already existing financial transaction tax has been extended to payment service provision, credit and loan provision, currency exchange and mediated currency exchange services provided on a cross-border basis in Hungary. Provision of cross-border services means financial services provided in a country other than the country where the seat, place of business, head office, or branch of the service provider is located. Basically, this means that non-Hungarian service providers providing such services to Hungarian customers will most probably be affected by this extension.

By Government Ordinance no. 16/2022 for amending and supplementing Law no. 227/2015 regarding the Fiscal Code, the abrogation of some normative acts and other financial-fiscal measures, published in the Official Gazette no. 716 of July 15, 2022 (Ordinance 16/2022), a series of amendments and additions to the fiscal regime have been made that concern, among others, the regime of micro-enterprises, excise duties, hospitality sector, part-time labour agreements, VAT etc.

Pursuant to Article 1524 of the Turkish Commercial Code (“TCC”) which was enacted in 2012, companies that are subject to independent audit are required to not only set up a website, which then will be registered to the trade registry and announced in the trade registry gazette, but also allocate a certain tab of their website for the necessary announcements required by law, within three months following the registry and announcement of their incorporation. Accordingly, Regulation on the Websites to be Established by Stock Corporations (“Regulation”) was enacted in 2013, to stipulate the principles and procedures regarding the website requirement.

In its most recent decision in connection with the Fauna-Flora-Habitat Directive (the Habitats Directive), the Supreme Administrative Court (SAC) found that environmental organisations (EOs) – contrary to the principles of process prerequisites in the Austrian legal system – do not have to prove an interest in legal protection.

On 16 August 2022, a government decree was published amending certain construction, heritage protection, property management and government administration rules.

As a result of the concession procedure previously launched by the Hungarian Government, the Hungarian State handed over the operation and maintenance of 1,237 kilometers of motorway to five different private companies from 1 September 2022 for 35 years.

In today's digital landscape, where all sorts of data can be recorded and removing such is incredibly hard due to rapid and wide information sharing Ii is important that certain records cease to be accessible, especially after a period of time, so that the individual can pursue his/her life freely. In this context, requests to remove the results of searches using a person's first and last name from search engines such as Google have become quite widespread. This article on the right to be forgotten, which forms the basis of these requests, will discuss the ways in which these and similar requests can be made, the criteria according to which applications are/or should be evaluated, and the limits of the right to be forgotten.

This article provides an up-to-date overview of the currently existing FDI regimes in Hungary.

Legislative overview.

Despite being one of the most turbulent periods in the history of the mankind, 20th century represents one of the brightest spots in the evolution of technology. Except for the general enthusiasm in all branches over the industry, the second half of the century has been fertile when it comes to executing some revolutionary ideas.

As mentioned in one of our earlier articles, on 12 November 2021 the Regulation on Unique Technical and Technology Requirements and Procedures for Storage and Protection of Archival and Documentary Materials in Electronic Form (Official Gazette of RS no. 107/2021) (“the Regulation”) was published, governing the so-called electronic archiving, i.e., unique technical-technological requirements and procedures that should be fulfilled by creators and holders of archival and documentary materials during their storage and protection.

Disruptions to supply chains due to the SARS-CoV-2 pandemic, staff shortages, increasing inflation, rising fuel prices, wage pressure from workers, the war in Ukraine – these are just some of the challenges faced by economic operators. All of them significantly affect the profitability of existing public contracts.

The Regulation on the Amendment ("Amendment Regulation") of the Regulation on Unlicensed Electricity Production in Electricity Market ("Regulation") and the decision of the Energy Market Regulatory Authority numbered 11098 ("Decision") have been published in the Official Gazette dated 11.08.2022 and numbered 31920.