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Modifications in corporate law

Corporate law, Medium-sized companies, News, Start-ups / / ,

In July 2017, modifications were carried out in acts of Public Company Information, Company Registration and Winding-up Proceedings.

According to the Act V of 2006 on Public Company Information, Company Registration and Winding-up Proceedings („Ctv.”) modification made in June 2017 the National System of Company Information and Company Registration (Company Information Service) will be responsible for providing access to the Business Registers Interconnection System (BRIS) by linking the national central registers, commercial registers and business registers.

By connecting the European countries’ company registers, certain data, the consolidated articles of associations, annual reports of the limited liability companies, corporations and European corporations will be available in BRIS which system is operated by the European Commission. The basic data can be accessed free of charge, in other cases the data can be obtained against payment of an administrative fee.

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The National Authority for Data Protection and Freedom of Information regulates “cookies”

Company groups, Data protection, Medium-sized companies, News, Start-ups / / , , , ,

The National Authority for Data Protection and Freedom of Information published a notice about the data protection requirements of “cookies” this February.
The National Authority for Data Protection and Freedom of Information in its February announcement summarised the experiences on the data protection requirements of the “cookies” used by webshops, with a clear intention to create a legitimate and coherent practice.

The Authority draws attention to the fact that the at the same time, on 25 May 2018, both the new regulations on the general data protection and the new electronic communication regulation will enter into force, and the latter will regulate and standardise the cookies in the European Union.

The publication pointed out that to the direct marketing newsletters (DM Letters) not only the Law on Advertising and the Electronic Commerce Act shall be applied, but the Data Protection Law as well.

The National Authority for Data Protection and Freedom of Information regulates “cookies” Read More »

Amendment of the Code of Civil Procedure

Dispute resolution, representation, Medium-sized companies, News, Start-ups / / , ,

According to the amendment of the Code of Civil Procedure from the 1st of July 2016 for companies with an inland seat have to submit all submissions to the court electronically, and if the company is a defendant in a procedure, the court will also electronically deliver all documents, except the application which is delivered in paper format.

In order to be able to comply with the new rules, a sufficient technical infrastructure has to be granted either by the company or by its legal representative, including the so called “ÁNYK” program, the “process gate” and the electronic signature. Further to this, the parties have to preserve all electronic documents. In case the digitalization of a large amount of the evidences would entail disproportionate difficulties, it will be possible to present the evidences in paper format.


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Amendment of the Labour Code

Employment, labour law, Medium-sized companies, News, Start-ups / / , , ,

In case of executive employees the parties may deviate from the provisions of the Labour Code, except some provisions where the Labour Code expressly prohibits deviation. A new provision is that the employment contract of the executive employee shall not deviate from the provisions of § 128 of the Labour Code, meaning that the executive employee shall also be entitled to an unpaid leave until the child’s 3rd birthday for the purpose of childcare.

In case of pregnancy or human reproduction process, if the employee informs the employer on the above facts only after the termination notice has been handed over, the employer may unilaterally and without the employee’s consent decide to, but is not obliged to withdraw the termination notice within 15 days after the employee informed the employer on her condition.

§ 297 of the Labour Code has been replaced by new provisions. Pursuant to that, in case a foreign employee carries out work in Hungary in frame of cross-border provision of services, if the Hungarian party (receiver of the services) knows, or has reasonable grounds to know that the foreign employer has failed to comply with its obligation to pay wage and contributions after the employee, the Hungarian party will be jointly and severally liable with the foreign employer. It has also to be noted, that the parties may not vary from this provision in their contract.

As a general rule of the Labour Code a daily rest period of at least 11 hours shall be granted to the employees. The Labour Code contains several exceptions to this rule when a daily rest period of at least 8 hours is sufficient. From 2017 standby work will not be an exception any more, thus, 11 hours rest period has to be granted to these employees instead of the 8 hours presently stipulated by law.


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Amendment of the act on benefits of disadvantaged employees and the amendment of several acts

Employment, labour law, Medium-sized companies, News, Start-ups / / , ,

From 2017 the amount of the rehabilitation contribution payable by the employer shall be nine times the minimum base salary for full-time employees on the first day of the current calendar year.

 

 

Amendment of the act on benefits of disadvantaged employees and the amendment of several acts Read More »

Amendment of the Personal income tax act

Medium-sized companies, Employment, labour law, Start-ups /

As of 2017 the “cafeteria system” will be transformed, according to which the scope of the categories of cafeteria benefits (“cafeteria”) and certain benefits which are not considered as cafeteria (“certain benefits”), will change. In addition to this from 2017 the employer may also grant a maximum amount of net HUF 100.000,- in cash to the employee per year as part of the cafeteria with the reduced tax rate.

The amount of the reimbursement of the costs of travelling to work is partly tax-free. Currently the tax-free amount is HUF 9/km. In the future an amount of HUF 15/km will be tax-free.

The definition of “posting” has also been clarified. From August of 2016, posting shall mean any official or business travel ordered by the employer, not including the travel to work and the travel between the residence or place of stay of the employee and the seat or establishment of the employer.

 

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Amendment of the Civil Code – managing directors

Company groups, Corporate law, Employment, labour law, Medium-sized companies, News, Start-ups / / , , , ,

Until now, the company and the managing director were jointly and severally liable towards third persons for non-contractual damages caused by the managing director in his executive capacity. Pursuant to the new provisions, only then will the managing director be jointly and severally liable with the company against third persons, if he has caused the damages wilfully in his capacity as managing director.

Furthermore, the amendment clarifies that the managing director’s liability for wilfully caused damage extends not only to non-contractual damages but also to contractual damages (until now contractual damages could only be claimed from the company, and not from the managing director).

 

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The new EU General Data Protection Regulation has been approved

Company groups, Data protection, Medium-sized companies, News, Start-ups / / , ,

After long years of negotiations, on 14 April 2016 the EU Parliament approved the general data protection regulation (“Regulation”), which – compared to the current rules – means changes both for private persons and companies.

The Regulation shall replace the current EU Directive, being implemented by the member states in certain cases quite different ways, and a new, consolidated regime shall be directly implemented by the member states.

The Regulation will enter into force after two years from its approval, however, due to the significant changes included therein, it is advisable for companies to start reviewing their internal rules and prepare for their potential amendments. The infringement of the new rules may be subject to a fine of up to 20.000.000 EUR, or in case of an undertaking, up to 4 % of the total worldwide annual turnover of the preceding financial year (whichever is higher).

Should you have any questions regarding the above, please feel free to contact us.
Dr. Marianna Csabai
H-1126 Budapest, Tartsay Vilmos u. 3.
Tel: + 36 1 488 7008
Fax: + 36 1 488 7009
E-mail:

 

The new EU General Data Protection Regulation has been approved Read More »

We are ranked in the Chambers EUROPE guide

Company groups, Employment, labour law, Medium-sized companies, News, Start-ups / / , ,

The prestigious Chambers and Partners also ranked CLVPartners in the Chambers EUROPE guide in Employment and in the Life Science areas.

Chambers wrote about our CLVPartners based on the clients’ opinion that “the team is known for growing strength in advising international and domestic clients, in sectors such as pharmaceuticals, retail, entertainment, on cross-border TUPE transactions, employment restructuring and redundancy cases. Boasts expertise in collective bargaining agreements, data privacy issues and negotiating with works councils and trade unions.”

The full results available here: http://www.chambersandpartners.com/108/23/editorial/7/1#22609124_editorial

25 April 2016

 

Should you have any questions regarding the above, please feel free to contact us.
Dr. Marianna Csabai
H-1126 Budapest, Tartsay Vilmos u. 3.
Tel: + 36 1 488 7008
Fax: + 36 1 488 7009
E-mail:

 

We are ranked in the Chambers EUROPE guide Read More »

Higher ranking for our law firm on Legal 500

Company groups, Competition law and consumer protection, Corporate law, Medium-sized companies, News, Start-ups / / , , , , ,

The Legal 500 research team has ranked higher CLVPartners Hungary in the EMEA 2016 directory than in the previous years in Employment and Commercial, Corporate M&A practice areas. The results are based on appreciation of the Firm’s profile, complexity, the excellent quality of works undertaken and the new hires and growth of the practice groups.

Please click here and check the Legal 500 website for further information.

13 April 2016

 

Higher ranking for our law firm on Legal 500 Read More »

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