It has not yet arisen as a question until recently what liability the managers of venture capital funds have for the capital funds managed by them or even towards the investors of the funds. No practice has developed in respect of Act on Investment Trusts and their Managers entered into force in 2014 either but it seems that their liability may be still dubious on the basis of the recently published data.
On the basis of the resolution made September 2016 of the National Bank of Hungary, neither financial enterprises nor credit institutions may carry out invoicing service as an authorised representative separately on a businesslike basis. The resolution basically examined this question on the side of financial enterprises, although it can be stated on the basis of its content that both credit institutions and financial enterprises, namely all the financial institutions are subject to the resolution.
A recently published decree of the Curia made in a specific case, the Curia took a stand on the question whether the holder of the lien established on a future claim of rent can be satisfied before the other creditors?
As a consequence of the amendment of Act LXXXII of 1991 on the Motor Vehicle Tax, the concept of long-term lease will be removed from the Act on the Motor Vehicle Tax from 1 January 2017 and the former regulation relating to long-term lease will be terminated, according to which the subject of company car tax was the long-term lessee instead of the owner and private individual as long-term lessee is not obliged to pay company car tax if certain conditions are met.
The majority of labour law disputes are connected to the termination of employment relationship, which proceedings are typically initiated by employees. However, such case may also arise when the employee files a lawsuit on this ground.
It happens in case of complex projects that an economic operator oneself would not be able to meet all criteria specified in the tender, there is also a possibility in such a case that it submits a bid together with someone else in public procurement procedure. It is worth reviewing that which conditions have to be or may be fulfilled by the tenderers jointly in this situation and which conditions are which one of the tenderers needs to meet.
The former laws on business associations unambiguously excluded the transfer of pre-emption rights of members. Since the section on sale of the old Civil Code included a rule that the business organisation may designate the person who is entitled to exercise the pre-emption right, the question may arise whether this rule may be applicable in the company law according to the new Civil Code?
The amendment entering into force on 21 March 2016 of Act on Credit Institutions and Financial Enterprises introduced the credit counselling service as a new auxiliary financial measure, which requires authorization. However, a number of practical questions have arisen since the amendment as to when certain counselling services fall within the concept of the new service requiring authorization.
The amendment of Act on the Formation and Protection of the Built Environment will enter into force in September, according to which government decree may require liability insurance for construction and building activity to be carried out in a residential building with a total useful floor area of up to 300 square meters. According to the new regulation, the architectural designer and participants in the construction have to have liability insurance for the construction of residential buildings falling within notification requirements instead of construction permit.
Nemzeti Eszközkezelő Zrt. (NET Zrt.) was established in accordance with the action plan for the protection of family homes specified by the Hungarian Banking Association and the Hungarian Government, with the task to purchase the homes of debtors who are most disadvantaged socially. Within this framework, the legislator made Act CLXX of 2011 on the protection of the homes of natural persons unable to fulfil their obligations arising from loan agreement, aimed at finding a solution for the situation of the debtors heavily indebted due to the mortgage loan agreement, which is acceptable both to the creditors, debtors and the State.
