Upon the Civil Code taking effect, a shareholding company may only be established as a private limited company, limitation on the acquisition of treasury shares will be re-introduced and new types of shares may be created, the expert of Kovács Réti Szegheő outlined the major changes impacting shareholding companies to origo.
In the business section of www.origo.hu portal, Dr. Beáta Szegi, attorney-at-law of our law firm gives an outline of the security register to be introduced by the new Civil Code to take effect from 15 March, 2014.
Our articles of use and jewels we carry with us every day may represent substantial value, thus, we would like to ascertain that those are kept safe during our holidays or trips abroad.
New provisions shall be introduced regarding the limited liability companies from March next year.
Pursuant to the amendments to the Civil Code of Hungary to take effect as of 1 July, the rules governing the settlement of pecuniary debts and default interest shall be altered and expectedly, the legal disputes arising due to the deficiencies of the previous regulations will be avoidable – calls the attention the expert of Kovács Réti Szegheő.
According to the expert of Kovács Réti Szegheő Attorneys at Law, the interpretation disputes may cease with the adoption by the National Assembly of Act CIII of 2013 on the amendments related to the computation of absentee pay and the regulation of public funds.
Executive officers may be held liable if, after the time when impending insolvency has incurred, they do not carry out their management duties in a way as to seek to protect the interests of the company’s creditors
Establishment of a new professional organisation operating at the Hungarian Chamber of Commerce and Industry may accelerate the settlement of legal disputes arising out of building-designing and construction contracts and performance
Although all companies keeping double-entry books and registered in the register of companies shall deposit their annual report, experiences show that many of them fail to comply or do not properly comply with such statutory provisions
Regarding CCTV systems operable by security guards, while complying with the fundamental principles of data protection, provisions of the Act on Property Protection shall be applicable, granting statutory authorisation to security companies for carrying out certain data processing tasks.
