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At the end of March 2017, the Hungarian Ministry of Justice published the bill of the new act on attorneys at law. The bill includes significant amendments compared to the current regulations. As a main amendment, in house lawyers preparing and countersigning the deeds of the company and acting in court proceedings on behalf of the company would be integrated in the bar association.

Since the publication of Regulation No. 2016/679 of the European Parliament and Council on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (GDPR), it is certain that the regulatory framework of data handling and personal data protection will significantly change.

On November 22, 2016 the Hungarian Parliament adopted the Act on the new Code of Civil Procedure. The new Code, which will enter into force on January 1, 2018, brings many innovations to the current rules of civil actions and out-of-court proceedings to – as per the intentions of the legislator – facilitate the effective resolution of civil disputes that have become more and more complex over time, in social and economic conditions that have changed profoundly since the current Code of Civil Procedure entered into force more than 60 years ago.

An advantageous economic environment supported a growth in investment volume in 2016, as the residential investment sector and other segments of the property market performed well. Generally, the market has become more balanced in recent years after the recession triggered by the economic crisis, both in terms of segmentation and in supply and demand. 

In December 2016, the Hungarian national electronic communications regulator (the NMHH) was among the first EU national regulatory authorities to apply the new EU Regulation 2015/2120 on net neutrality (the “Regulation”), then followed that up with a similar decision in January 2017. In these decisions, the NMHH followed the strict interpretation of the Regulation proposed by the Body of European Regulators for Electronic Communications (the “BEREC”). The NMHH’s decisions are part of a wider string of test cases springing up across the EU on how the Regulation is to be interpreted.

Last year delivered some surprises in global politics and economy. It was a year of unexpected voting results, which will no doubt have a serious effect on the global legal and economic landscapes in the long term. The international, regional, and Hungarian M&A market will all be affected. The question is what comes in the year ahead. 

Hungary Knowledge Partner

Established in 1957, Wolf Theiss is one of the leading European law firms in Central, Eastern and South-Eastern Europe with a focus on international business law. With 300 lawyers in 13 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and international industrial, trade and service companies, as well as banks and insurance companies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.

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