When it comes to clearing a path in a forest to construct and operate an overhead electrical power line, electricity grid operators face various legal issues.
Updates of the Romanian Criminal Procedure Law – the Procedural Safeguard of Children
Given the importance of human rights in general and children rights in particular, the European Union (the “EU”) has considered that the international treaties do not offer an adequate level of protection of minors during criminal trials, and therefore, a common legal framework is necessary.
The City of Belgrade Amends the Decree on Determining the Construction Land Development Contribution
The Assembly of the Serbian capital – City of Belgrade amended the latest version of the Decree on Determining the Construction Land Development Contribution (Infrastructure Contribution).
KELER Received a CSDR Licence
In December 2020, KELER Kozponti Ertektar Zrt. (KELER Central Securities Depository Ltd.) (KELER), the central depository of Hungary, was granted an authorisation under the Central Securities Depositories Regulation (CSDR Regulation) and can now offer its clients services supporting an efficient and secure securities market as a central securities depository operating under unified European regulations.
Updates On International Chamber of Commerce Arbitration Rules
International Court of Arbitration of the International Chamber of Commerce (‘’the ICC’’) set forwards its approach for the Alternative Dispute Resolution with new updated arbitration rules. The 2021 Rules were launched on 1st of December 2020, and will become effective and apply to cases that is filled from 1st of January 2021. Cases submitted to the ICC and registered before 1st of January 2021 will be ruled by 2017 ICC Rules, unless the parties stated otherwise. The new alterations intended to make a further efficiency, flexibility and transparency into the arbitral practices whilst anticipating the demands of both the arbitration community and arbitral tribunals.
Employment and Labor Quarterly Review – Czech Republic, Poland, Russia, Turkey
2020 was quite a year and one all of us will not forget. For employment and labor law developments, 2020 was unlike any other. We saw rapid change and common themes emerge across the globe. One of the major themes was the introduction of government subsidies to support employers and maintain employment across many countries. We also saw an acceleration of remote and flexible working, and which posed both opportunities and challenges for employers and employees alike. There was also an increase in regulations that govern remote working.
New Regulation for the Authorization of Credit Institutions – Preliminary Requirements for Authorization
Regulation no. 12 of December 18, 2020 on the authorization of credit institutions and amendments pertaining to the same (the “Regulation 12/2020”) issued by the National Bank of Romania (the “NBR”) was published in the Official Gazette no. 1291 as of December 2020 and is applicable starting with the same date.
Novelties in the Business Registers Agency
From January 1, 2021, the Business Registers Agency (“BRA“) starts to provide new services and keep a new register.
Favourable Provisions for Builders Due to Pandemic
At the end of December 2020, several new regulations have been accepted to facilitate constructions due to the state of emergency. As one of the most important news, the Hungarian Government has extended the application of simple notification to the construction activities of a residential building including maximum six flats, but having a total net floor space of maximum 1,000 sqm.
Entrepreneurs as Consumers – the Problematic New Revision of Polish Business Law
From 2021 entrepreneurs running sole proprietorships have been granted certain benefits, which had so far been enjoyed only by consumers. All this is due to the change in the Polish Civil Code and the consumer rights legislation referred to as the so-called "friendly law package" (Polish Journal of Laws 2019, item 1495). Based on the perspective of entrepreneurs, this paper outlines the challenges brought about by the amendment.
Czech Republic to Start FDI Screening from 1 April 2021
A new regulation sets up a system for controlling investments from outside the EU in strategic assets relevant to the security and internal order of the Czech Republic. From 1 April 2021, certain foreign investments in Czech assets (including private) will thus be subject to prior approval by the Ministry of Industry and Trade. The ministry will also be entitled to review any foreign investment up to five years after its completion. The Act defines a wide variety of entries into the target as foreign investment (not only asset ownership but also, for example, membership of a body). There is no experience with investment approval procedures yet, but failure to notify can lead to enormous fines (up to 1% of turnover). Comprehensive preparation of the required documents and information and legal representation in negotiations with the Ministry of Industry and Trade are therefore highly recommended.
Program to Help Construction Businesses Announced by the Government
The Hungarian Government announced at the end of 2020, that similarly to previous years, it will launch the fifth edition of the so called ‘EPITO’ (“Constructing”) program.
Ukraine Changes Its Financial Monitoring Rules
On April 28, 2020, Ukraine’s “On Prevention and Counteraction the Legalization (Laundering) of Proceeds from Crime, Financing Terrorism and Financing the Proliferation of Weapons of Mass Destruction” Law (the “AML Law”), which replicates the recommendations of the Financial Action Task Force and implements provisions of 4th Anti-Money Laundering Directive ((EU) 2015/849), came into force.
Legal Regulation of Cryptocurrencies in Belarus
In 2018, Decree of the President of Belarus No. 8 “On Development of Digital Economy” entered into force, which, inter alia, legally recognized cryptocurrencies in Belarus. In this article we briefly summarize the main aspects of the Belarusian regulatory framework for cryptocurrencies, along with significant risks and perspectives.
Estonia: Change to Success
Despite the shocking and unanticipated effects of the first pandemic wave in spring 2020, the focus has shifted, now that the second wave is rolling in, from supporting affected individuals with state salary supplements and banking-sector-provided grace periods to the necessity for a more holistic view in order to help affected industries survive.
Latvia: Navigating the Jungle – Anti-Money Laundering and Sanctions Compliance
In February, 2020, the Latvian authorities breathed a sigh of relief after the Financial Action Task Force voted against adding Latvia to the so-called “grey list” of jurisdictions with strategic anti-money laundering deficiencies. Prior to that, MONEYVAL, the permanent monitoring body of the Council of Europe entrusted with the task of assessing compliance with the principal international standards to counter money laundering, found that Latvian financial institutions had failed to introduce sufficient methods to identify suspicious funds primarily associated with clients from the former Soviet bloc countries.
Lithuania: Is the EU’s New Crowdfunding Regulation an Opportunity for Lithuania?
On the 5th of October, the new regulation of the European Parliament and of the Council on European crowdfunding service providers for business was approved. Although crowdfunding activities are already regulated in Lithuania by national laws, this new regulation represents a real opportunity for Lithuania and Lithuanian crowdfunding service providers.
Turkey: New Instruments in Debt Capital Markets – Secured Debt Instruments and The Security Agent
2020 was a busy year for the legislator in relation to the Turkish Capital Markets. An amendment made in the Turkish Capital Markets Law (CML) at the beginning of 2020 introduced several elements, including a Security Agent, into Turkish law. And then the pandemic hit, making the trust factor in regard to assets even more crucial than it was before. In times of uncertainty, the Security Agent may be invited to play a greater role.