To comply with the highest European standards and safety conditions – Law on amendments to the Law on payment transactions (“Law”) has been adopted in the Parliament of Montenegro on 29 September 2022. Free movement of capital and full compliance with the Payment Service Directive 2 (“PSD2”) were main reasons for adopting the Law which shall ensure that the provisions of payment services in Montenegro are regulated in the same way as in the member states of the European Union.
Construction Zoning
In April 2022 deputies of the Slovak parliament, approved two long-awaited laws: Act No 200/2022 on zoning (‘the Zoning Act’); and Act No 201/2022 on construction (‘the Construction Act’). These two laws are about to replace the 1976 Building Act. Although they do not take effect until 1 April 2024, they bring such fundamental changes that need to be considered right away, in particular by the developers and real estate investment funds. The most significant of these changes are summarised below.
Increase of the Minimum Salary from January 1, 2023
The Government of the Republic of Serbia has passed the Decision on the Amount of the Minimum Price of Work for the Period January – December 2023, which was published in the Official Gazette of RS no. 105/2022 dated September 14, 2022, and which shall be applied as of January 1, 2023 (“Decision”).
EU General Court Largely Upholds Google's Record Android Penalty
In its decision dated 18.08.2018 and numbered AT.40099, the European Union Commission [the "EU Commission"] fined Google with 4.34 billion Euros for abusing its dominant position through requiring smartphone makers to take a bundle of Google apps, preventing use of other versions of Android and concluding anti-competitive revenue share agreements. The General Court [the “Court”] dismissed Google’s appeal and upheld the Commission’s decision by slightly reducing the amount of fine to 4.125 billion EUR. This was recorded as the highest penalty ever imposed by European competition authorities.
Romania: HR Challenges and the New Whistleblowing Act
The Whistleblowing Act in Romania (currently in the form of a revised bill, again waiting for a final vote in the Parliament) has been hotly debated over and over again during the past year: authorities, consultants, lawyers, employers and anti-fraud specialists have been going through the bill in detail and working out the challenges it will raise, both for public entities and private companies.
Is the Turkish Competition Board Starting to Scrutinize Ancillary Restraints More Rigorously? - Vinmar/Arısan Transaction is Approved on the Condition that Scope of Non-Compete and Non-Solicit Obligations is Limited
This article aims to provide information regarding the ancillary restraints under Turkish Merger Control Regime and also analyses the Turkish Competition Board’s (“Board”) Vinmar/Arısan decision which provides insight into the Board’s approach to assessing the scope of ancillary restraints in merger cases and foreshadows potentially stricter scrutiny over such restrictions.
The future of green hydrogen in Bulgaria
Thanks to its qualities - environmental friendliness and a wide range of applications, hydrogen occupies an increasingly central place as an energy carrier. Focus on its use, and in particular on the use of green hydrogen, is also placed at European Union (“EU”) level, where in a number of acts, it is considered an important factor for decarbonization, fulfillment of the global goals of the Paris Agreement and achievement of carbon neutrality until 2050. The reason is that both hydrogen and electricity can be generated from greenhouse gas neutral sources addressing climate change and air quality issues. To deploy green hydrogen and turn it into a viable solution to decarbonize, a lot of investments and a favorable regulatory framework are required.
Romania: Changes to Income Tax on Salaries - Maximum Benefit at Minimum Cost
According to the latest figures from the National Institute for Statistics and other public information, the annual inflation rate has continued to rise and, at 15.32% in August, reached its highest rate in 20 years. Inflation has been rising at a galloping rate over the past year, both globally and nationally.
Welcome to the New Regulation on Consumer Arbitration Committees
Consumer Arbitration Committees’ Regulation (the "Regulation") was published in the Official Gazette dated 21.09.2022 and numbered 31960.
New Rules in Czech Ubo Law as of 1 October 2022. Immediate Threat of Sanctions.
The Czech Act on Ultimate Beneficial Owners (the "UBO Act") has been effective since 1 June 2021. Not even a year and a half later, Czech lawmakers introduced an amendment to the UBO Act (the "Amendment") after significant pressure from the European Commission to comply with the Fifth Anti-Money Laundering Directive ("AMLD5").
How To Implement Flexible Work Arrangements in Serbia in the Post-COVID-19 Era
During the Covid-19 pandemic, in every industry where it was possible employers transferred their employees to work from home.
Regulation of the Rights and Obligations of Directors Outside the Employment Relationship
One of the questions that is often risen in practice is whether there is an obligation to conclude a contract with an individual who is registered as a legal representative, i.e., director of a company, and who does not establish an employment relationship in that company. In relation thereto, there are also inquiries whether it is mandatory to provide for a compensation for the work of a director who is not employed with the company, as well as what are the tax obligations of the company regarding the compensation that a director receives for performing the respective capacity.
New Cybersecurity Rules in Europe
Europe is awaiting the evolution of cybersecurity. On 3 May 2022, the Council and the European Parliament agreed on the so-called NIS 2 Directive (Directive on measures for a high common level of cybersecurity across the Union). NIS 2 repeals the currently effective NIS Directive.
A Moving Plot: The Legal Significance of the Detailed Development Plans under Art. 16 of the Spatial Development Act
Imagine receiving a letter that your real estate located in Bulgaria will, in fact, “change” its location within the neighborhood. This can come up as a shock to any international investor in Bulgaria. Such companies might wish to finance certain entrepreneurial construction activity in Bulgaria, and therefore, acquire one or more plots of land. This sort of legal conundrum is indeed possible in Bulgaria and this article will look into its intricacies.
Novelties in Awarding the State-owned Agricultural Land for Non-agricultural Purposes
The Government of the Republic of Serbia rendered the new Ordinance on Conditions, Manner and Procedure for Awarding the State-owned Agricultural Land for Use for Non-agricultural Purpose, that came into force on 10 September 2022.
Romania: State Aid Call for Submission of Applications under Government Decision 959/2022 Will Open on 1 November
The Ministry of Economy has officially announced the opening of the call for submission of applications under the state aid scheme regulated by Government Decision no. GD 959/2022 for financing assets and/or salary costs. The period for submitting financing requests is scheduled between 1 November 2022 to 16 December 2022, when investors may file the relevant documentation.
In Which Cases Several Transactions Can Be Considered as One Concentration
According to the latest Position published by the Serbian Commission for the Protection of Competition, it is prescribed whether and in which cases the scope of one concentration can be several undertakings that are not considered interrelated.
How Will the Consumer Amendment Affect the Digital World?
A major amendment to consumer law is on the horizon in the Czech Republic, and although it has so far undergone only a first reading in the Chamber of Deputies, it is not premature to look at its content. As for the most part it consists of the implementation of European directives, which leave almost no room for deviation, no major changes to the proposed draft are expected to be made during the legislative process. Another focus of this legislative amendment is digital content, particularly the rights and obligations connected to its supply.