According to a recent amendment to the Hungarian Act on Sport in March 2019, an international sport association – recognized by the International Olympic Committee – will be classified and regulated as a subtype of sport associations in Hungary.
The purpose of the amendment is to create the legal framework for existing and future international sport associations to operate with Hungarian headquarters if intended. The amendment defines the procedure of registration, the regulations of the deed of foundation and the applicable provisions for the arbitration procedures.
International sport associations will ensure the proper operation of their sport branch in Hungary by issuing international regulations, organizing international competitions and representing international sport diplomatic interests.
By Gabriella Galik, Partner, KCG Partners Law Firm