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Newssquare Bulgaria – Electronic Communication and Electronic Files now Available Option for Employers

As of May 2018 the new Ordinance on the Rules and Requirements for Creation and Storage of Electronic Documents at the Employee’s File [1] (the 'Ordinance') entered into force in Bulgaria allowing employers to keep electronic records of employees.

Newssquare Serbia: Register Of Ultimate Beneficial Owners

On 25 May 2018 the Parliament of the Republic of Serbia adopted the anticipated Law on the Central Register of Ultimate Beneficial Owners (the "Law").


The Law came into force on 8 June, at which point, the entities required thereunder and their authorized persons will have 30 days to identify their Ultimate Beneficial Owners (UBO). Pursuant to the Law, such entities are not only Serbian companies, but also a broad scope of entities and associations falling within the scope of the defined term "registered entity". These include subsidiaries, institutions and branches of foreign investors and various business entities and associations. The official Central Register of UBOs should be formed...

Newssquare The Major Changes brought to the Romanian Public Procurment Legislation by Government Emergency Ordinance No. 45/2018

On 4 June 2018, the Romanian Official Gazette published Government Emergency Ordinance, which had been approved since 24 May 2018 ("GEO 45/2018"), regarding amendments and supplements to certain laws with impact on the public procurement field. This mainly relates to the public procurement legislative package adopted in 2016, but also impacts other related procurement regulations.

Newssquare Romania Is Set To Enforce Mandatory Rehabilitation Works For Hotel Owners

On 14 May 2018, a draft law (PL no. 190/2014) regarding certain measures for the rehabilitation of tourist facilities of national interest was included on the agenda of the Chamber of Deputies. Should this draft law be approved and adopted, the impact could be significant. It would impose on hotel and hostel owners the obligation to undertake environmental and architectural rehabilitation works on their buildings and surrounding street within twelve (12) months from the law being enacted. These rehabilitation works would relate to the exterior elements of the building (façade and roof) not the structural or internal components of the structure.

Newssquare Latest Amendment to the National Court Register Act

The latest amendment to the National Court Register Act ("Act") introduces many changes that will significantly affect its functioning and obligations of entrepreneurs. It is a part of the package of bills known as the "Constitution of Business", which aims to reform and simplify the regulations on conducting business activity and to prepare the National Court Register ("NCR") for integration with EU commercial registers.(*) As a result, the Act emphasizes improvements to the functioning of the NCR, including complete digitalization of proceedings. The solutions contained in the Act will be introduced in stages. The Act itself came into force on March 15, 2018, however some regulations,...

Newssquare New Arbitration Regime In Hungary

Renewal of the Procedural Regime

The Hungarian civil procedural rules underwent a sweeping reform in 2017, affecting the entire dispute resolution area, including both litigation and arbitration. The brand new regime better reflects the requirements of the 21st century and thus may give rise to a modern, professional and effective handling of procedures.


Newssquare Corrigendum Deed for GDPR

Kindly be informed that over the past days a Corrigendum Deed amending several provisions of EU Regulation No. 2016/679 on the protection of individual rights with regard to the processing of personal data Directive no. 95/46/GDPR was published on the European Union Council's website. The corrigendum refers to all GDPR versions translated in EU members states' official languages and is due to enter the European Parliament's agenda for approval, with national authorities having the possibility to have a say on the amendments.

Newssquare Solar Boom in Hungary

Update on Hungary's solar boom – significant benefit to photovoltaic projects licensed under mandatory offtake system upon applications submitted before 2017


1. Introduction

While no more application for Micro PVPP licenses in the mandatory offtake system can be submitted anymore as of 26 April 2018, it seems that the Government acknowledged that the projects licensed under the mandatory offtake system that are applied before 2017 may not be implemented within the strict deadlines prior set in the regulation. The Government therefore allowed the developers (i) to ask for the extension of the implementation period (additional 3 years instead of the former 1 year) regarding such projects...

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