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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...

Newssquare New Arbitration Rules in the CEE Region

Vienna Rules 2018 (In Force as from 1 January 2018)


Domestic Cases

A major revision is the competence of VIAC to administer domestic cases (from 1 July 2018 onwards) even if all parties have their seat or domicile in Austria. The competence to administer international cases remains unchanged.


Newssquare Neue Schiedsordnungen in der Region

Wiener Regeln 2018


Nationale Verfahren

Die neuen Wiener Regeln 2018 gelten grundsätzlich für alle Schiedsverfahren, die nach dem 31.12.2017 eingeleitet wurden. Eine wesentliche Neuerung betrifft ab 1.7.2018 die Durchführung nationaler Verfahren, dh wenn alle Parteien ihren (Wohn-)Sitz im Inland haben. Diese Kompetenz war bisher bei den Ständigen Schiedsgerichten der Wirtschaftskammern der Länder angesiedelt. "Alte" Schiedsklauseln, die eine Vereinbarung zugunsten der Schiedsgerichte der Länderkammern vorsehen, bleiben aber wirksam. Mit der Erlassung von entsprechenden Überleitungsbestimmungen bei den Länderkammern soll die Zuweisung solcher Schiedsverfahren an das VIAC erfolgen....

Newssquare DSGVO – Straffreiheit in Österreich?

Der österreichische Gesetzgeber hat am 20.04.2018 relativ unbemerkt Änderungen des im Jahr 2017 beschlossenen Datenschutz-Anpassungsgesetzes (1) vorgenommen. Aufgrund einer darin enthaltenen Bestimmung, wonach Ersttäter im Falle eines Datenschutzverstoßes angeblich straffrei bleiben, drang dieses Datenschutz-Deregulierungs-Gesetz (2) 2018 rasch an die Öffentlichkeit. Auch an anderen Stellen wurden noch Änderungen eingebaut, die für Unternehmen durchaus eine Erleichterung mit sich bringen könnten.

Newssquare RES/COGEN Producers forced to the free market - amendments to the Bulgarian Energy Act and the Renewables Act repeal the RES and CO-Generation Support Schemes

On 27 March 2018 the Bulgarian Parliament published a Bill for amendment and supplementation of the Energy Act ("EA") and the Act on Energy from Renewable Sources ("AERS"), which in practice repeals the RES and highly efficient cogeneration ("CoGen") support schemes. The most critical amendments include (i) the repeal of the currently fixed preferential prices ("FiTs") by way of introduction of a two component payment scheme and (ii) the replacing of the mandatory obligation of "National Electricity Company" EAD ("NEK") or the licensed End Suppliers to purchase the entire generated RES electricity under long term power-purchase agreements (“PPAs“) to the Security of the Energy System Fund...

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