In order to promote economic growth, create jobs and attract investments in the EU, in December 2018 the European Commission adopted a proposal for a directive on modernising the existing EU company law.
Several amendments to the Company Registry Act entered into force on 1 July 2018. The new provisions include a new information obligation for the legal representatives, meaning that in case of the indication of personal data in addition to the statutory data content of the company register, the legal representative must draw the attention of the natural person to the fact that his/her consent to include his/her natural data in the document means that such data will be available for the public.
The European Commission proposed new company law rules on 25 April 2018 to provide companies better business opportunities in the EU’s Single Market and to ensure that cross-border operations (conversions, mergers and divisions) are accompanied by adequate safeguards against abuse.
A significant step in the European company law is that from 7 June 2018, business registers in EU countries will be interconnected in the system called the Business Registers Interconnection System (“BRIS”).
In order to replace Hungarian Act 1994 of LXXI on Arbitration, a new act on arbitration has been enacted by the Parliament on 30 May 2017.