SIGNIFICANT AMENDMENTS TO THE HUNGARIAN COMPANY REGISTRY ACT

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.

Another novelty is the possibility to file the registration application with the court of registration prior to the date of the change, however, the submission to the court may not be earlier than the date of the decision on the change.

Under the new provisions of the Company Registry Act, it may also be included in the company register if the managing director does not have any representation right.

The provisions relating to the winding-up proceeding had also been amended substantially, for example, it is not required to appoint a separate winding up administrator, but the managing director of the company should perform the tasks of the winding up administrator.