Important changes to Hungary's competition law regime
On 18 October 2013, the Hungarian government presented a bill introducing significant reform to the competition law regime in Hungary. Key changes include the prohibition of gun jumping (closing a transaction prior to merger control clearance), the shortening of the merger control review period and the introduction of a settlement procedure.
The bill is planned to enter into force on 1 July 2014. Certain provisions, which concern the organisation of the Hungarian competition authority (HCA), are planned to enter into force before this on 1 January 2014. The bill will be discussed by the Hungarian Parliament in the forthcoming weeks.
The most significant changes included in the bill are listed in this briefing…
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