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A New Supervisory Authority for Regulated Services

A New Supervisory Authority for Regulated Services

Hungary
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On 27 April 2021 the Hungarian Parliament adopted a new legislation on the Supervisory Authority for Regulated Services, which will in the future supervise the judicial enforcement body, the liquidators and perform official tasks related to the retail sale of tobacco products and the organization of gambling. The new laws will enter into force on 1 October 2021. The purpose of the law is to strengthen the consumer protection, official control and supervision powers in relation to certain exclusive economic activities of the state.

The Authority will have the power to grant license and exercise official control and supervision over the retail trade of tobacco products, the tobacco retail supply activity and certain activities of tobacco wholesalers. It may, in addition, grant license and exercise official control and supervision over the gambling organizations. It will also have the right to supervise and regulate the independent system of judicial enforcers (bailiffs) and the supervision of the National Order of the Judicial Officers of Hungary. Finally, the Authority will be an independent regulatory body over the maintenance of the register of liquidators and other official registers of liquidator organizations, and it will exercise official supervision and control over the system of liquidator organizations.

The Authority will also perform tasks on behalf of the state relating to concession contracts. Within the Authority a Concession Council will operate in order to establish a uniform state concession law practice, and also to ensure the principles of the Concession Act and the sectoral laws defining the manner and conditions of carrying out economic activities on behalf of the state. The president of the Concession Council will be the president of the Authority, to be appointed by the Prime Minister for a term of nine years, who may be reappointed once at the end of the term.

By Levente Csengery, Partner, KCG Partners Law Firm

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