On June 26, 2024, Ukraine’s National Energy and Utilities Regulatory Commission (NEURC) adopted the Resolution "On Approval of Amendments to Certain Resolutions of the NEURC", which introduces special auctions for ancillary services. The Resolution aims to facilitate much-needed investment into energy generating capacity and energy storage units in Ukraine, and will ultimately contribute to better grid balancing in the country.
Compliance Requirements under the Croatian Act on Restrictive Measures
The Act on Restrictive Measures (OG No. 133/2023, the “Act“) entered into force on 15 November 2023 (with the application of certain main provisions as of 15 May 2024). The Act establishes more effective due diligence and reporting procedures and mechanisms, which will enable the Republic of Croatia to implement new and more complex sanctions regimes from the European Union and United Nations.
The Republic Geodetic Authority Conducted an Assessment of Apartment Values: A New Standard in Transparency and Accessibility of Real Estate Data
The Republic Geodetic Authority of Serbia (“RGZ“) announced in June 2024 that it has conducted a mass assessment of apartment values across Serbia, aiming to set a new standard in transparency and accessibility of real estate data.
Change of Legal Form
This article follows up on the article in the previous issue titled "Transformative Legal Changes: Slovakia's New Transformations Landscape" where colleagues outlined the permissible changes in legal form in the Slovak Republic.
Understanding Corporate Power Purchase Agreements (PPAs) in Greece
The renewable energy sector has seen significant growth and transformation over recent years, and Greece is no exception. With almost 45% of its total energy production coming from Renewable Energy Sources (RES) like solar and wind power, Greece is experiencing a shift towards more sustainable energy solutions.
Amendment to the ESG Act
The amendment to the ESG Act was published in the Hungarian Official Gazette of 17 April 2024 and entered into force in May 2024.
The Procedure of Subsequent Verification of Proof of Origin of Goods
New Customs Law brought about additional certainty in social relations – the subject law clearly envisages in its Article 35 that the customs authority may, in the procedure of post-release control/examination, verify the existence, authenticity, accuracy, and validity of any accompanying document.
New Category of Pre-Emptors Involved in the Purchase of Extra Muros Farmland?
A recent legislative amendment to Law no. 17/2014, concerning certain measures regulating the sale of extra muros agricultural land, which also amends Law no. 268/2001 on the privatisation of companies managing public and private state-owned agricultural land and the establishment of the State Domains Agency (“Law 17”), has been proposed in the Romanian Senate. This amendment aims to introduce a new category of pre-emptors: owners of land adjoining extra muros arable land, regardless of the location within or outside city limits and regardless of the land use category.
Hungarian Government Extends Reduced VAT Rate for New Homes
Finance Minister Mihaly Varga announced on 4 May 2024 that the Government will prolong the preferential VAT regime for new homes for an additional two years.
Strict Amendment to the Law: Compulsory Liability Insurance for Certain Electric Scooters, Segways, and Small Tractors
According to a statement made by the Association of Hungarian Insurers, from 16 July 2024, the range of vehicles for which compulsory motor vehicle liability insurance must be taken out will be extended.
Amendment to the Employment Act: Overview of New Provisions Applicable from July 2024
With effect from 1 July 2024, the amendment to the Employment Act introduces several changes, particularly in the area of employment of foreigners. Below is a summary of the most important changes.
Privacy vs. Safety: Facial Recognition Systems
Facial recognition has recently become something mundane: for example, every day we can see smartphones that offer the option to unlock the phone using the owner’s face.
New Function on NAV’s Mobile Application: Checking Data on Employment
With a new function on the National Tax and Customs Administration’s (NAV) mobile application (“NAV Mobile”), anyone can check whether their employer has notified the tax authority about their employment in accordance with the employment contract.
Bulgaria Re-Launches Han Tervel Block Oil & Gas Exploration Tender
The long-awaited Han Tervel tender procedure has been opened for bidding following the adoption of the Council of Ministers’ decision dated 23 August 2023 and its recent publication in the Official Journal of the EU.
United States and Ukraine Sign 10-Year Security Agreement
The United States and Ukraine have entered into a 10-year bilateral security agreement (“Security Agreement”), providing a framework for continued US support for Ukraine’s defense and deterrence capabilities, as well as for Ukraine’s economic recovery and reconstruction.
Ukraine: The Appeals Chamber of the Ukrainian National Office for Intellectual Property and Innovations Has Resumed Operations
On 18 June 2024, by Order of the Ukrainian National Office for Intellectual Property and Innovations ("UANIPIO") No. 93/2024, the personnel of the Appeals Chamber of the UANIPIO ("Appeals Chamber") was approved. Notwithstanding the challenges associated with the war, the Appeals Chamber has resumed work.
Thanks to the Hungarian Competition Authority’s Decision Viber Has Become More Secure and More Transparent
In February 2020 the Hungarian Competition Authority initiated a competition supervisory procedure against Viber Media (operator of the Viber app, seated in Luxembourg) which was likely to infringe the prohibition of unfair commercial practice against consumers. During the procedure, Viber made commitments aiming at the avoidance of penalties. The procedure ended on 16 May 2024 with a decision where the authority, without finding an infringement or lack of infringement, obliged Viber to fulfil its commitments.
Employment Brief: Bulgaria Switches to Electronic Labour Records
Bulgaria has outlined a procedure for electronic labour records (ELR) in a draft Ordinance published for public consultations on 21 May 2024. The switch to ELR will take effect on 1 June 2025, as stipulated by recent amendments to the Labour Code. This represents a significant step in the long-awaited digitalisation of employment records.