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CERHA HEMPEL Newsletter April 2024

Keep up to date with the latest legal developments in Austria, Bulgaria, the Czech Republic, Hungary, Romania and Slovenia with our CEE newsletter.


European Commission's proposal for a new FDI Screening Regulation

In the midst of geopolitical and economic challenges, the European Commission has proposed five new initiatives to advance its "European Economic Security Strategy", including a proposal for a new FDI Screening Regulation ("DraftFDI Regulation").

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Amendments to the Bulgarian Copyright and Neighbouring Rights Act

With amendments to the Copyright and Neighbouring Rights Act (“CNRA”), adopted in December 2023, Bulgaria has transposed Directive (EU) 2019/790 on copyright and related rights in the Digital Single Market. The main purpose of the amendments is to adapt copyright rules with regard to the digital environment. Below we provide a brief overview of certain important changes.

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New Antitrust Compliance Program Guidelines adopted by the Czech Antitrust Authority

At the end of the last year, the Czech Office for the Protection of Competition (the "Office") issued new official guidelines regarding antitrust compliance programs (the “Guidelines”). The Guidelines became effective on 1 January 2024 and set out the rules under which such a program may be recognised by the Office as a mitigating circumstance resulting in a fine reduction.

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ESG and Sustainability Reports: Similarities and Differences under the Newly Adopted ESG Act

The Hungarian Parliament adopted Act CVIII of 2023 on the Rules of Corporate Social Responsibility to Encourage Sustainable Financing and Corporate Social Responsibility with an Emphasis on Environmental Awareness and Social and Welfare Matters (“ESG Act”), which is designed to transpose the CSR Directive (Directive (EU) 2022/2464) and the draft CSDD Directive into Hungarian law. From 1 January 2024, the new Act has introduced various requirements for certain companies to carry out due diligence and publish reports on sustainability issues.

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Amendments to the Foreign Direct Investments (FDI) regime

Government Emergency Ordinance No 108/2023 (GEO 108/2023) amending and supplementing Competition Law No 21/1996 (Competition Law) and other legislation entered into force on 6 December 2023. GEO 108/2023 introduced a number of changes to the legal regime applicable to FDI in Romania.

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Amendments to the Foreigners Act

The Foreigners Act (Official Gazette, 50/11 et seq., hereinafter the “Act”) fundamentally regulates the legal and factual status of foreigners. The Act regulates the entry of foreigners into the Republic of Slovenia, the acquisition of visas and residence permits, their egress from the country, voluntary departure, and the expulsion of foreigners.

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