New Austrian Covered Bond Act implements EU Covered Bonds Directive
The Austrian legislator has transposed the EU Covered Bonds Directive1 into national law by en-acting a new Austrian Covered Bond Act on 10 December 20212 which comes into force on 8 July 2022.
Amendments to the Bulgarian Consumer Protection Act
The Bulgarian Parliament recently adopted a number of amendments to the Bulgarian Con-sumer Protection Act (“CPA”). The changes are primarily aimed at transposing Directive (EU) 2019/2161 of the European Parliament and of the Council of 27 November 2019 amending Council Directive 93/13/EEC and Directives 98/6/EC, 2005/29/EC and 2011/83/EU of the European Parliament and of the Council as regards the bet-ter enforcement and modernisation of Union con-sumer protection rules (“Directive 2019/2161”). Below we provide a brief overview of some of the changes.
New CJEU judgments on judicial review of unfair terms in con-sumer contracts
In May, the CJEU ruled on several preliminary questions brought by the Spanish, Italian and Ro-manian courts concerning the interpretation of Council Directive 93/13/EEC of 5 April 1993 on unfair terms in consumer contracts.
Garage Sales – Problems Solved?
Long-standing practical problems might be set to disappear after certain legislative changes were recently introduced in Hungary. The new rules seek (and have hopefully found) the solution to two key problems: firstly, compliance with re-quirements applicable to rights of first refusal con-cerning parking spaces in a condominium garage will be more regulated and clear-cut, and sec-ondly, condo associations might have an easier time registering garages and parking spaces as individual properties. The rules took effect on 2 May 2022, and so it is too early to tell just how effective and actually beneficial they are, but the legislative intent is a cause for optimism in itself.
Romania – Transposition of the Omnibus Directive
In May, the Romanian Government issued two normative acts that aim to transpose into national law Directive (EU) 2019/2161 as regards the bet-ter enforcement and modernisation of Union con-sumer protection rules (Omnibus Directive).
New construction legislation in the Slovak Republic
On 7 June 2022 the recodified construction legislation consisting of two separate acts - Act No. 200/2022 Coll. on Spatial Planning (herein-after also referred to as "SP") and Act No. 201/2022 Coll. on Construction (hereinafter also referred to as "CA") was published in the Collection of Laws of the Slovak Republic. These two new Acts will replace one original Act No. 50/1976 Coll. on spatial planning and building regulations (Building Act) as of their effective date 01.04.2024.