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CERHA HEMPEL Newsletter October 2022

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


ICOs - The future of start-up funding?

Increasing implementation of blockchain technology into business and everyday life eliminates the requirement for trusted third parties to act as intermediaries, for example, for financial transactions and introduces novel ways to raise capital.

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Proposal for a new company form in Bulgaria

Recent draft amendments to the Bulgarian Commercial Act (the “Draft Law”) propose the introduction of a new type of company in Bulgaria: the variable capital company (“VCC”).

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The amendment to the Act on the Register of Beneficial Owners, which aims to unify Czech legislation with European law, is heading to the President for approval

In August, the Czech Senate approved an amendment to the Act on the Register of Beneficial Owners. The aim of the amendment is to bring domestic legislation into line with European legislation, specifically with the so-called AML Directive regulating mechanisms against money laundering and terrorist financing.

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Another two-year grace period for nearly zero-energy buildings

Buildings will only have to meet nearly zero-energy requirements if they are occupied after 30 June 2024 instead of 30 June 2022. 

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Romania – New legislation for the application of the EU Crowdfunding Regulation

At the beginning of August 2022, Law No. 244/2022 on the establishment of measures implementing Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European crowdfunding service providers for business, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937 (Law 244/2022), entered into force.

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Amendment to Act No. 185/2015 Coll., the Copyright Act, as amended, effective from 25 March 2022

Amendment No. 71/2022 Coll. transposed into Slovakian law two directives of the European Union.

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