The Hungarian Parliament has recently adopted an amendment to the Hungarian Competition Act, in Act LV of 2022, which will enter into force on 1 January 2023 (the “Amendment”).The changes include increased general turnover thresholds, clarification on notifications under the so called “soft threshold” regime, exemption of temporary acquisition of control by investment funds and fund managers, and changes regarding the calculation of fines imposed by the Hungarian Competition Authority (the “HCA”) in the case of implementation of concentrations without clearance (gun jumping), and procedural fees. Increased general turnover thresholds The general turnover thresholds have been increased from HUF 15 billion to HUF 20 billion (approx. EUR 48.8 million), and from HUF 1 billion to HUF 1.5
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