HUNGARY Law and Practice Contributed by: Attila Ungár and Júlia Várkonyi, Lakatos, Köves & Partners
4. Planning and Zoning 4.1 Legislative and Governmental Controls Applicable to Strategic Planning and Zoning Strategic planning and zoning are regulated by acts of Parliament, government decrees and ordinances of the local municipalities. Govern - ment decrees and acts of Parliament provide a general framework and apply on a nationwide level, whereas local ordinances provide more specific rules that apply only to their adminis - trative areas. 4.2 Legislative and Governmental Controls Applicable to Design, Appearance and Method of Construction The design, appearance and method of the con - struction of buildings and the refurbishment of existing buildings are governed by legislation. The construction process is also regulated by several laws, including Government Decree 191/2009 (IX.15), known as the “Construction Code”. 4.3 Regulatory Authorities The competent building authority is generally responsible for controlling the development pro - cess through the issuance of building permits and occupancy permits; however, the consent of several other authorities may be required. National or special agencies deal with projects that require special permitting, such as those involving mining or certain infrastructure. As of 2022, approval/recommendation by the National Architectural Design Council is required for the architectural plans and technical specifi - cations of the following, among others: • the State’s high-rise construction projects;
The liquidator is entitled to terminate contracts concluded by the insolvent company. In this case, the counterparty has 40 days from the date of such termination to register with the liquidator any claim it has against the insolvent company arising out of the termination. Obligors can seek time-limited protection from the enforcement of security under Hungarian corporate bankruptcy laws. With limited exceptions, secured assets remain part of the estate of the Hungarian obligor. Upon the insolvency of the Hungarian obligor, such assets will be liquidated by the liquidator as part of the liquidation proceedings (rather than by the secured creditor pursuant to the security) and the proceeds of such liquidation (minus the liq - uidator’s costs) will be distributed to the secured creditors by the liquidator. Any surplus proceeds will then be distributed to the unsecured credi - tors of the insolvent company in accordance with statutory rules. 3.10 Taxes on Loans Hungary has implemented the interest limita - tion rules introduced by the Anti-Tax Avoidance Directive. Notarial fees and registration charges are pay - able in connection with the notarisation and reg - istration of security documents. Fees and taxes are also payable in connection with enforcement procedures.
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