As we reported in April 2020, the Hungarian Government issued temporary legislation (Government Decree no. 102/2020), effective until the end of the state of emergency (18 June 2020), which regulated the holding of shareholder and board meetings during the state of emergency. After the end of the state of emergency, some of these rules ceased to have effect, some of them were amended with the purpose of leading corporate governance back to normal. In the context of the reintroduction of the state of emergency from 4 November 2020, the Government also re-introduced the former extraordinary rules on corporate governance in its Government Decree no. 502/2020. (“Government Decree”) effective from 17 November 2020.
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