Act LVII of 2018 on Controlling Foreign Investments Violating Hungary’s Security Interests (2018).

This Act on controlling foreign investments violating Hungary’s security interests sets measures related to the protection of territorial interests in relation to activities subject to the notification obligation as here specified, which are the following: a) manufacture of weapons and ammunition as well as of military equipment and devices subject to licence, b) manufacture of dual use products, c) manufacture of intelligence devices and equipment specified in the government decree on the detailed rules of obtaining a licence for military activity and certifying businesses, d) provision of financial services specified in the act on credit institutions and financial enterprises and from among auxiliary financial services, the operation of a payment system, e) services governed by the act on electricity, f) services governed by the act on natural gas supply, g) services governed by the act on water public utility services, h) services governed by the act on electronic communications, i) the set-up, development and operation of electronic information systems governed by the act on the electronic information security of central and local government agencies. The text is divided into seven thematic parts as follows: 1. Interpretative provisions 2. Foreign investors’ notification obligations 3. The ministerial procedure 4. The relation of the ministerial procedure to administrative procedures 5. Certain legal consequences related to the ministerial procedure 6. Fine payment obligation 6/A. Financial commitment by the Government 7. Closing provisions.