Government Decree 246/2018 (XII. 17.) on the Implementation of Act LVII of 2018 on Controlling Foreign Investments Violating Hungary’s Security Interests.

This Decree sets rules and notification procedures aimed at implementing the provision prescribed by the Hungarian Act LVII of 2018 on Controlling Foreign Investments Violating Hungary’s Security Interests (2018). The text is divided into ten thematic parts, as follows: 1. Designation of the Minister authorized to perform the procedure related to the notification; 2. The scope of activities subject to notification obligation; 3. Detailed rules on the notification and the ministerial procedure related to the notification; 4. The range of organs to be involved in the procedure related to the notification and detailed rules on the procedures of the organs involved; 5. Detailed rules on the foreign investor’s data provision obligation; 6. Requirements for the simplified justification for prohibiting decisions; 7. Detailed rules on the control laid down under Section 9 (1) of the Act; 8. Procedures targeting licensing the activities concerned in Section 7 (2) of the Act; 9. Detailed rules on the criteria for establishing a fine and the procedure of imposing the fine; 10. Closing provisions. The Annex is part of the publication (Annex 1–List of activities subject to notification obligations; Annex 2-Procedures targeting licensing Activities concerned in section 7 (2) of the Act). Activities subject to notification obligation with the scope of the Act on water public utility services are also laid down in this Decree (concerns an activity that is of vital importance for the performance of a social duty – thus especially for health care, the personal and property security of the population, the provision of economic and social public services – or the non-performance of which would have significant consequences due to the disruption in the continuous performance of these duties), among activities subject to notification obligation within the scope of the Act on Natural Gas Supply.