The phrase "between husband and wife" in Article 278/3 of the Bankruptcy and Enforcement Code No. 2004 [“BEC”] was annulled by the Constitutional Court on March 22, 2022. The annulment will take effect 9 months after its publication, on December 22, 2022.
Law 72/2022 on the enforcement of a tax amnesty for tax liabilities, including interest and penalties for late payment, imposed by the tax authorities following the reclassification of daily allowances as salary, was published in the Official Gazette on 31 March based on a bill submitted in September 2021.
Romania is a European Union member state located in the south-eastern part of Europe, with a surface of 38,397 square kilometres and a population of 19.41 million. Romania is positioned in the vicinity of several large markets, including the European Union, the CIS states and the Middle East, and is crossed by three pan-European transport corridors: no. 4 linking Europe from West to East, no. 9 from North to South and no. 7 facilitating inland water transportation on the Danube.
In view of the sustained rise in the prices of electricity and natural gas, the Romanian Government has been under increased pressure to extend the consumers support measures first introduced under Government Emergency Ordinance no. 118/2021 on the establishment of a compensation scheme for the consumption of electricity and natural gas covering the period 1 November 2021 – 31 March 2022, which received Parliamentary approval and further amendments under Law no. 259/2021 (Law 259/2021), as both have further been amended.
On March 4, 2022 the Turkish Competition Authority (“Authority”) published the Communiqué No. 2022/2 on the Amendment of Communiqué No. 2010/4 on the Mergers and Acquisitions Subject to the Approval of the Competition Board (“Amendment Communiqué”). The Amendment Communiqué introduces certain new regulations concerning the Turkish merger control regime, which will fundamentally affect the notifiabiliy analysis of the transactions and the merger control notifications submitted to the Authority.
One of Ukraine’s legal responses to Russia’s full-scale aggression was a legislative initiative aimed to confiscate the property of the aggressor state. On 3 March, the Ukrainian Parliament put this initiative into practice by adopting the Law of Ukraine “On Basic Principles of Confiscation of Property Held in Ukraine by the Russian Federation and its Residents” (“Law”), and on 10 March, the Law was signed by the President.
Recently, the Serbian Parliament has adopted new Law on Innovation Activity. This Law is a part of the Strategy of Scientific and Technological Development for the period from 2021 to 2025, whose basic motto is "The Power of Knowledge", which was adopted by the Government of the Republic of Serbia last year. Serbian digital community welcomed the adoption of the mentioned law, bearing in mind that the digitalization of the domestic economy has reached its peak in recent years, which was significantly contributed by the Covid-19 pandemic. In addition to the above, the Serbian startup ecosystem was recognized as “the most promising one” according to the report of the "Start-up Genome" (an organization specialized in following and reporting about worldwide Start up ecosystems). As the report states, the reason for this is quality professional staff and favorable tax treatment.
The end of year 2021 marked the 10th anniversary of the enactment of EU Regulation No. 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency (hereafter “REMIT” or “the Regulation”). On this occasion, the 5th REMIT Forum was organized as a series of virtual events on 25, 26 and 28 October 2021 (“2021 REMIT Forum”). The introductory webinar to REMIT and the main plenary session were followed by special interest groups sessions on data, reporting and technology as well as on the 6th Edition of ACER Guidance on the application of REMIT (“ACER Guidance”). Conclusions of the 2021 REMIT Forum will be revealed in different contexts throughout our own series of articles aimed at marking the occasion.
Katya and Mike are startup founders. Their small software-based company has grown tenfold in the last year and a half, primarily due to the innovative UX of their app and excellent yet cheap marketing campaign on social media. While Katya is the technical wizard with a degree in data sciences and design, Mike, the finance expert, holds the business end of their young venture. Still, as much as they worked hard bootstrapping and crowdfunding, they are painfully aware that, without further institutional investments, their future growth will be very limited and definitely below the potential of their solution.
With the amendment dated November 24, 2021 to the Bankruptcy and Enforcement Code No. 2004 [“BEC”] the sale of seized assets was to be conducted fully in an electronic environment. However, it was provided that the implementation of this provision would begin with the adoption of the relevant regulation.
For the existence of joint controllership, it is sufficient that both controllers determine purposes and means of processing in one or more segments of processing activity. Lack of control over data flow in other segments of processing activities does not release controllers from responsibility for the part/s where they determine purposes and means of processing jointly. This means that in one part of processing activity, controllers can act as joint, while in other parts they can act as independent controllers. The purposes and means of processing for controllers can be different. It is important that decisions of both controllers on purposes and means of processing are inextricably linked, meaning that processing of personal data in the particular case would not be possible without the said decisions of the controllers.