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Legal Developments in Austria

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Bulgaria: Draft Law Implementing BRRD Needs to be Amended to Provide "Appropriate Protection" for Cl

    On 10 July 2015, the Bulgarian parliament passed, at first reading, a bill intended to implement the EU Bank Recovery and Resolution Directive (BRRD). When that bill becomes law, it will provide, inter alia, increased protection for the close-out netting arrangements involving Bulgarian banks in distress. However, the bill must be amended in order to provide "appropriate protection" for close-out netting as required under the BRRD.  read more... 
  • Hungary: Easement on Loan Portfolio Transfers

    The Hungarian Parliament has adopted an amendment to the Hungarian Banking Act (entering into force on 7 July 2015) that provides for the regulation of loan portfolio transfers.  The amendment aims to make Hungarian banks' lives easier by deviating from the general rule of the Hungarian Civil Code which normally requires a borrower to agree to the transfer between lenders and terminates all security interests, unless the security provider likewise agrees. read more...
  • Austria: Reform Proposals Seek to Clarify Breach of Trust

    The debate around Section 153 of the Austrian Criminal Code, relating to the offence of breach of trust, is now entering the next round. The question as to whether the legislature will heed the Austrian business community's call for urgent reform could be answered toward the end of this year. Read more...
  • EU/Austria: Implementation of the Water Framework Directive

    As one of its main environmental objectives, EU Directive 2000/60/EC ("Water Framework Directive" – WFD), in concreto its art 4, requires all Member States to achieve – subject to several exemptions, such as the possibility to extend the timeframe – the "good status" of all surface water bodies and groundwater bodies by 22 December 2015. read more...
  • Austria: Far-reaching implications of tax reform

    The draft tax bill introduced in the Austrian Parliament last week will implement the most significant tax reform in the country's history. read more...
  • Turkey: Will the Constitutional Court's Latest Cancellation of the Provisions of the Trademark Decre

    Trademark or/and service mark  applications can be filed in Turkey in accordance with the Decree Law No. 556 (“Decree Law”) enacted in 1995. read more...
  • Turkey: Law Bolsters Health Care PPP Program

    For the last few years, Turkey's hospital campus programme, also known as hospital PPP's, has been one of the most discussed topics in the country's infrastructure sector and legal environment. read more...
  • Home office expenses - New flat-rate indemnity

    In its new "Administrative instructions 2015/2", the NSSO has now set the maximum indemnity for home office expenses at 119,61 EUR per month.
  • Austria: Start-ups – Common Legal Issues

    Austria recently experienced a significant boom in start-ups(1) and has produced some major international players (eg, Runtastic, bwin, last.fm and Whatchado). That said, starting a business in Austria requires an understanding of the peculiarities of the legal system. This update discusses some of the common legal risks and issues that come along with starting a business in Austria. read more...
  • Austria: New Rules for Real Estate Transfer Tax on Share Deals

    In mid-May 2015, the Austrian government published the text of the changes in the country's tax system that will enter into force on 1 January 2016. One aspect of these impending changes that has not yet been subject to wider discussion is a modification in the rules to the Real Estate Transfer Tax ("RETT") on Share Deals.  read more...