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The study examines the new act on business associations passed in 2006. It concludes, that the general principles, the structure of the Hungarian corporate law have remained unchanged since 1988, however, because of the practical demands and the European legal harmonization requirements a new act on business associations was necessary. The new act introduced several entrepreneur-friendly legal institutions and carried out a significant deregulation as well

The Third Act on Business Associations - Law Conceived in the Spirit of Deliberate Progress