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- Title
THE SPECIAL REQUIREMENTS APPLICABLE TO THE MANAGEMENT OF NATIONAL ASSETS, WITH A SPECIAL RESPECT TO THE REQUIREMENT OF TRANSPARENCY?
- Authors
Lehoczki, Zóra Zsófia
- Abstract
The Fundamental Law of Hungary states that the property of the Hungarian State and of municipal governments shall be considered national assets. National assets shall be managed and protected for the purpose of serving the public interest, satisfying common needs and preserving natural resources, taking also into account the needs of future generations.1 Economic operators - such as companies - owned by the State or municipal governments shall conduct business prudently and independently, in accordance with the relevant legislation, under the requirements of legality, efficiency and effectiveness.2 The special requirements regarding the management and safeguarding are laid down in Act CXCVI of 2011 on National Assets (hereinafter: National Assets Act) and Act CVI of 2007 on State Property (hereinafter: State Property Act) also contains a few requirements in its preamble. Based on the above, national assets shall be managed and protected in a special way, compared to privately owned assets. Publicly owned enterprises play a very important role in the national economy, since they provide a significant amount of GDP, they employ numerous people, they usually provide public services and last but not least they manage public funds. As a consequence, these companies shall also manage their assets with respect to the special requirements. In our article, we introduce these requirements by examining their content and also their relationship towards each other. One of the most important requirements is transparency, since these enterprises manage public funds and according to the Fundamental Law, every organization managing public funds shall publicly account for the management of those funds. Public funds and national assets shall be managed according to the principles of transparency and of corruption-free public life. Data relating to public funds or to national assets shall be recognized as data of public interest.3 We lay a special emphasis on transparency by introducing the relating regulation and also by summarizing the most prominent statements of court decisions from the last few years. In their judgements the courts interpreted the requirement of transparency in connection with state-owned enterprises and the relationship between transparency and the protection of business secrets and business interests of the companies. With respect to the fact, that the Supreme Court of Hungary created a special group in order to examine the practice of these proceedings, we only analyse a few of the related judgements, adjudicated by the Metropolitan Regional Court. The reasons of this method are twofold, firstly, the thorough examination of more relevant court decisions would extend beyond the purpose of the present paper that is to present a more general summary related to the legal requirements applicable to the management of public assets. Secondly, the judgements chose to be analysed in this paper and brought by the Metropolitan Regional Court are final and binding decisions, hence their content may not be appealed by any of the parties.
- Subjects
ASSET management; PUBLIC interest; HUNGARIAN politics &; government, 1989-; APPELLATE courts; NATURAL resources
- Publication
Debreceni Jogi Műhely, 2020, Vol 17, Issue 3/4, p85
- ISSN
1787-775X
- Publication type
Article
- DOI
10.24169/DJM/2020/3-4/8