The development of the Hungarian competition law – from the outset (1991) until 2007
This chapter aims to give a general overview of the Hungarian competition regime, the elaboration of the competition law in the late 1980s and how the legal regime has developed in this important field of law over the years. Act No. LVII of 1996 ‘on the Prohibition of Unfair and Restrictive Market Practices’, the Hungarian Competition Act in force (1996 CA), will serve as the basis for the analysis. However, the overview will also cover the previous Competition Act of the country – in this way the evolution will be analysed in detail from the mid-1980s, when the drafting process of the first modern Hungarian competition law began. At that time, the Competition Act was drafted as one of the most important pieces of legislations of any market economy. Therefore, the elaboration of the Competition Act was an essential step away from the centrally planned economic regime towards a market-oriented one.