This Act provides rules for the partial compensation for damages unlawfully caused in the ownership of private persons by laws listed in Annexes 1 and 2. This Act introduces compensation bonds for the amount of compensation. Compensation bonds shall be used through the privatisation process for the acquisition of assets, shares and arable land. This Act contains special rules concerning the determination of the value of compensation for arable land and the acquisition of arable land with compensation bonds. The National Office for Restitution and Compensation is the competent authority in matters falling under this Act.
Implemented by: Government Decree 104/1991 Korm. in the interest of settling ownership relationships, and on the execution of Act XXV of 1991 on partial compensation for damages unlawfully caused by the State. (1991-08-03)
Amended by: Act No. CCXII of 2013 laying down certain provisions and transition rules in connection with Act No CXXII of 2013 concerning agricultural and forestry land trade. (2014-05-01)
Authors and Publishers
Hungary became a Christian kingdom in A.D. 1000 and for many centuries served as a bulwark against Ottoman Turkish expansion in Europe. The kingdom eventually became part of the polyglot Austro-Hungarian Empire, which collapsed during World War I. The country fell under communist rule following World War II. In 1956, a revolt and an announced withdrawal from the Warsaw Pact were met with a massive military intervention by Moscow.