The first Hungarian competition law came into force 100 years ago

By: Trademagazin Date: 2024. 03. 01. 11:21

A century ago, in 1924, Article V of the 1923 Law on Unfair Competition entered into force. On the occasion of the jubilee anniversary, the Economic Competition Authority and the Hungarian Competition Law Association organized a joint professional conference at the headquarters of the national competition authority.

Balázs Csaba Rigó, the president of the GVH, emphasized in his opening speech:

“The Basic Law of Hungary clearly states – Hungary ensures the conditions of fair economic competition. Hungary acts against the abuse of its dominant position and protects the rights of consumers. “The Economic Competition Office has been active in the service of this noble and extremely important task for more than 33 years now.”

“In Hungary, competition law goes back more than 100 years, even if this is curtailed by the decades of the communist crisis, when economic competition – along with several other democratic and social principles – had very little importance.”