Lawmakers pass law to freeze assets at scandal-ridden firms

Budapest, March 31 (MTI) – Lawmakers on Tuesday approved a motion which will allow the assets of companies and their executives linked to the recent brokerage scandals to be frozen. The measure will affect company groups, their top executives, members of their supervisory boards and some auditors as well.

The bill submitted last week by Antal Rogan, head of the parliamentary group of the ruling Fidesz party, and Peter Harrach of the Christian Democrats, was handled in an expedited procedure.

The bill, which took the form of an amendment to a law on criminal procedures and judicial procedures, was approved in a vote of 157 to 12.

Under the law, a court can order, based on a motion from a prosecutor, to freeze the assets of companies suspected to have caused damages in excess of 50 million forints (EUR 166,800) during their financial activities. Any company associated with the suspected crime or one which is suspected to have taken advantage of such a crime can be subject to this rule.

The opposition LMP party said before the vote that the party does not support the bill, which, in their opinion only serves the purpose of ruling Fidesz evading responsibility.

Photo: MTI

Source: http://mtva.hu/hu/hungary-matters