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Parliament approves amended building societies bill

In Hungary

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The Hungarian Parliament today approved the amended version of the National Building Societies (NOK) legislation, which was returned last week to lawmakers by President János Áder, according to reports. 

Antal Rogán, head of the Prime Ministerʼs Cabinet Office, drafted and handed the proposed bill in to Parliament two weeks ago, and it was approved in an expedited procedure. 

Áder returned the proposed NOK bill to lawmakers on March 24, saying that while the goal of the legislation to support home creation for families through state funding is a worthy one, implementing such a law requires the establishment of a transparent organization that can provide appropriate guarantees to those participating in the process, with strict oversight of its operation, according to reports.

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