[ESTABLISHING A BUSINESS ENTITY IN HUNGARY]
247
247
Limited liability company (Kft.)
Private company limited by shares (Zrt.)
▪
▪ Election of a supervisory board is mandatory, if (i) requested by the shareholders controlling at least five per cent of the total votes; or (ii) the number of full- time employees of the company exceeds 200 on annual average and the works council did not waive the employees’ participation right in the supervisory board.
Election of a supervisory board is mandatory, if the number of full-time employees of the company exceeds 200 on annual average and the works council did not waive the employees’ participation right in the supervisory board.
Supervisory board
▪ Appointment of an auditor is mandatory if (i) the company’s yearly revenues exceed HUF 300 million or; (ii) the company employes more than 50 employees; ▪ the auditor is elected by the supreme body.
Auditor
ILN Corporate Group – Establishing a Business Entity Series
Made with FlippingBook Ebook Creator