The Act No. XCIII of 2001 on the cancellation of foreign exchange restrictions and on the amendment of certain related acts was adopted in order to make full scale liberalization more transparent and explicit for jurisdiction, in the sense of which – without a distinct order of an act or Government decree - as of January 1, 2001 legal transactions and acts of
a) residents in inland and abroad,
b) non-residents in inland
with foreign exchange, currency, domestic legal tender, and claims denominated in domestic currency, including those connected with government paper, are to be executed freely.
According to the stipulations of the Government decree 256/2001 of (XII.18) on the titles of international payments, however, resident and non-resident concerned in the legal transaction are obliged to specify - for statistical purposes – the title of the transfer initiated by them or of the credit entry on behalf of their account and of the purchasing and selling of foreign exchange, in case the transaction concerns international payments.
Thus non-residents may get hold of Hungarian government bonds, excluding, the issuer restrained that kind of negotiability.
Currently exceptions are the following securities:
- government bonds: Premium Hungarian Government Bond, Treasury Savings Bill II;
- treasury bills: Interest Bearing Treasury Bill and Treasury Savings Bill.
