Our Association was founded in 1992 after the issuing of the MRP(ESOP) law. Our aim is to co-ordinate the companies of employee ownership. Employee ownership was possible in Hungary even before the issuing of this law, but the legal regulation gave more opportunities to MBOs² ( Management Buy Out) and the domestic employee ownership in general. 16% of the Hungarian firms work as MRP (ESOP) companies. The average proportion of employee ownership of Hungarian firms is 27%. At more than a half of the ESOP companies ESOP organisations are majority owners.

The changes of the employee ownership are shown in the following chart.

The Hungarian ESOP Association has 96 member organisations in which 26,000 shareholder employees work. Our member organisations cover a great variety of economic activities in Hungary.

Regular activities of our association:

• professional representation
• professional assistance
• education
• recruiting members
• entrepreneurial activities

PROFESSIONAL REPRESENTATION

The Association plays a major role in the legislation connected to the employee ownership in making standpoints and provides assistance for the member organisations in legal procedures.

PROFESSIONAL ASSISTANCE

Our advisory service provides assistance in legal, accounting, tax, and in informatics questions for the member organisations either by phone or in personal meetings. We organise professional meetings, factory visits to encourage the exchange of experiences among MRP companies.

We publish a newsletter ( "MRP Hírlevél") with up- -to-date news and professional questions. We also publish own made informative leaflets and books to widen the range of information available.

EDUCATION

The Hungarian ESOP Association organises local and set-out training courses to give assistance for the ESOP officials and representatives. We hold lectures on different topics during the training sessions, such as:

• legal particulars
• ESOP organisations rules
• accounting (making of reports)
• managing tasks (stock allocation, ESOP/general meetings)
• tax particulars
• special software

RECRUITING MEMBERS

The aim of the association is to extend the number of members not only from the ESOP, but from all others having some kind of employee ownership. It is important to improve and adapt our recent services according to the needs of the Hungarian ESOP(MRP)community.

The Hungarian ESOP Association would like to improve the Hungarian ESOP according to the US and European method.

ENTREPRENEURIAL ACTIVITIES

Our enterprising activities are: building new methods of employee ownership, of preparing companies for privatising applications and of solving legal and accounting problems in this field.

INFORMATICS

The ESOP software made in co-operation with Share-Participation Foundation and those used in every day applications as well as the use of the Internet are taught in our organisation.

Our presence on the Internet increases the possibilities of creating new relations with other organisations and communities like ours.

The Hungarian ESOP Association is working since 1992 for the co-operation between employee owned companies.

Our aims:

• preserving and extending the national Employee Ownership,
• transforming the ESOP as a privatisation technique according to American and European models,
• collecting and processing data and exchanging experience about Employee Ownership in the EU countries.

Our activities:

• professional representation
• professional assistance
• education
• recruiting members
• entrepreneurial activity

Our 96 member organisations are from all part of Hungary.

HUNGARIAN ESOP ASSOCIATION
TULAJDONOS MUNKAVÁLLALÓK ORSZÁGOS SZÖVETSÉGE
H-1149 Budapest, Angol u. 42. ( (36)-1-363-6698 Fax: (36)-1-3832229
E-mail: mrposz@hu.inter.net http://tmsz.ini.hu

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