On 3 March 2021, the Hungarian President ratified the law, that was approved by the Hungarian Parliament on 22 February 2021, and promulgated the MLI in Hungary. The ratification process was completed on 4 March 2021 by publishing the approved bill in the Official Gazette. The MLI usually comes into effect on the first day of the month following a period of three calendar months that begins on the date of deposit by the relevant signatory of his instrument of ratification.