Global Competition Law is primarly a practitioner's guide presenting the most salient aspects of the major competition laws country by country, giving an overview of their structure and most charasteristic elements.
Global Competition Law also provides insight into possible future developments in the field.

Global Competition Law

    Pursuant to Section 37 of the Competition Act, the Competition Authority may impose administrative fines on undertakings which either violate the Act or the Council's decisions. Fines cannot exceed 10% of the turnover of each of the infringing undertakings in the previous financial year. The Council may impose periodic penalty payments for non-compliance with its decisions taken under the Act, …

Fines

    According to Section 16 of the Competition Act the Competition Authority may take measures against any kind of act that constitutes infringement of the prohibition provisions of the Competition Act. Measures taken by the Competition Authority can be a ban, an order or authorization with a certain condition.

Cease and desist orders

    Pursuant to Section 37 of the Competition Act, the Competition Authority may impose administrative fines on undertakings which either violate the Act or the Council's decisions. Fines cannot exceed 10% of the turnover of each of the infringing undertakings in the previous financial year. The Council may impose periodic penalty payments for non-compliance with its decisions taken under the Act, until such decisions are complied with (Section 38).  

A decision to impose a fine may be waived if a violation is regarded as insignificant, or for other reasons if no need is seen for such fines for the purpose of promoting and strengthening effective competition. Furthermore, the imposition of a fine may be waived if an undertaking took the initiative in providing the Competition Authority with information or documents relating to violations of Sections 10 and 12 which, in the opinion of the Authority, could lead to investigation or proof of a violation.

Fines may be reduced if an undertaking has taken the initiative in providing information or documents to the Competition Authority concerning violations of Sections 10 or 12, which, in the opinion of the Authority, constitute an important addition to the evidence already in its possession.

Leniency

According to Section 41(a), violations of Sections 10 or/and 12 of the Competition Act may be subject to criminal fines or imprisonment up to six years.

Fines may be imposed on legal as well as natural persons. Suspension of license pursuant to Section 68 of the Penal Code, and confiscation of assets pursuant to Section 69 of the Code, may be decided in proceedings that have their origins in violations of Sections 10, 12 and 41(b) of the Competition Act. An attempt to commit or participation in violations pursuant to this Section is subject to sanctions as prescribed in the Penal Code.

According to Section 41(b), any person who destroys or renders unusable any documents which are significant for an investigation by the Competition Authorities shall be subject to fines or imprisonment up to three years, unless more severe sanctions are provided for under other legislation. Any person who provides the Authority false, misleading or inadequate information shall be subject to fines or imprisonment up to two years.

A legal person may be subject to fines pursuant to the provision of chapter II of the Penal Code for these violations.

Global Competition Law

972. Fines

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Les notions juridiques connexes

972. Fines

Demandez un accès gratuit au contenu exclusif Livv – juristes d’entreprise

Les notions juridiques connexes

Demandez un accès gratuit
au contenu exclusif Livv – juristes d’entreprise