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

The Competition Council is empowered to accept commitments proposed by the parties in phase 1 or to order obligations and/or conditions for authorization in phase 2. 

Furthermore, where the Competition Council finds that a concentration has been implemented before it declared it incompatible with a normal competitive environment, it may impose on the parties to dissolve the entity resulting from  …

Conditions and commitments - Divestiture

The Competition Council is empowered to accept commitments proposed by the parties in phase 1 or to order obligations and/or conditions for authorization in phase 2. 

Furthermore, where the Competition Council finds that a concentration has been implemented before it declared it incompatible with a normal competitive environment, it may impose on the parties to dissolve the entity resulting from the concentration, in particular by divestiture of the assets acquired, in order to re-establish the situation prevailing before the transaction.

Failure to notify or implementation of a concentration declared incompatible by the Council exposes undertakings to fines of 0.5% to 10% of their turnover.

Providing false or misleading information is punishable by a fine of 0.1% to 1% of the total turnover achieved by the undertakings concerned in the previous fiscal year. 

The final amount fined takes into account gravity and duration of the infringement.  

Following Government Ordinance No 39/2017 of 31 May 2017 on damages actions, where a sanction is imposed on a “non-resident person” for a breach of the duty to notify or performance of a merger before clearance or despite a decision of incompatibility, the turnover to which the fine applies is the sum of the following: i) the turnover achieved by each of the companies registered in Romania, controlled by the offender; ii) income obtained in Romania by each of the non-resident enterprises controlled by the offender; iii) own revenues, obtained in Romania by the offender and recorded in its individual financial statements. A “non-resident person” is defined as any foreign person, as well as any other foreign entities, including collective investment undertakings without legal personality, not registered in Romania, according to the law.

Lastly, daily penalties of up to 5% of the undertakings' daily turnover may also be imposed for failure to comply with an order imposing obligations or conditions.

Global Competition Law

626. Conditions and commitments - Divestiture

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Les notions juridiques connexes

626. Conditions and commitments - Divestiture

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