News
NEW COMPETITION RULES
Under the Competition Law, the Commission for Protection of Competition
(hereinafter: the “Commission”) has authority to fine companies for the infringements
of competition rules up to the amount of 10% of their annual turnover worldwide.
The Government of Serbia has recently adopted two decrees related to the payment of the applicable fines for the infringements of competition rules.
1) Intent of a company to infringe competition
2) Gravity, duration and consequences of the infringement
3) The repeated commission of infringements
4) Inducing other companies to infringe competition
5) Performance of actions that bring an end to the infringement.
6) Undertaking measures for removal of effects of infringement of competition (extenuating circumstances)
7) The infringing company’s cooperation with the Commission during the procedure
The deadlines for the payment of fines depend on the financial strength of the infringing company and are between three months and one year as of the receipt of the decision ordering the payment of the fine.
1) Reports the arrangement of which the Commission has had no prior knowledge or has had no sufficient evidence to initiate proceedings;
2) Delivers available evidence related to the restrictive arrangement and/or provides the Commission with information regarding the place where or person with whom the evidence is kept;
3) Has not induced or instigated other companies to conclude or enforce the restrictive arrangement;
4) Is not an initiator or organizer of the restrictive arrangement;
5) Signs a statement undertaking to fully and in good faith cooperate with the Commission
6) Ceases any further engagement in the restrictive arrangement, without delay;
For additional information regarding the above decrees, please do not hesitate to contact us at office@stojkovicprekajski.rs
The Government of Serbia has recently adopted two decrees related to the payment of the applicable fines for the infringements of competition rules.
DECREE ON CRITERIA DETERMINING THE FINES FOR THE COMPETITION RULES INFRINGEMENT
The main criteria for determining the amount of a fine under the Decree are:1) Intent of a company to infringe competition
2) Gravity, duration and consequences of the infringement
3) The repeated commission of infringements
4) Inducing other companies to infringe competition
5) Performance of actions that bring an end to the infringement.
6) Undertaking measures for removal of effects of infringement of competition (extenuating circumstances)
7) The infringing company’s cooperation with the Commission during the procedure
The deadlines for the payment of fines depend on the financial strength of the infringing company and are between three months and one year as of the receipt of the decision ordering the payment of the fine.
DECREE ON CONDITIONS OF EXEMPTION FROM FINES
Pursuant to the Decree, leniency is afforded to a participant in a restrictive arrangement that:1) Reports the arrangement of which the Commission has had no prior knowledge or has had no sufficient evidence to initiate proceedings;
2) Delivers available evidence related to the restrictive arrangement and/or provides the Commission with information regarding the place where or person with whom the evidence is kept;
3) Has not induced or instigated other companies to conclude or enforce the restrictive arrangement;
4) Is not an initiator or organizer of the restrictive arrangement;
5) Signs a statement undertaking to fully and in good faith cooperate with the Commission
6) Ceases any further engagement in the restrictive arrangement, without delay;
For additional information regarding the above decrees, please do not hesitate to contact us at office@stojkovicprekajski.rs