Friday March 6, 2015 Search
Weather | Athens
20o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Forced actions to replace fines for violation of competition rules

By Dimitra Manifava

The Competition Commission has reached its final decision concerning the terms, conditions and process for the replacement of fines with the undertaking of obligations i.e. forced actions for violating competition legislation. In doing so, the watchdog is aiming to accelerate the procedure, particularly since it provides for companies to state their preference to undertake such obligations at any point in the investigation of their case by the monitoring authority.

The Competition Commission will suspend its monitoring of any company that pledges to take specific actions. However, the watchdog notes that it frowns upon allowing enterprises to agree to commit to obligations after having been notified of the penalties against them.

In an effort to dispel any criticism concerning the possible favorable treatment of certain enterprises, the commission has decided to introduce a consultation process with market professionals and consumer associations regarding the proposed obligations. However, this public consultation will only take place when deemed necessary.

The option of forced actions will not be allowed in cases of price fixing, tender manipulation, output reduction, the application of quotas and distribution of purchases. The replacement of fines or other sanctions with the undertaking of obligations will also be forbidden in serious instances of abuse of dominant market position.

The commission will reserve the right to restart an investigation into companies that submit incorrect or misleading information or fail to implement the obligations they have undertaken. It will then be able to impose fines on them.

ekathimerini.com , Wednesday May 28, 2014 (00:41)  
Cash-strapped Greece repays first part of IMF loan due in March
Greece must repay loans in full, bailout fund head says
Jobless rate starts picking up again
Election lifted consumers mood
Greek reforms list cites tackling evasion, fiscal savings, source says
Greece has promised to fight tax evasion and generate fiscal savings as part of an updated set of reforms sent to euro zone partners ahead of a meeting of finance ministers from the bloc on ...
Greece sends new letter with details on reforms, sources in Brussels say
Greek Finance Minister Yanis Varoufakis on Friday sent a new letter to the Eurogroup essentially fleshing out the six reform proposals that Greece is expected to present at Monday's meeting ...
Inside News
BASKETBALL
Barcelona beats Panathinaikos once more
For the fourth time this season Panathinaikos failed to beat Barcelona, this time in Athens, losing 81-77 on Thursday and denting its chances for a privileged top-two finish in its Euroleagu...
SOCCER
Iraklis, Apollon and Xanthi in Cup semis
The prospect of a second-division team reaching the Greek Cup final has grown considerably after two out of the three teams that made the semifinals this week come from the Football League. ...
Inside Sports
COMMENTARY
PISA, Schengen, mediocrity and isolation
Greeces most serious problem is not the economic and political crisis, though it did contribute greatly to it. At the root of our evil lies our great isolation, not only from our partners i...
COMMENTARY
Balancing the Greek budget: The ancient Athenian perspective
Is democracy good for balancing a budget? For many today the answer is a resonating no. This answer is easy to understand. In the birthplace of democracy, Greece, the states budget is a mes...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Greek reforms list cites tackling evasion, fiscal savings, source says
2. Greece sends new letter with details on reforms, sources in Brussels say
3. Cash-strapped Greece repays first part of IMF loan due in March
4. Greek and German bruisers limber up for rumble in the eurozone
5. Greece must repay loans in full, bailout fund head says
6. BoG chief Stournaras briefs PM Tsipras on ECBs decisions on Greece [Update]
more news
Today
This Week
1. BoG chief Stournaras briefs PM Tsipras on ECB's decisions on Greece [Update]
2. Greece must repay loans in full, bailout fund head says
3. Greek and German bruisers limber up for 'rumble in the eurozone'
4. Cash-strapped Greece repays first part of IMF loan due in March
5. Greece sends new letter with details on reforms, sources in Brussels say
6. Greek reforms list cites tackling evasion, fiscal savings, source says
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. The Greek tax drama
3. SYRIZA feeling the pain
4. Varoufakis to make six reform proposals at Monday's Eurogroup
5. The unlikely winners of Greece's surrender on euro
6. Tsipras reversal draws Greek sympathy as party rumblings rise
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.