Sunday November 23, 2014 Search
Weather | Athens
18o C
10o 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)  
Fitch keeps Greek rating at B, outlook stable
More cash for banks with same papers
Growth to fuel rise in revenues
Commercial property draws interest from investors
Cyprus on agenda in Biden visit to Istanbul
The prospects for the resumption of stalled peace talks on Cyprus and the issue of energy security were among the matters discussed on Saturday by US Vice President Joe Biden and Turkish gov...
PASOK nixes Papandreou leadership challenge
The junior coalition partner PASOK rejected over the weekend a proposal by the partys former leader and ex-premier George Papandreou for the party to call an emergency congress and a subseq...
Inside News
INTERVIEW
Tokyo hopes to change the world
The 2020 Summer Olympic and Paralympic Games in Tokyo will serve as a springboard for the rebuilding of Japans image and economy following the triple blow of the earthquake, tsunami and nuc...
BASKETBALL
Big win for Greens, tight one for Reds
Panathinaikos scored a crucial as well as emphatic away win at Turow on Thursday that should see it qualify from its tough group to the top 16 of the Euroleague, while Olympiakos saw off vis...
Inside Sports
COMMENTARY
Is Europe paying attention?
Barack Obama brought hope to the entire world when he was elected president of the United States in 2009 and then again in 2012 for a second term. During his first visit to Europe, marked by...
EDITORIAL
A reasonable agreement
Greece cannot and should not allow itself to be left without a safety net to make up for any funding needs that may crop up after the end of the year. Without such protection it would be at ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Cyprus on agenda in Biden visit to Istanbul
2. PASOK nixes Papandreou leadership challenge
3. Troika tests govt nerves as budget rift persists
4. Climate change to hit farming, Greek coastline
5. Piraeus nightclub shooting leaves 3 seriously injured
6. London court to rule on extradition of former judge
more news
Today
This Week
1. PASOK nixes Papandreou leadership challenge
2. Piraeus nightclub shooting leaves 3 seriously injured
3. Fitch keeps Greek rating at B, outlook stable
4. Climate change to hit farming, Greek coastline
5. Cyprus on agenda in Biden visit to Istanbul
6. Troika tests govt nerves as budget rift persists
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
3. Anti-junta uprising anniversary to be marked amid tight security
4. Biden heads to Istanbul amid tension over Cyprus EEZ violation
5. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
6. Every age has its collaborators
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.