The Competition Commission, with its unanimous decision, proceeded to update and supplement the guidelines for the calculation of fines following the amendment of Law 3959/2011, based on the provisions of Articles 25 and 25B of the aforementioned law.
The main purpose of the guidelines is to set out the methodology that the CA will use when imposing fines on businesses that violate competition rules.
The present guidelines, which replace the previous guidelines established in 2006, aim on the one hand at greater convergence with the relevant rules in force in the European Commission, and on the other hand at the imposition of stricter fines on companies that violate the provisions of Law 3959/ 2011 and/or articles 101 and 102 TFEU for the prohibition of horizontal agreements of a cartel nature and other restrictive business practices.
In order to achieve the objective of imposing sufficiently high fines, which will have a specific deterrent effect on the undertakings involved and a general deterrent effect by deterring other undertakings from adopting practices contrary to the competition rules, the EA will be able to include in the calculation of of the basic amount of the fine an additional amount, which will vary between 15 and 25 % of the value of the gross revenue, regardless of the duration of the infringement. In particular, the purpose of this option is to strengthen the deterrent nature of the fine, so that companies do not engage in illegal practices even for a short period of time.
For the full text of the new guidelines see here.
Source: Capital
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