The president of the Romanian Competition Council has issued Order 13/2001 which establishes the annual turnover threshold referred to in Competition Law 21/1996. The order took effect on February 14 2001.

Pursuant to the order's provisions the turnover threshold that subjects an economic concentration to the control of the Romanian Competition Council, and that triggers a corresponding obligation to notify the council of the operation prior to its implementation, has been increased to Lei65 billion (approximately $2.3 million). The turnover for the purposes of the merger represents the aggregate turnover obtained in Romania by each participating company and by all other companies in the same group.

By law, this threshold is established annually by the Competition Council, with any increase representing an adjustment in accordance with inflation rather than a policy statement in the competition domain.

For further information on this topic please contact Adriana Gaspar at Nestor Nestor Diculescu Kingston Petersen by telephone (+40 1 201 1200) or by fax (+40 1 201 1210) or by e-mail ([email protected]).

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