The President of the Office for Competition and Consumer Protection (“the OCCP”) has issued proposals to make amendments to the Act on competition and consumer protection. The proposals have been inspired by EU and US competition law. In order to increase the efficiency of the detection of anticompetitive practices, the OCCP has suggested the following:
- Settlement – in exchange for pleading guilty companies to receive a 10% reduction in penalty
- Leniency Plus – undertaking to receive a reduction of 30% in pending anti-monopoly proceedings if it discloses information about another cartel
- Imposition of penalties on people serving management functions who participated in cartel or in the abuse of the dominant position
- Remedies which can be imposed irrespective of the imposition of a financial penalty
The OCCP also proposes to introduce a two-stage procedure in the merger control proceedings – mergers not threatening competition will be analyzed in a Phase I investigation (in 30 days) whereas mergers raising competition concerns will be examined in a Phase II investigation (in 4 months). The OCCP wants to be more transparent during merger control proceedings and inform the parties during the course of the merger control proceedings about its competition concerns. Formal legislative proposals will be issued in a few months.