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IT IS ENVISAGED TO TIGHTEN RESPONSIBILITY FOR ANTI-COMPETITION AGREEMENTS OR ABUSE OF DOMINATING POSITION
Noyan Tapan
Dec 17 2007
YEREVAN, DECEMBER 17, NOYAN TAPAN. At the end of the December 17
special session, the RA National Assembly discussed in the first
reading the bill submitted by a number of deputies of the "Republican
Party of Armenia" (RPA) faction. The bill envisages amendments and
additions to the Law on Protection of Economic Competition.
According to the co-author of the bill, the chairman of the Standing
Committee on Financial, Credit and Budgetary Issues Gagik Minasian,
the proposed amendments and additions aim to prevent cases of
anti-competition agreements and abuse of the dominating position. In
particular, in such cases the profit (income) received by an economic
entity as a result of raising, lowering or maintaing prices was
transferred to the state budget.
It is noteworthy that the current penalty will be retained. According
to it, a fine in the amount of 2% of the revenue received by the given
economic entity in the previous year (but not exceeding 300 million
drams (about 1 million USD) is imposed for signing an anti-competition
agreement or participating in it.
Noyan Tapan
Dec 17 2007
YEREVAN, DECEMBER 17, NOYAN TAPAN. At the end of the December 17
special session, the RA National Assembly discussed in the first
reading the bill submitted by a number of deputies of the "Republican
Party of Armenia" (RPA) faction. The bill envisages amendments and
additions to the Law on Protection of Economic Competition.
According to the co-author of the bill, the chairman of the Standing
Committee on Financial, Credit and Budgetary Issues Gagik Minasian,
the proposed amendments and additions aim to prevent cases of
anti-competition agreements and abuse of the dominating position. In
particular, in such cases the profit (income) received by an economic
entity as a result of raising, lowering or maintaing prices was
transferred to the state budget.
It is noteworthy that the current penalty will be retained. According
to it, a fine in the amount of 2% of the revenue received by the given
economic entity in the previous year (but not exceeding 300 million
drams (about 1 million USD) is imposed for signing an anti-competition
agreement or participating in it.