An Amendment to The Business Competition Act, 654

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An Amendment to Create an Anti Monopoly Commission .
Passed on 7 June 2023, 10 Aye, 04 Nay, 03 Abstain.

Article 3 - Creation of the Anti-Monopoly Commission

3.1 - An Anti-Monopoly Commission is being created under the Ministry of Labour and Commerce.
3.2 - The Anti-Monopoly Commission is formed by the Minister of Labour and Commerce at his discretion.
3.3 - The Anti-Monopoly Commission is authorized to fine enterprises for using non-market methods of competition.
3.4 - Non-market methods of competition are equated with:
3.4.1 - A statement about the non-existent properties of a product or service.
3.4.2 - Not informing consumers about the properties of the product or service
3.4.3 - Establishment and/or maintenance of monopolistically high or monopolistically low prices of goods and or services.
3.4.4 - Withdrawal of goods or services from circulation, if the result of such withdrawal was an increase in the price of the goods.
3.4.5 - Economically unjustified reduction or termination of production of goods, if there is demand for this product or orders for its delivery are placed, if there is a possibility of its cost-effective production.
3.4.6 - Economically unjustified refusal to conclude a contract with buyers if there is a possibility of production or supply of the corresponding goods or services.
3.4.7 - Creation of obstacles to access to the commodity market or exit from the commodity market to other economic entities.
3.5 - The amount of the fine is set at 5% of the market capitalization of the enterprise and is doubled for each fine of the enterprise.
3.6 - The Anti-Monopoly Commission is funded by 1 000 000 florins per quarter.

Tabled by von Zeppelin, MGA, CKA, as an independent member’s bill.

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