An Amendment to The Business Competition Act, 654

An Amendment to the Business Competition Act, 654

An Amendment to Create an Anti Monopoly Commission .
ACTIONED on ## month ####, ## Aye, ## Nay, ## Abstain.

Article One - Creation of the Antimonopoly Commission

3.1 - An Antimonopoly Commission is being created under the Ministry of Labor and Commerce.

3.2 - The Antimonopoly Commission is formed by the Minister of Labor and Commerce at his discretion.

3.3 - The Antimonopoly 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 Antimonopoly Commission is funded by 400,000 florins per year.

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