Legal Alert: Ukrainian Parliament adopted significant amendments to the legislation
According to the new Law, the Anti-monopoly Committee of Ukraine (the AMCU) should investigate economic competition infringement for up to two years (however, depending on the severity of the violation this period may be 5 years maximum). At the same time, if the AMCU`s decision is not passed down within the mentioned term, the case should be closed if such infringement was not proven.
The parties of the AMCU investigation will have the right to recall the AMCU authorized person in case of any conflict of interests with them.
In accordance with the amendments, business entities that are under the AMCU investigation may ask the authority to organize official meetings to discuss factual, economic and legal issues regarding the case. Despite the fact that this possibility was applicable in practice, now it will be also envisaged and regulated by law.
In order to speed up the procedure for adoption of a cartel decision, the business entities, which are under the AMCU investigation, may admit the infringement. As a result, a shorter procedure and reduced fine of 20% will be provided to the company, which admits its guilt. Such a settlement should be approved by the court and is not subject to appeal.
The leniency procedure was introduced into Ukrainian legislation previously, but with the introduction of the new amendment into the legislation the procedure will be significantly clarified. Thus, there is not only an exemption for the first Leniency applicant, but also a mitigation of responsibility for the other concerted actions of parties in the form of reduction of the amount of the fine by 50%, 30% and 20%, respectively.
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