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Federation Council approves third antimonopoly package

15:04 29/11/2011

MOSCOW, November 29 - RAPSI. The Federation Council approved laws composing the third antimonopoly package in a meeting on Tuesday.

Competition law, the Criminal Code, the Code of Administrative Offenses and other legislative acts will be amended. The amendments specify the process for recognizing monopolistic prices.

Specifically, the laws state that it is impermissible to declare a price as monopolistic if it was formed during exchange auctions. The amendments provide for reducing the list of bans on agreements, agreed actions and reasons for acknowledging such agreements as collusion.

The amendments also grant additional guarantees to individuals against whom a criminal case has been initiated for violating antimonopoly laws. For instance, the minimum required period has been established for analyzing goods on the market. The period has been set at one year.

Under the amendments, a register of individuals will also be formed, who have been brought to administrative liability.

Antimonopoly bodies will be granted the right to annul public tenders held in violation of established regulations, maintain registers of individuals who have abused their authority, and maintain a register of officials who have been brought to liability for limiting competition.

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Federation Council approves third antimonopoly package

15:04 29/11/2011 The Federation Council approved laws composing the third antimonopoly package in a meeting on Tuesday.
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