LITHUANIAN COMPETITION AUTHORITY UPDATES RULES ON IMMUNITY FROM FINES OR THEIR REDUCTION AND ADOPTS RULES ON COOPERATION WITH EU COUNTERPARTS
In relation to the amendments to the Law on Competition adopted by the Seimas, today the Lithuanian competition authority Konkurencijos taryba has updated the Leniency Rules and adopted the Rules on Cooperation with the EU Competition Authorities or Other Counterparts.
Updated Leniency Rules set the procedure for the submission and examination of requests on immunity from fines or their reduction, as well as describes requirements for such requests.
The Rules on Cooperation with the EU Competition Authorities or Other Counterparts include provisions relating to Konkurencijos taryba’s requests to the EU member states on information about the documents concerning the application of Article 101 or 102 of the Treaty on the Functioning of the European Union, also requests on the recovery of fines imposed by Konkurencijos taryba or accrued interest in other EU member states. The document also regulates the rules concerning other EU member states’ referral to Konkurencijos taryba, other cases of cooperation and reimbursement of cooperation-related costs.
Both sets of rules, which were submitted to public consultation, during which feedback was received from the Lithuanian Ministry of Economy and Innovation, will enter into force from 1 November 2020.
The aforementioned rules implement the Directive of the European Parliament and the Council to empower the competition authorities of Member States to be more effective enforcers and ensure the proper functioning of the internal market.