On November 1 amendments to the Law on Competition of the Republic of Lithuania enter into force.
These amendments are in line with the ECN+ Directive intended to empower the competition authorities of Member States to be more effective enforcers and ensure the proper functioning of the internal market.
More specifically, the Directive aims to ensure that national competition authorities have the necessary guarantees of independence, resources, as well as enforcement and fining powers.
The updated Law on Competition clarifies and sets out the rules on immunity from fines or their reduction under which undertakings providing substantial evidence on an anti-competitive agreement to the Lithuanian Konkurencijos tarybamay be exempted from fine or offered a reduction in fine.
Other equally significant changes concern the codification of parental liability for undertakings forming a single economic unit and succession so that companies could not escape fines through corporate re-structuring.
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