Amendments have been made to the “Law on Protection of Economic Competition” and a number of related laws, which will enter into force on May 31.

There will be reforms and amendments in all areas of the Institute for the Protection of Economic Competition. Preventive functions are also provided.

According to Shushan Sargsyan, businesses often apply to the commission to get the position of the commission, in order to understand whether their this or that action will lead to unfair competition or not. For example, the use of a trademark, product labeling, etc. At present, the commission does not have the authority to provide such a conclusion, and according to the new amendments, it will be authorized to give its opinion.

According to the expert, the assessment of concentrations by the commissions is also of important preventive significance.

Shushan Sargsyan notes that the sanctions imposed by law have not been tightened or increased.

The economic entity may be fined up to 10% of the income in case of distortion of the competitive situation. An example of such a violation is the abuse of a dominant position.

Penalties will also be applied for violations for which the normal operation of the commission has not been ensured. For example, for not submitting the required information, the business will be fined up to 5 million drams.