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The Competition Regulatory Authority (ARC) has approved the Regulation of the Leniency Regime, an instrument that establishes the rules and procedures for processing requests for a reduction in fines applied by the ARC, as provided for in article 26 of the Regulation of the Competition Law.
The regulation aims to encourage companies and other entities that violate the Competition Law to reverse their actions and collaborate with the ARC in investigations, according to a press release received by “Notícias Online”.
The document states that the approved diploma applies to misdemeanour proceedings conducted by the ARC, regarding agreements restricting competition, decisions by associations of companies and concerted practices between companies, provided that their purpose or effect is to prevent, distort or significantly restrict competition, in all or part of the national market.
“It also applies to the request of a party involved in an anti-competitive practice, which has not yet been the subject of a misdemeanour proceeding,” the document reads.
All companies and associations of companies that carry out economic activity in the national territory or that produce effects therein, within the meaning of article 3 of the Competition Law, as well as witnesses, experts or representatives of the complaining or infringing companies that are unjustifiably absent from procedural steps of which they have been duly notified, under the terms set forth in paragraph 3 of article 29 of the same law, may benefit from the reduction of the fine.
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