The Antimonopoly Committee of Ukraine alerts business entities regarding maximum penalties for the failure to obtain the respective permit while to perform economic concentrations

18.06.2012

The Antimonopoly Committee of Ukraine (hereinafter the "AMCU") admonishes business entities not to perform economic concentrations without obtaining the respective prior permit.

Since July 01, 2012 the AMCU will apply maximum punitive sanctions for such legislation violation stated in Clause 12 Article 50 of the Law of Ukraine "On Protection of Economic Competition" (hereinafter the "Law").

In particular, Article 52 of the Law contemplates imposition of fine up to 5% of income (revenue) from sales of products (goods, works, and services) of business entities during the last financial year, prior to the year in which such fine is imposed.