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Ministry of Industries and Innovation

Act No. 14/2011 amending Act No. 44/2005, on Competition, as subsequently amended

This is an English translation.
The original Icelandic text, as published in the Law Gazette (Stjórnartíðindi), is the authoritative text. Should there be discrepancy between this translation and the authoritative text, the latter prevails.

 

 Article 1

A new paragraph is added to Article 9 of the Act as follows:

The Competition Appeals Committee will not consider a complaint unless it is accompanied by an appeals fee.

Article 2

     Article 16 of the Act shall be amended as follows:

  1. The words “Articles 10, 11 and 12” in item a of the first paragraph are replaced by: the prohibition provisions of this Act, settlements or decisions that have been made pursuant to this Act.
  2. A new item is added to paragraph 1 as follows: circumstances or conduct which prevents, limits or affects competition to the detriment of the public interest. Circumstances means among other things, factors connected to the attributes of the market concerned, including the organisation or development of companies that operate in it. Conduct means all forms of behaviour, including failure to act, that are in some way detrimental to market competition without being in violation of the Act's ban provisions.
  3. The first and second sub-paragraphs of the second paragraph shall read as follows: The actions of the Competition Authority may include any measure that is necessary to enhance competition, put an end to violations or respond to actions of public entities that may adversely affect competition. The Competition Authority can apply necessary remedies to amend conduct or structure relating to the issues specified in the first paragraph that are proportionate to the violation that has been committed or to the circumstances or conduct concerned.

Article 3

After item 17(f) of the Act, a new item 17(g) shall be inserted as follows:

A company that submits a merger notification pursuant to Article 17(a) shall pay a merger fee of ISK 250,000 for each merger notification. The fee, which shall accrue to the Treasury, is payable when the merger notification is submitted.

Article 4

Following the word “party” in the first sub-paragraph of Article 41 of the Act shall be inserted: including the Competition Authority.

Article 5

This Act takes immediate effect.

Passed by the Althing on 23 February 2011.

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