Law Number 4054 on the Protection of Competition has been substantially amended by Law Number 5728 published in the Official Gazette on February 8 2008. The Amendments provide for: (i) the calculation of fixed fines; (ii) the introduction of new fines to be levied against the directors and employees of the undertakings who exerted decisive influence that resulted in the infringement of the law; (iii) the introduction of a leniency mechanism; and lastly (iv) the collection of fines.
March 31 2008
