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Law on protection of competition adopted
Belgrade,
14 September 2005
The Serbian parliament adopted today the Law on protection of competition, which envisages the formation of an anti-monopoly commission for penalising monopolistic behaviour on the market.
The law was supported by 128 deputies, 83 voted against and six out of 217 deputies who were present did not vote.
The objectives of the law are the establishment of a full market economy, equality of market players, improvement of economic efficiency, the rule of law, domination of entrepreneurship and the creation of conditions for a more rapid economic growth.
The law aims to penalise contracts that prevent full competitiveness, first of all through monopolistic agreements on prices, and the dominant position of one economic entity in the control of the market.
Also, the law penalises the association of two or more companies that could jointly control more than 50 percent of the market. In the event that someone controls more than 40 percent of the market, they would have to prove that their behaviour is not monopolistic, and in the case of association with another company, they would have to require the permission of the anti-monopoly commission.
The objectives of the law are the establishment of a full market economy, equality of market players, improvement of economic efficiency, the rule of law, domination of entrepreneurship and the creation of conditions for a more rapid economic growth.
The law aims to penalise contracts that prevent full competitiveness, first of all through monopolistic agreements on prices, and the dominant position of one economic entity in the control of the market.
Also, the law penalises the association of two or more companies that could jointly control more than 50 percent of the market. In the event that someone controls more than 40 percent of the market, they would have to prove that their behaviour is not monopolistic, and in the case of association with another company, they would have to require the permission of the anti-monopoly commission.
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