By Iosif Abramovich. Ostrovitdi8anov, Konstantin Vasil'evich, Lapidus
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Extra resources for An outline of political economy: Political economy and Soviet economics
Mergers in specific sectors Currently the Commission is in the process of negotiating with the Central Bank of Armenia to sign a Memorandum of Understanding on cooperation aimed at unifying efforts in effective protection of competition in the banking sector. 10. Cooperation with other competition authorities With regard to the Commission’s cooperation with international organisations (other than its involvement within the ICN and its cooperation with the OECD, UNCTAD, the World Bank and the WTO), the Commission cooperates with EU-funded projects and with the Organization for Security and Cooperation in Europe (OSCE) as well.
In case the activity conducted in the previous year lasted less than 12 months, the infringement stipulated in this part shall lead to imposition of a fine upon the economic entity–concentration participant at the rate of 4% of proceeds (however not exceeding five hundred million AMD) of the year preceding the concentration but not exceeding 12 months’ period. 5. Action of unfair competition shall lead to imposition of a fine at the size of five hundred thousand AMD. Repetition of an infringement stipulated in this part during one year shall lead to imposition of a fine at the size of one million AMD.
At the completion of a Basic Review, the Commission’s decision and summary analysis is posted on the Commission’s website. Comprehensive Review: All other non-confidential mergers are subject to a Comprehensive Review which involves two distinct review phases. Phase I usually lasts 6 to 8 weeks from the date submissions are received, including a 2 to 3 week market inquiry process. If no substantial competition concerns are identified, the Commission will grant informal clearance at the end of Phase I.