Periodic penalty payment

Periodic penalty payment

Periodic penalty payment in the European Union Law

Concept of Periodic penalty payment provided by the “Glossary of terms used in EU competition policy” (Antitrust and control of concentrations, published in 2002): The Commission may, by decision, impose periodic penalty payments in order to compel an undertaking to stop an infringement of compe-tition rules in accordance with an earlier decision. In such a case, a daily amount is fixed which has to be paid for every day the infringe-ment continues after the date stipulated in that decision. The Commission enjoys the same power where an undertaking refuses to supply complete and correct information that has been requested by decision or to submit to an investigation which has been ordered by decision.

(See: Article 16 of Regulation No 17; Article 15 of the merger regulation.)

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