Regulation of the Business Competition Supervisory Commission No. 1 of 2022 on Business-Competition Compliance Programs
Enforcement Date: 24 March 2022
- Business actors may register their business-competition compliance programs (“Compliance Programs”) with the Chairman of the KPPU, while the KPPU may also relax the imposition of fines upon business actors that have violated Law No. 5 of 1999 on the Prohibition of Monopolistic Practices and Unfair Business Competition if the business actors in question have registered their Compliance Programs.
- Business actors should report the implementation of the formulation of their Compliance Programs to the KPPU. Said reports will then be evaluated by the KPPU at KPPU hearings.
- KPPU hearings will be held in order to stipulate Compliance Programs. Said stipulations will remain valid for five years and can be extended.
More information on this circular is provided in Hukumonline’s publication titled “KPPU Offers Incentives to Business Actors That Register Their Business-Competition Compliance Programs”, as accessible to Hukumonline’s subscribers. For more details on the subscription, please contact Hukumonline’s team at marketing@hukumonline.com.
*This section is provided in collaboration with HukumOnline
