On Oct. 31, LTH PRL amended the law re lump sum cash payments.
LTH PRL announced that draft law no XIVP-3975 has been adopted, amending article 38-1 of the Law on Competition of the Republic of Lithuania No VIII-1099.
Amendments
In order to encourage natural persons to approach the Competition Council and to reveal the most dangerous infringements of competition law, it is proposed to increase the amount of the lump sum provided for in article 1(2) of the competition law.
The lump sum is 1% of the total amount of fines imposed by the Competition Council for the infringement, for which evidence has been provided by a natural person.
The amount of a lump sum cash payment is calculated by imposing a maximum of 10% of the amount of fines imposed for specific violations of competition law.
Effectiveness
This law comes into force on Jan. 1, 2025, but the Competition Council shall adopt the implementing legal acts of this law by Apr. 1, 2025.
Regulators
LTH PRL
Entity Types
CNSM; Corp
Reference
OG 2024-18900, 10/31/2024; Law 904, 10/30/2024; Bill XIVP-3975, 6/21/2024; Law VIII-1099
