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New Merger Control Regulation Enters Into Force Today

March 2016 - EU & Competition. Legal Developments by Karanovic & Nikolic.

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The New Merger Control Regulation, governing the content and the manner of submitting merger filings to the Serbian Competition Commission, entered into force today, 2 February 2016. The new Regulation represents a modern legal document, fully aligned with the relevant EU acquis, and will  significantly facilitate the merger filing process to the benefit of the applicants, as well as the overall efficiency of the Competition Commission.

Karanovic & Nikolic's Contribution on Behalf of the Professional Community

The adoption of the Regulation was preceded by the Commission's intensive consultations with the professional community – the Commission published the working draft of the new Regulation in June last year, allowing interested parties to provide their comments in the meantime. It should be noted that the consultation process included active involvement of Karanović & Nikolić lawyers, and we are proud to say that a large number of our suggestions found their way into the final version of the Regulation.
Universally Positive Expectations for Competition Development

Further support for the new Regulation can be found in the words of Competition Commission's President, Mr. Miloje Obradovic, PhD, who has stated the following for our website: 
"We have worked hard on the new Merger Control Regulation text and we are very pleased with the end result. The main goal of this Regulation was to make the merger filing process as simple as possible for the applicants. Such a process is also in the interest of the Commission, as it enables us to manage our resources more effectively and focus on attaining our main objective – preventing acts which lead to the distortion of competition in the Republic of Serbia."

The Commission's Friendly Reminder

The Commission used the adoption of the new Regulation as an opportunity to once again remind undertakings of their merger filing obligation in all cases when the turnover thresholds prescribed by the law are exceeded. In a statement published on their website, the Commission particularly emphasised its power to fine undertakings that implement a merger without obtaining the Commission's approval, or do not submit the filing within the prescribed time limit, which can be interpreted as an announcement of an increase in the Commission's activities in that respect.

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