Competition Act.
The amendment of the Competition Act submitted by the Swiss Federal Council for parliamentary debate on November 7, 2001, has been enacted by Parliament on June 20, 2003. It may be recalled that, among other modifications, the amendment provides for a system of non-mandatory preliminary notification of potentially unlawful agreements and practices, the power of the FCC to impose direct administrative fines on members of a hardcore cartel and on undertakings abusing their dominant position (the fines can reach up to 10 % of the turnover achieved in Switzerland during the last three financial years) or the power to reduce or to omit fines when cooperation with hardcore cartel members allows the cartel to be discovered or suppressed, and the removal of the specific notification thresholds in the media sector.
