YEREVAN, DECEMBER 17, NOYAN TAPAN. At the end of the December 17 special session, the RA National Assembly discussed in the first reading the bill submitted by a number of deputies of the "Republican Party of Armenia" (RPA) faction. The bill envisages amendments and additions to the Law on Protection of Economic Competition. According to the co-author of the bill, the chairman of the Standing Committee on Financial, Credit and Budgetary Issues Gagik Minasian, the proposed amendments and additions aim to prevent cases of anti-competition agreements and abuse of the dominating position. In particular, in such cases the profit (income) received by an economic entity as a result of raising, lowering or maintaing prices was transferred to the state budget. It is noteworthy that the current penalty will be retained. According to it, a fine in the amount of 2% of the revenue received by the given economic entity in the previous year (but not exceeding 300 million drams (about 1 million USD) is imposed for signing an anti-competition agreement or participating in it.

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