A DRAFT LAW ON THE DEVELOPMENT OF COMPETITION PROPOSES THE MITIGATION OF SANCTIONS FOR THOSE WHO HAVE IMPLEMENTED ANTIMONOPOLY COMPLIANCE

Antimonopoly compliance is a system of measures to prevent violations of competition law. Since 2017 the antitrust compliance institution started to develop in Kazakhstan, after amending the Entrepreneurial Code. The main advantage of implementing an antimonopoly compliance system for business is minimizing the risks of violating competition laws associated with high penalties and adverse consequences.

This year, the Agency for the Protection and Development of Competition has developed the fifth antimonopoly package, the draft Law of the Republic of Kazakhstan "On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Competition Development", which proposes the further development of the institution of antimonopoly compliance. The norms of the new draft law propose to take into account the existence of an effectively working compliance system as a good practice, encouraged by the state, when considering cases of violations of competition law. That is, companies that have introduced antimonopoly compliance into their activities and are actively implementing it will be able to count on a reduction in sanctions when they are brought to administrative responsibility. Now the bill is under consideration in the Mazhilis of the Parliament.

The APDC of Kazakhstan offers all entrepreneurs its methodological assistance in introducing antimonopoly compliance, this will allow businesses to reduce the risks of violations, which may subsequently result in large fines or even falling into the orbit of criminal prosecution.

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