With the “Communiqué Regarding the Increase of the Lower Limit of the Administrative Fine Stipulated in the First Paragraph of Article 16 of the Law No. 4054 on the Protection of Competition to be Valid until 31/12/2024 (Communiqué No: 2024/1)”, the lower limit of the administrative fine stipulated in the first paragraph of Article 16 of the Law No. 4054 on the Protection of Competition was increased by 58.46% (fifty-eight comma forty-six), which is the revaluation rate for 2023, to be valid from 1/1/2024 to 31/12/2024. 473 TL (one hundred and sixty-seven thousand four hundred and seventy-three liras).
Administrative Fine
Article 16
1) The Board may authorise natural and legal persons and associations of undertakings or members of such associations
a) Providing false or misleading information or documents in exemption and negative determination applications and applications for authorisation for mergers and acquisitions,
b) Mergers and acquisitions subject to authorisation are carried out without the permission of the Board,
c) Providing incomplete, inaccurate or misleading information or documents in the application of Articles 14 and 15 of the Law, or not providing the information or document within the specified period or not at all,
d) Preventing or making physical site inspection difficult,
For the cases specified in subparagraphs (a), (b) and (c), the Board shall impose an administrative fine at the rate of one per thousand of the annual gross revenues of the undertakings, associations of undertakings or members of such associations, which are calculated at the end of the financial year preceding the decision, or if it is not possible to calculate the same, at the end of the financial year closest to the date of the decision and which shall be determined by the Board; and for the cases specified in subparagraph (d), the Board shall impose an administrative fine at the rate of five per thousand of the gross revenues determined in the same manner. However, the fine to be determined on this basis may not be less than one hundred and sixty-seven thousand four hundred and seventy Turkish Liras. The administrative fine pursuant to subparagraph (b) of this paragraph shall be imposed on each of the parties in merger transactions and only on the transferee in acquisition transactions.
2) Carrying out the physical site inspection by a court decision shall not prevent the imposition of the administrative fine stipulated in this Law in relation to the prevention or obstruction of the physical site inspection.
3) Those who engage in the behaviours prohibited under Articles 4, 6 and 7 of this Law shall be imposed an administrative fine up to ten percent of the annual gross revenues of the undertakings and associations of undertakings or members of such associations, which occurred at the end of the financial year preceding the final decision, or if it is not possible to calculate the same, which occurred at the end of the financial year closest to the date of the final decision and which shall be determined by the Board.
4) In case the administrative fines specified in the third paragraph are imposed on undertakings or associations of undertakings, the managers or employees of the undertaking or association of undertakings whose decisive influence on the infringement is determined shall be imposed an administrative fine up to five per cent of the fine imposed on the undertaking or association of undertakings.
5) While deciding on the administrative fine pursuant to the third paragraph, the Board shall take into consideration, in the context of the second paragraph of Article 17 of the Law on Misdemeanours No. 5326 dated 30/3/2005, the repetition of the breach, its duration, the power of the undertaking or association of undertakings in the market, its decisive effect on the realisation of the breach, whether or not it complies with the commitments given, whether or not it assists in the examination, and the gravity of the damage incurred or likely to be incurred.
6) The penalties specified in the third and fourth paragraphs may be waived or the penalties to be imposed according to these paragraphs may be reduced for undertakings or associations of undertakings or their managers and employees who actively cooperate with the Authority for the purpose of revealing the violation of the Law, taking into account the nature, effectiveness and timing of the cooperation and clearly showing the justification.
7) The matters taken into account in the determination of the administrative fines to be imposed pursuant to this article, the conditions of exemption or reduction from fines in case of co-operation, and the procedures and principles regarding co-operation shall be determined by regulations to be issued by the Board.