The factor of subjectivity will be excluded in the work of the State  Commission for the Protection of Economic Competition 

ArmInfo.The factor of subjectivity will be excluded in the work of the State Commission for the Protection of Economic Competition.

The RA National Assembly, at its sitting on January 20, in the first reading, introduced  amendments to the Law "On Protection of Economic Competition".  According to Gegham Gevorkyan, Chairman of the State Committee for  the Protection of Environmental Protection, the current law was  adopted 20 years ago, and needs to be radically modernized, taking  into account today's realities. One of the important innovations will  be the introduction of a maximum scale of fines that cannot exceed  the amount of profit of business entities. But at the same time,  Gevorkyan continued, certain specifics are being introduced into the  document. So, for example, at present there is a mechanism for  appealing the decisions taken by the commission in the courts. These  cases can be considered for a number of years, which allows the  subjects for a long time not to pay the fines established by the  SCPEC. Now it is proposed to establish a provision according to  which, if the subject agrees with the arguments of the commission and  his desire to work with it, the amount of the fine cannot be higher  than 50% of the company's income, otherwise the amount of the fine  will be 70%. The head of the commission stressed that the purpose of  the law is to protect and promote freedom of economic activity, free  economic competition, create the necessary conditions for fair  competition, promote business development and protect consumer  interests. The document applies to actions, behavior or actions of  business entities, government agencies, as well as government  officials that lead or may lead to restriction, prevention,  prohibition or unfair competition, as well as damage the interests of  consumers. They also apply to the behavior of economic entities in  foreign countries, which may restrict, prevent or prohibit economic  competition or damage the interests of consumers in the Republic of  Armenia. The law does not apply to relations regulated by the general  rules of competition in cross-border markets, control over which is  attributed to the competence of the Eurasian Economic Commission in  accordance with an international treaty of the Republic of Armenia.  The Commission performs functions in relation to persons regulated or  controlled by the Central Bank on the basis of interaction with the  Central Bank. This law does not apply to relations in the field of  public services, the regulation of which is within the competence of  the Public Services Regulatory Commission.