The Communiqué on the Increase of the Lower Limit of Administrative Fines stipulated under the First Paragraph of Article 16 of the Law No. 4054 on the Protection of Competition until 31 December 2024 was published

The Communiqué on the Increase in the Lower Limit of Administrative Fines to be effective between 1 January 2024 and  31 December 2024 as stipulated under the first paragraph of Article 16 of the Law on the Protection of Competition (“Communiqué“) issued by the Competition Authority, has been published in the Official Gazette dated 20 December 2023 and numbered 32405.

With the Communiqué published in the Official Gazette dated 20 December 2023 and numbered 32405 with the Communiqué number 2024/1, the administrative fine stipulated in Article 16 of the Law on the Protection of Competition No. 4054 (the “Law”) has been determined as TRY 167,473 to be valid from 1 January 2024 to 31 December 2024, based on an increase of 58.46%.

Article 16 of the Law imposes administrative fines on natural and legal persons who are undertakings, associations of undertakings or members of such associations:

• Providing false or misleading information or documents in exemption and clearance applications and applications for authorization for mergers and acquisitions,
• Realization of mergers and acquisitions subject to authorization without the Board’s authorization,
• 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,
• Preventing or making on-site inspection difficult.

You can access the Communiqué through this link. (Only in Turkish)