Competition Policy Developments in Lithuania in 2013

The most recent Amendment 1 to the Law on Competition of the Republic of Lithuania (hereafter, the Law on Competition 2) were adopted by the Lithuanian Parliament on 23 December 2013 and came into force on 8 January 2014. The Amendment altered Lithuanian provisions on the payment of fines imposed by the Competition Commission by undertakings. Accordingly, the Law on Competition gives now the fined undertakings the right not to pay their fine until the courts adopt a final ruling in their case. However, annual interest for period of the payment delay will be calculated and added to the original amount of the fine. The following review focuses on the adoption and effects of this Amendment