The new Settlement Procedure concerns cases where undertakings or associations of undertakings make a clear and unequivocal acknowledgment of participation and liability in relation to their participation in horizontal agreements (cartels) and the subsequent breach of competition law (Article 1 of the Greek Competition Act and/or Article 101 TFEU).  As a result, they can obtain a reduction of the imposed fine by 15%, provided that certain conditions are fulfilled. The Procedure allows the HCC to achieve efficiencies through a streamlined administrative process, resulting in a relatively more expedited adoption of infringement decisions regarding Article 1 of the Greek Competition Act and/or Article 101 TFEU. In addition, the settlement procedure provides scope for a reduction in the number of appeals against the HCC’s decisions before administrative courts. In turn, this would allow a better allocation of resources, in order to deal with more cases, thereby increasing the deterrence effect of the HCC’s enforcement action, while simultaneously increasing citizens’ awareness in the effective and timely punishment of undertakings infringing competition law.

One of the key parameters of the new Settlement Procedure is the requirements for settlement, namely the unequivocal acknowledgment on behalf of undertakings or associations of undertakings of their participation to an infringement and the acceptance of their liability in relation to the infringement. In addition, the parties must confirm that, in view of the above, they do not request full access to the file or an oral hearing before the HCC’s Board.