'Rogue operators' could face fines up to €10 million for breach of competition law

Businesses who breach competition law could be liable to a fine of €10 million under the new Competition Bill 2022. 

The Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar TD earlier this week received Government approval to publish the Competition (Amendment) Bill 2022 to give more powers to the Competition and Consumer Protection Commission (CCPC) and the Commission for Communications Regulation (ComReg).

It will enhance the ability of the CCPC and ComReg to challenge anti-competitive practices by business and to protect consumers.

For the first time in Irish law, breaches of competition law can be enforced through administrative actions taken by competition authorities, with maximum fines of up to €10 million or 10% of total worldwide turnover, whichever is the greater.

"The vast majority of businesses do not engage in anti-competitive practices, but some do at the expense of consumers and other businesses particular newer and smaller ones.  This ground-breaking new law will give our competition authorities the power to crack down on those rogue operators that do," Minister Varadkar said. 

"Cartels, where they exist, will be broken up and companies abusing a dominant position can be suitably punished with heavy fines of up to 10% of global turnover. It’s really good news for customers.

"These new powers will act as a big disincentive for those taking part in anti-competitive practices, which drive up costs, freeze out start-ups and smaller businesses and lead to bad quality products and poor services," Minister Varadkar said. 

He said the Bill also enables greater cooperation between competition authorities across the EU, allowing them to challenge these practices on a cross-border basis.