August 30^th, 2011

Leniency Program

Article 14 par. 2, point id) bb) and

Article 25 par. 8 of L. 3959/2011

The Hellenic Competition Commission, recognizing the importance and effectiveness of the Leniency Program in combating and dismantling illegal horizontal agreements (“hardcore cartels”), proceeded, by its Decision (no.526/VI/2011), in the reform of the existing program, which was fully harmonized with the Union standards.

By its Decision, the Hellenic Competition Commission adopted a modern incentive scheme in order to reward companies or individuals willing to put an end to their involvement in illegal anti-competitive practices and to cooperate with the Authority in the relevant investigation and reveal the other participants of the cartel. Such cooperation and contribution to the detection or proof of an infringement may prove particularly critical and decisive in enforcing the rules of free competition and justify the total or partial exemption from the imposition of a fine, depending on the level of cooperation by the company or the individual.

Especially for individuals, their inclusion in the Program and their complete exemption from the imposition of a fine,excludes the criminal liability of their actions, while, in case that a reduced fine is imposed, their participation in the Leniency Program is considered as a mitigating circumstance and a reduced (criminal) penalty is imposed, according to article 83 of the Penal Code.