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Client Updates
 

Jan 01, 2019

Client Update | Major Competition Law Reform in Israel Passed by Fast-Track- Legislation

This update concerns major changes in Israeli competition laws, passed by way of fast-track legislation in light of the coming elections in Israel.

Apart from changing the name of Israel’s main competition legislation from the “Restrictive Trade Practices Law” to the “Economic Competition Law”, the reform includes:

  • Enhanced enforcement:
    • Maximum fine will rise to NIS 100 million (approximately €24 million / $28 million) per offence;
    • Officers’ liability: a corporation’s officers must take active measures to prevent breaches and shall be held liable for any offence committed by their corporations. These offences also carry custodial sentences.
  • Relaxation of merger-control threshold, which will rise from NIS 150 million (approximately €35 million / $42 million) to NIS 360 million (approximately €85 million / $101 million).
  • An addition to the definition of “monopoly”, which will impose a dominant firm’s obligations on entities with market power whose market share is below 50%. Entities with a market share of over 50% will continue to be held as monopolies.

Click here for the full update.

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