Competition Law is nowadays considered a major area of legal practice especially within the European Union. The accession of Cyprus to the European Union on 1 May 2004 had a substantial impact on the Cyprus legal system and was preceded by intensive activity to harmonise Cyprus law with the substantial body of European Union Directives and other legal provisions. An increasing number of trade agreements and practices typical in the past, are nowadays deemed as anti-competitive and subject to huge fines by the relevant Competition Authorities.
The Competition Policy in Cyprus is governed by two main laws:
- The Competition Act 13(I)2008 concerning anti-competitive agreements and restrictive practices. Anti-competitive agreements are covered by the provisions of article 3 of the Competition Act. Article 3 covers both horizontal and vertical agreements by prohibiting all agreements formal or informal that have as an end result the prevention, restriction or distortion of competition within the Republic. Article 6 of the Competition Act covers restrictive practices, prohibiting abuse by one or more undertakings that hold a dominant position within a specified geographical market. Article 6 can be viewed as the Anti-Monopoly policy of the Cypriot Competition Policy.
- The Law 22(I)/1999 for the control of Concentrations covering both mergers and acquisitions. A merger or an acquisition that falls under the provisions of the Law 22 (I)/1999 can be considered valid only if it is declared compatible with the demands of the competitive market by the Cyprus Commission for the Protection of Competition (CPC).
Our Firm can deal with competition issues should these arise in the context of mergers, agreements, decisions or other practices. We can also provide legal services and advice in relation to price fixing, abuses of market dominance as well as refusals to access or other entry barriers, anti-competitive agreements such as tying and bundling.
We advise our clients on their agreements, decisions and practices so as to ensure effective compliance with national and European Competition rules or other sectorial regulations. In case of mergers and acquisitions our Firm ensures that our clients are compliant with competition rules and are duly notified to the competent authorities.
Our specialized team also advises in selected aspects of EU law including:
- Advice and briefing of clients on EU law developments
- Advice on EU and national public procurement matters and recourse
- Consumer protections laws
- Protection and exploitation of trade marks
- Representation before the EU institutions (including in relation to infringement proceedings)
- Internal market issues