Law providing for rules on infringement of the Competition Law

by:MICHAEL KYPRIANOU & CO LLC

On 21/07/2017 a law was published in the Government Gazette of the Republic, providing for the establishment of rules relating to actions for damages for breach of the provisions of the Competition Law.

This Law seeks to ensure that any natural or legal person or public authority harmed by an infringement of the Competition law by a company or a group of companies can effectively exercise the right to claim full compensation for the damage in question.

In accordance with the provisions of the Law, full compensation is deemed to be the restoration of the injured party to the situation in which he would have been if the breach of the Competition Law had not been committed, by awarding general and/or special damages and compensation for loss of earnings, as well as the payment of interest.