Comparative Guides
Welcome to Mondaq Comparative Guides - your comparative global Q&A guide.
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Results: 4 Answers
Merger Control
7.
Penalties and sanctions
7.1
If notification is mandatory, what sanctions may be imposed for failure to notify? In practice, does the relevant authority frequently impose sanctions for failure to notify?
 
Azerbaijan
Failure to notify is punishable by a financial sanction of up to AZN 5,500. The State Service for Anti-monopoly Policy and Protection of Consumer Rights can also seek a court order imposing a sanction in the amount of 1% of any amount of the sanction that remains outstanding for more than 30 days for each day of delay. The sanction is typically imposed on the transferee (and the target in a share deal).

Damages can also be imposed by the court and profits seized.

The Anti-monopoly Law does not provide for any statute of limitations that bars the application of sanctions or other adverse consequences for anti-monopoly breaches, and the State Service for Anti-monopoly Policy and Protection of Consumer Rights applies no limitation periods in practice.

The service will monitor merger activities, including foreign-to-foreign merger, although we are unaware of any specific penalties that have been imposed in relation to foreign-to-foreign mergers to date.

For more information about this answer please contact: Leyla Safarova from BM Morrison Partners LLC
7.2
If there is a suspensory obligation, what sanctions may be imposed if the transaction closes while the review is ongoing?
 
Azerbaijan
The State Service for Anti-monopoly Policy and Protection of Consumer Rights can order that a transaction be undone, although it may be argued that such authority is vested only in the Azerbaijani courts.

For more information about this answer please contact: Leyla Safarova from BM Morrison Partners LLC
7.3
How is compliance with conditions of approval and sanctions monitored? What sanctions may be imposed for failure to comply?
 
Azerbaijan
See question 7.1.

For more information about this answer please contact: Leyla Safarova from BM Morrison Partners LLC