June / July 1999

Romania: Competition Law faces privatisations

01 June 1999

The provisions of Law 21/1996 are largely inspired by European regulations. The privatisation programme in Romania has led to a significant increase of the Council’s caseload. Nevertheless, it has to deal with modern competition issues such as energy and telecommunications within the context of major restructuring in the industrial and banking sectors, as required by the IMF. The communication of the turnover figures is critical as they provide the basis for calculating the authorisation tax, which is fixed at 0.1 per cent of the aggregate turnover of the parties involved. Set out in the published decision, this tax also reveals the parties’ turnover.