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Decree No.75/2019/ND-CP dated September 26, 2019 of by the Government on sanctioning of administrative violations in competition
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Please Sign in your LuatVietnam account and sign up for the lookup software .Issuing bodies: | Government | Effective date: | |
Official number: | 75/2019/ND-CP | Signer: | Nguyen Xuan Phuc |
Legislation Type: | Decree | Expired date: | Updating |
Issuing date: | 26/09/2019 | Effect: | |
Fields: | Administrative violation , Bidding - Competition |
A fine of VND 300 million for directly providing untruthful information about other enterprises
Accordingly, the maximum fine for violating regulations on unfair competition is VND 2,000,000,000. The maximum fine shall be applied to acts of violation of organizations; for individuals with the same acts of administrative violation in competition, the maximum fine shall be half of the maximum fine for organizations.
To be specific, this Decree has a section with 06 Article regulates on fine of acts of violating regulations on unfair competition. Remarkably, a fine of between VND 200,000,000 and VND 300,000,000 shall be imposed on disclosing and using confidential business information without permission of the owners.
A fine of between VND 100,000,000 and VND 200,000,000 shall be imposed on the act of providing untruthful information about other enterprises by indirectly and a fine of between VND 200,000,000 and VND 300,000,000 shall be imposed on the act of providing untruthful information about other enterprises by directly giving untruthful information about enterprises, which negatively affects their reputation, financial status or business performance.
A fine of twice the fines specified above shall be imposed on acts of violation in case such acts of violation are committed in at least two provinces or municipalities.
For further details of the Decree 75/2019/ND-CP, Click here