Belgium - The Belgian Competition Authority receives price control powers
Today, 12 December 2013, sees the entry into force of the new price control procedure that is provided by Title I of Book V of the newly consolidated Code of Economic Law (the “Act”). The Act was published in the Belgian State Gazette of 26 April 2013 but the Royal Decree announcing today’s entry into force was published only yesterday. More information on Book IV of the same Code, which created the new Belgian Competition Authority and significantly reformed the procedures governing competition law investigations, can be found in our April and September alerts here and here.
The roots of the new Belgian framework for price monitoring were set in 2009 with the creation of an advisory administrative body called the Price Observatory (“PO”). With the Act, the Belgian legislator has now gone a step further by enabling the Belgian Competition Authority (“BCA”) to intervene in problematic price evolutions.
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