OREANDA-NEWS. A new law to counteract monopolist activities and promote competition became effective in Belarus on July 1, 2014.

The new antitrust law introduces a ban on monopolist activities and foul competition, introduces punishment for violating the antitrust law, the Economy Ministry said in a commentary.

The law bans all sorts of restrictions on the free movement of commodities in Belarus, other restrictions on entities' rights to sell, purchase or otherwise procure, exchange goods and commodities; bans the government from providing preferences with a few exceptions stipulated in Belarus' legislation. The law also forbids the practice of letting public bodies exercise economic functions and vice versa.

The new law adjusts the terms of cartel agreements, stipulates the criteria for exclusive rights to intellectual property.

The law specifies cases when companies should notify antitrust bodies about transactions with securities, mergers and associations.

One of the key novelties of the new antitrust law is that it bans companies from refusing or avoiding contracts to supply or produce commodities for certain customers, if the refusal or avoidance are economically or technologically unjustified. End

Furthermore, to prevent economic concentration, the law makes it legal to disintegrate dominant entities that practice unfair competition and violate antitrust regulations.