In February 2019 the Israel Competition Authority (ICA) published for public consultation a draft amendment to Public Statement 1/16: Considerations of the Competition Commissioner in Determining the Amount of a Monetary Penalty. Following public comments on the draft amendment, the ICA has now published a final amended statement. As such, the ICA's new methodology for imposing monetary penalties has taken full effect.
The Israel Competition Authority recently published a draft amendment to the Antitrust Regulations (Registry, Publication and Reporting of Transactions) for public consultation. The draft includes significant and far-reaching changes regarding the scope of the transactions that will require merger approval by the competition commissioner, as well as the extent of the disclosure that will be required when filing merger notifications.
In January 2019 Parliament passed a comprehensive amendment to the Economic Competition Law 1988. Among other things, the amendment introduced an alternative definition of a 'monopoly' based on a market power test rather than market share and significantly increased the maximum cap for monetary administrative penalties which can be levied on corporations. To put the new rules into practice, the Israel Competition Authority recently published draft guidelines on both of these matters.
Parliament recently passed an amendment to the Economic Competition Law that represents its most significant overhaul since its enactment in 1988. The amendment covers nearly all of the law's substantial chapters and affects the regulation of restrictive arrangements, the merger control regime, the regulation of monopolies and criminal and administrative enforcement measures.
The Israel Competition Authority recently published amended versions of the Block Exemption for Ancillary Restraints in Mergers and the Block Exemption for Joint Ventures. The amended block exemptions intend to lower the regulatory burden imposed on businesses and enable the fast implementation of efficient arrangements by expanding the use of block exemptions.