Since September 2023, the CCPC – through independent adjudication officers – is empowered to find that a business has breached competition law and impose financial sanctions of up to 10 per cent of the business’s annual worldwide turnover or €10 million, whichever is greater.

The CCPC’s Settlement Procedure can be applied, in principle, to any suspected infringement of competition law where the CCPC has decided to pursue (or is intending to pursue) the new administrative enforcement route in respect of that particular investigation.

Under the new Settlement Procedure, the CCPC can agree to the imposition of a reduced financial sanction on a business where the business admits to breaching competition law and agrees to a streamlined procedure to conclude the investigation. The CCPC and the business can also agree any actions that the business will be required to take to end the breach or to prevent similar breaches from reoccurring in future.

Úna Butler, member of the Competition and Consumer Protection Commission, said: “The CCPC’s new Settlement Procedure strengthens our ability to effectively and efficiently enforce competition law in Ireland. It provides a clear framework for businesses to resolve investigations promptly while ensuring that breaches are sanctioned appropriately. This increases the likelihood of reaching swift outcomes, reducing costs for the CCPC and businesses. This allows us to allocate our resources more effectively to promote competitive and open markets in Ireland.”