OREANDA-NEWS. On June 18, 2009 the Joint Commission of the Federal Antimonopoly Service (FAS Russia) and the Bank of Russia found that "OTP Bank" OJSC and commercial organizations violated Clauses 4 and 8 Part 1 Article 11 of the Federal Law "On Protection of Competition" by concluding agreements that had resulted (could have resulted) in economically and technologically unjustified refusal to sign contracts with certain sellers or buyers (customers) and preventing entry /exit of other economic entities to/from the goods market, reported the press-centre of FAS Russia.

The case was initiated after in accord with Part 9 Article 35 of the Federal Law "On Protection of Competition" FAS Russia received notifications from "OTP Bank" OJSC about the agreements concluded with commercial organizations.

"OTP Bank" OJSC and commercial organizations violated the antimonopoly legislation by concluding Cooperation Agreements, under which joint advertising campaigns and actions were only possible if commercial organizations granted "OTP Bank" OJSC exclusive rights for joint crediting programmes.

Before the case hearing, "OTP Bank" OJSC and commercial organizations voluntarily admitted violating the antimonopoly legislation and petitioned to the Federal Antimonopoly Service on relieving administrative liability for entering into competition-restrictive agreements under Article 14.32 of the Code of the Russian Federation on Administrative Violations.

"OTP Bank" OJSC and commercial organizations eliminated the antimonopoly violations by entering into the Additional Agreements to the Cooperation Agreements and forwarding them to FAS Russia. Under the Additional Agreements joint advertising campaigns and actions do not require commercial organisations to grant exclusive rights for joint consumer crediting programmes to "OTP Bank" OJSC.

As "OTP Bank" OJSC and commercial organizations voluntarily eliminated the antimonopoly violations and their consequences, the case is closed.