Article 26Fines and periodic penalty payments applicable to concentrations

1. The Commission may impose fines or periodic penalty payments as set out in Article 17.

2. The Commission may, by decision, also impose fines upon undertakings concerned not exceeding 1 % of their aggregate turnover in the preceding financial year where those undertakings, intentionally or negligently, supply incorrect or misleading information in a notification pursuant to Article 21 or supplement thereto.

3. The Commission may, by decision, also impose fines upon undertakings concerned not exceeding 10 % of their aggregate turnover in the preceding financial year where those undertakings, intentionally or negligently:

(a)

fail to notify a notifiable concentration in accordance with Article 21 prior to its implementation, unless they are expressly authorised to do so by Article 24;

(b)

implement a notified concentration in breach of Article 24;

(c)

implement a notified concentration prohibited in accordance with Article 25(3), point (c);

(d)

circumvented or attempted to circumvent the notification requirements, as referred to in Article 39(1).