The Knesset Economics Committee: limits fines on large corporations to NIS 100 million

The Knesset Economics Committee decided to soften an amendment to the Antitrust Law that was supposed to allow the Antitrust Authority to impose very high fines on monopolies and large corporations that violated the law. In the discussion of preparations for the second and third readings in the Knesset plenum, it was decided to limit the fines to NIS 100 million.
The members of the committee rejected the amendment proposed by the Authority, according to which the maximum fine for violators could stand at up to 8% of the sales turnover - without any amount limitation. However, this is still a relatively severe situation today, because the ceiling of the monetary fine is NIS 24.5 million, or 8% of turnover.
In order for the amendment to be approved, it must be approved by the Knesset plenum. In view of the early elections, there is little chance that this will happen in the current Knesset.
The opponents of the law are of course the corporations themselves, through lawyers and lobbyists. The melody is constant: companies will collapse, workers will be fired. But this time we can certainly ignore the music. Anyone who does not want to be hurt will do the obvious and simply will not be a criminal. In any event, any fine can be appealed to the Antitrust Tribunal, which will carry out judicial and economic, and not only technical, review of the decisions.