Article 12

Fines 1. The Commission may, by decision, impose fines on undertakings or associations of undertakings of from 100 to 5 000 ECU where, intentionally or negligently: they supply incorrect or misleading information in connection wich an application pursuant to Article 3 (2) or Article 5; or they supply incorrect information in response to a request made pursuant to Article 9 (3) or (5), or do not supply information within the time limit fixed by a decision adopted under Article 9 (5); or they produce the required books or other business records in complete form during investigations under Article 10 or Article 11, or refuse to submit to an investigation ordered by decision taken pursuant to Article 11 (3). 2. The Commission may, by decision, impose fines on undertakings or associations of undertakings of from 1 000 to 1 000 000 ECU, or a sum in excess thereof but not exceeding 10 % of the turnover in the preceding business year of the undertakings participating in the infringement, where either intentionally or negligently they: infringe Article 85 (1) or Article 86 of the Treaty; or commit a breach of any obligation imposed pursuant to Article 6 (1) of this Regulation. In fixing the amount of the fine, regard shall be had both to the gravity and to the duration of the infringement. 3. Article 8 shall apply. 4. Decisions taken pursuant to paragraphs 1 and 2 shall not be of a penal nature. 5. The fines provided for in paragraph 2 (a) shall not be imposed in respected of acts taking place after notification to the Commission and before its decision in application of Article 85 (3) of the Treaty, provided they fall within the limits of the activity described in the notification. However, this provision shall not have effect where the Commission has informed the undertakings or associations of undertakings concerned that, after preliminary examination, it is of the opinion that Article 85 (1) of the Treaty applies and that application of Article 85 (3) is not justified.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-21 · Text as adopted (Official Journal); later amendments are not incorporated in this text.