Regulation (EEC) No 2988/74 of the Council of 26 November 1974 concerning limitation periods in proceedings and the enforcement of sanctions under the rules of the European Economic Community relating to transport and competition

REGULATION (EEC) No 2988/74 OF THE COUNCIL  of 26 November 1974  concerning limitation periods in proceedings and the enforcement of sanctions under the rules of the European Economic Community relating to transport and competition
THE COUNCIL OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Economic Community, and in particular Articles 75, 79 and 87 thereof;
Having regard to the proposal from the Commission;
Having regard to the Opinion of the European Parliament (1);
Having regard to the Opinion of the Economic and Social Committee (2);
Whereas under the rules of the European Economic Community relating to transport and competition the Commission has the power to impose fines, penalties and periodic penalty payments on undertakings or associations of undertakings which infringe Community law relating to information or investigation, or to the prohibition on discrimination, restrictive practices and abuse of dominant position ; whereas those rules make no provision for any limitation period;
Whereas it is necessary in the interests of legal certainty that the principle of limitation be introduced and that implementing rules be laid down ; whereas, for the matter to be covered fully, it is necessary that provision for limitation be made not only as regards the power to impose fines or penalties, but also as regards the power to enforce decisions, imposing fines, penalties or periodic penalty payments ; whereas such provisions should specify the length of limitation periods, the date on which time starts to run and the events which have the effect of interrupting or suspending the limitation period ; whereas in this respect the interests of undertakings and associations of undertakings on the one hand, and the requirements imposed by administrative practice, on the other hand, should be taken into account;
Whereas this Regulation must apply to the relevant provisions of Regulation No 11 concerning the abolition of discrimination in transport rates and conditions, in implementation of Article 79 (3) of the Treaty (3) establishing the European Economic Community, of Regulation No 17 (4) : first Regulation implementing Articles 85 and 86 of the Treaty, and of Council Regulation (EEC) No 1017/68 (5) of 19 July 1968 applying rules of competition to transport by rail, road and inland waterway ; whereas it must also apply to the relevant provisions of future regulations in the fields of European Economic Community law relating to transport and competition,