265Furthermore, as regards the determination of the ‘preceding business year’, within the meaning of Article 23(2) of Regulation No 1/2003, it is apparent from the case-law that, in situations where there is no indication that an undertaking has ceased its commercial activities or has diverted its turnover in order to avoid the imposition of a heavy fine, it must be considered that the Commission is obliged to fix the maximum limit of the fine by reference to the most recent turnover corresponding to a complete year of economic activity (judgment of 29 November 2005 in Britannia Alloys & Chemicals v Commission, T‑33/02, ECR, EU:T:2005:428, paragraph 49).
Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.