competition law Flashcards
1
Q
what is the purpose of competition law?
A
promote market competition by regulating unfair anti-competitive trade practices between businesses
2
Q
which acts underlie competition law in the UK?
A
competition act 1998
enterprise & regulatory reform act (ERRA) 2013
enterprise act 2002
3
Q
which act underlies competition law in the EU?
A
treaty on the functioning of the european union (TFEU) - articles 101 & 102
4
Q
what does article 101 / chapter 1 relate to in competition law?
A
anti-competitive agreements between businesses (cartels)
5
Q
what does article 102 / chapter 2 relate to in competition law?
A
abuse of a dominant position (usually by a single business - monopoly)
