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The Competition Act 1998 (the Act) prohibits anti-competitive agreements between businesses. In particular, a company must not:
Any agreement that prevents, restricts or distorts competition is covered (not just the types of agreement listed above). An agreement could be formal (such as legally-binding contracts) or informal (such as unwritten ‘gentlemen’s agreements’).
This mainly applies to businesses that have a large market share, usually 40 per cent or more. Other factors taken into consideration in determining whether a company is dominant include the number and size of competitors and customers and whether new businesses can easily set up in competition. The type of practices that could indicate abuse include charging unfair prices or imposing other unfair trading conditions on customers, limiting production, or refusing to supply an existing customer without an objective reason. The OFT can also assess whether an abuse may affect trade between EU Member States. 3. Responsibility in Complying with Competition Laws
Set out below is a set of basic list of “dos and don’ts” that will give employees an early warning of areas, which may infringe competition law.
Dos:
Don’ts:
References to “arrangements” above are not limited to arrangements in writing. Arrangements can be written, or oral and include not only formal arrangements but also informal arrangements and activities and can be inferred from surrounding circumstances.