By Nick Gardner
This booklet bargains with festival coverage from the point of view of a enterprise government. It allows a hectic reader to move instantly to the company perform with which he's involved and from there to a precis of the experts' therapy of that perform. while, it offers the reader who needs so as to add an appreciation of anti-trust compliance to his specialist portfolio with a complete assessment of the topic, including a advisor to important resources of extra details.
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Extra resources for A Guide to United Kingdom and European Union Competition Policy
Remedies which may be ordered by the Commission include: (a) an order to terminate an agreement or practice; (b) an order to take positive action (for instance, to resume supplies which have been withheld); (c) an order requiring a company to divest itself of a company which it had acquired. The Commission is also empowered to impose fines and periodic penalty payments on undertakings which intentionally or negligently infringe Article 81(1) or Article 82 of the Treaty. Infringements which lead to the imposition of fines are not regarded as criminal offences, but it has been established that they may be used as a general deterrent to other undertakings.
Brown Shoe 1962. 18 A Guide to UK and EU Competition Policy The actual wording of the antitrust legislation is, however, exclusively concerned with competition and, until 1977, it was interpreted to exclude consideration of offsetting gains in productive efficiency. In one merger case, the Supreme Court went so far as to rule that not only were gains in productive efficiency no defence, but that they could actually be used to attack a merger proposal since small rivals could be damaged thereby.
Section 7 of the Clayton Act, as amended in 1950, prohibited mergers which would substantially lessen competition. The Clayton Act and its amendments do not create criminal offences. Objectives and interpretations Supreme Court interpretations have attributed objectives to the legislators of the Sherman Act, which go beyond the pursuit of economic efficiency. For example, Judge Learned Hand said that: great industrial consolidations are undesirable regardless of their economic results . . 21 and in 1962 the Supreme Court attributed to Congress the policy of `protecting viable, small, locally owned businesses .