Business Law: Monopolies and Anti-Competitive Legislation in UK
Verified
Added on Β 2023/04/04
|9
|604
|265
PowerPoint Presentation
AI Summary
This presentation provides an overview of monopolies and anti-competitive legislation in the UK. It discusses the role of the Competition Commission, dominant positions in the EU market, and situations in which exemptions are provided. The presentation also includes relevant case law and references.
Contribute Materials
Your contribution can guide someoneβs learning journey. Share your
documents today.
BUSINESS LAW TASK 3
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
INTRODUCTION ο¬Business law is the subdivision of civil law. It is implicated for protecting the rights , conduct of people, and their relations of people who are involved in trade activities and the activities of commerce, sales and merchandising. It consists of rules and regulation which the parties have to follow and abide by these policies. ο¬In accordance with the sale of goods act it is the duty of seller to provide high quality goods and the goods that are provided and delivered to the customer are according to the description of the product. The product must be same both at the time of description and at the time of delivery.
3.1 Monopolies and anti competitive legislation in UK. ο¬United kingdom Competition law prohibited any Monopolistic activity in the market and has all the rights to investigate any case of its concern. Broadly, United Kingdom Competition law gets affected by British as well as European union elements. ο¬There are two most important statutes with purely national dimension in united kingdom regarding competition laws which are Competition act 1999 and Enterprise act 2003. in UK the term monopoly is defined as: If a Company have more than 25% of market share then it will be considered as monopoly.
CONTD.. Case law-Light fittings sectors; The decision of court- On 3rdMay 2017, the Competition and Market Authorities has declared a decision of imposing the fine for breaking the law by National lighting companies and all its subsidiaries, Endon lighting limited,Saxby lighting limited and Poole lighting limited. The fine carries the discount reflecting the savings of the company's admission under the CMA agreement settlement.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
3.2) Competition commission with the context of monopolies and anti-competitive. Competition commission was constituted in 1999 to regulate any mergers, acquisitions, joint ventures and monopolistic activity in the market. It replaced the monopolies and mergers commission. Officeoffairtradingreferstheissuestothecommission. Commission only makes recommendations, all the enforcement is done by the office of fair trading.
3.3 Dominant position with in the EU market. ο¬In terms of Dominant position, one firm having a control over entire market area through they maintain strong position in the market which results exploitation of customer who are the important part of the market. ο¬They control over market which is more than 50%. It is clearly unfair condition with consumers. This condition is able to create barriers. It is the growing concern that, various types of instruments through which abuse of dominant position can be done.
3.4 Situation in which exemption is provided to them. ο¬According to article of 102, it involve exemptions this can classify the behaviour of three types. These exemption is provided to those who are able to proved that anti- competitive practices are benefits for the entire market. ο¬According to the article 101 which consists various of laws and regulation and have to be fulfil by them. In which principals are agreed to exempt agreement which are not so important. The companies holding is less than 10% are known as small business organization
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
REFERENCES Folsom, et. al 2012. International business transactions: a problem- oriented coursebook. Bagley, C.E. and Dauchy, C.E., 2011. The entrepreneur's guide to business law. Nelson Education. Spalding, A.B., 2011. The Irony of International Business Law: US Progressivism, Chinaβs New Laissez Faire, and Their Impact in the Developing World. Appleman, J.A., Appleman, J. and Holmes, E.M., 2015. Excuses for Nonpayment and Defenses to Actions for Premiums (Vol. 5). Appleman on Insurance Law and Practice. Pohl, M., 2017. HANDBOOK ON THE HISTORY OF EUROPEAN BANKS. Economics, (357).