Article 101 Of The Treaty On The Functioning Of The European Union
Article 101 of the Treaty on the Functioning of the European Union prohibits cartels and other agreements that could disrupt free competition in the European Economic Area's internal market . Article 101 reads,
1. The following shall be prohibited as incompatible with the internal market all agreements between undertakings, decisions by associations of undertakings and concerted practices which may affect trade between Member States and which have as their object or effect the prevention, restriction or distortion of competition within the internal market, and in particular those which:
- (a) directly or indirectly fix purchase or selling prices or any other trading conditions;
- (b) limit or control production, markets, technical development, or investment;
- (c) share markets or sources of supply;
- (d) apply dissimilar conditions to equivalent transactions with other trading parties, thereby placing them at a competitive disadvantage;
- (e) make the conclusion of contracts subject to acceptance by the other parties of supplementary obligations which, by their nature or according to commercial usage, have no connection with the subject of such contracts.
3. The provisions of paragraph 1 may, however, be declared inapplicable in the case of:
- any agreement or category of agreements between undertakings,
- any decision or category of decisions by associations of undertakings,
- any concerted practice or category of concerted practices,
-
- (a) impose on the undertakings concerned restrictions which are not indispensable to the attainment of these objectives;
- (b) afford such undertakings the possibility of eliminating competition in respect of a substantial part of the products in question.
Businesses who infringe these rules can be subjected to large fines by the European Commission or national competition authorities. Prison is not available as a punishment under Article 101 itself. Some countries within the European Union have laws that impose criminal sanctions, including prison, for participation in anti-competitive agreements or practices.
Read more about Article 101 Of The Treaty On The Functioning Of The European Union: Goals, Undertakings, Collusion, Trade Between Member States, Exemptions
Famous quotes containing the words article, treaty, functioning, european and/or union:
“Nature’s law says that the strong must prevent the weak from living, but only in a newspaper article or textbook can this be packaged into a comprehensible thought. In the soup of everyday life, in the mixture of minutia from which human relations are woven, it is not a law. It is a logical incongruity when both strong and weak fall victim to their mutual relations, unconsciously subservient to some unknown guiding power that stands outside of life, irrelevant to man.”
—Anton Pavlovich Chekhov (1860–1904)
“The hand that signed the treaty bred a fever,
And famine grew, and locusts came;
Great is the hand that holds dominion over
Man by a scribbled name.”
—Dylan Thomas (1914–1953)
“Once a child has demonstrated his capacity for independent functioning in any area, his lapses into dependent behavior, even though temporary, make the mother feel that she is being taken advantage of....What only yesterday was a description of the child’s stage in life has become an indictment, a judgment.”
—Elaine Heffner (20th century)
“God grant we may not have a European war thrust upon us, and for such a stupid reason too, no I don’t mean stupid, but to have to go to war on account of tiresome Servia beggars belief.”
—Mary (1867–1953)
“She had brought love to the union and he had brought a longing after the flesh.”
—Zora Neale Hurston (1891–1960)