Irish Competition Law is the Irish body of legal rules designed to ensure fairness and freedom in the marketplace. The key provisions of Irish competition law: (a) usually outlaw anti-competitive arrangements between businesses and economic operators (known as "undertakings"); (b) always outlaw the abuse of dominance by undertakings; (c) control certain mergers, acquisitions and joint ventures.
Irish competition law is primarily statute-based with some judge-made rules (the so-called "common law"). The statute rules are embodied in the Competition Act 2002 (which replaced the Competition Acts 1991-1996) and the Competition (Amendment) Act 2006.
Irish competition law is comparable to, but different in certain key respects, from European Union competition law. There are some similarities to the anti-trust law of the United States of America but the differences (particularly in relation to merger control, abuse of dominance and the way in which breaches are punished) are substantial.
Irish competition law is enforced by the courts (which have the power to find breaches, permit unannounced visits by the Competition Authority) and impose penalties), the Competition Authority (which has the power to institute investigations and take court actions) and private action by undertakings and others.
Read more about Irish Competition Law: Relationship With EU Competition Law, Enforcement
Famous quotes containing the words irish, competition and/or law:
“I went to a very militantly Republican grammar school and, under its influence, began to revolt against the Establishment, on the simple rule of thumb, highly satisfying to a ten-year-old, that Irish equals good, English equals bad.”
—Bernadette Devlin (b. 1947)
“Like many businessmen of genius he learned that free competition was wasteful, monopoly efficient. And so he simply set about achieving that efficient monopoly.”
—Mario Puzo (b. 1920)
“At the end of one millennium and nine centuries of Christianity, it remains an unshakable assumption of the law in all Christian countries and of the moral judgment of Christians everywhere that if a man and a woman, entering a room together, close the door behind them, the man will come out sadder and the woman wiser.”
—H.L. (Henry Lewis)