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European and Competition Law
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In the past, UK businesses have felt relatively safe in their approach to market competition, provided they were not interfering with trade between European Member States. However, the Competition Act 1998 brings the spirit of European Competition legislation directly into effect against UK companies. The Act governs anti-competitive practices and prevents the abuse by a dominant company in their market sector. The provisions apply to trade in the UK and include regional distortions in competition as well as country-wide infringements.
Any body or membership or company that carries out any activity of a business nature is bound by this Act. More importantly, directors or company officers that are ultimately responsible for the infringement of competition law, can face imprisonment. Companies can be fined as much as 10%
of their UK turnover, across an aggregate of up to 3 years whilst the infringement occurred.
At HRJ we advise companies and individual directors of any potential infringements. We also offer guidance to companies seeking to implement their own compliance procedures. If you are considering a distribution agreement or buying another business who may have infringed competition law in the past, then contact HRJ before making any decisions.
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