By Ioannis Kokkoris
The final word target of pageant legislation is to advertise pageant and, in so much jurisdictions, to reinforce customer welfare. pageant coverage should be put aside because of detailed and unheard of conditions, resembling a monetary trouble that threatens the steadiness of an economic system. it truly is hence very important to have a transparent knowing of festival legislations and the exceptions to it. the foremost factor that this e-book addresses is whether or not a monetary hindrance can justify the adoption of a extra lenient method of confirmed criminal criteria as a result of hazards of the systemic trouble to the total marketplace. It presents an research of exceptions to festival legislations and coverage, fairly within the context of a monetary trouble, explores the explanation of festival legislation within the mild of conflicting pursuits, and serves as a helpful useful advisor for coverage makers in addition to practitioners within the box.
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E. 3 In addition, it is important for distressed entities and policy-makers to understand clearly the array of options that they have in advance since these can be used as part of their ‘crisis toolkit’. The aim of this book is to provide an analysis of such exceptions to competition law and policy, particularly in the context of a financial crisis. 4 In the United States of America the Federal Trade Commission (FTC) acts to ensure that markets operate efficiently to benefit consumers. In the United Kingdom the Office of Fair Trading (OFT) declares that the its goal is to make markets work well for consumers.
The chapter also evaluates the application of state aid policy during the financial crisis and will conclude with a critical assessment of the role and effectiveness of state aid policy during the crisis. The chapter will analyse the circumstances under which crisis cartel agreements should be accepted as a means to mitigate the adverse impact of crisis in a given sector. This chapter will also present the welfare objectives as well as the aims of competition policy in major jurisdictions. The aim of the chapter in a nutshell is to analyse how an anti-competitive merger, a 12 antitrust law amidst financial crises crisis cartel or a particular type of aid can provide the means to tide companies over a financial crisis.
16 antitrust law amidst financial crises possibly pro-competitive conduct are branded anti-competitive without assessment of their effects. In several jurisdictions there are exemptions which provide a uniform means of exempting certain kinds of conduct from competition legislation. Industries benefited from these exemptions because of an overriding socioeconomic necessity. In addition, there is a third important aspect of antitrust legislation: enforcement, as well as penalties for violation. The US, the UK and Ireland, for example, have criminal and civil penalties for corporate and/ or individual violations of certain antitrust laws, while the Commission can impose a civil penalty only against companies.
Antitrust Law amidst Financial Crises by Ioannis Kokkoris