For information on takeovers in the UK, go to: www.thetakeoverpanel.org.uk/.

Professional English in Use taw

Anti-competitive behaviour

Competition law

The Competition Act follows Articles 81 and 82 of the European Community (EC) Treaty and is part of a body of law known as competition law. Competition law regulates anti-competitive conduct that harms the market, such as excluding new competitors and putting up, or erecting, barriers to competition. It also covers abuse of a dominant position, for example by distorting competition or by predatory pricing - when goods arc sold ar less

than their cost price to cut г ------------- -----------

out rival businesses i ^^r^^; ^otnpctitiori law; AmE: antitrust law

BrE: abuse of a dominant position; AmE: abuse of monopoly power

Competition inquiry

Steve Jakes, a UK lawyer, is talking со a client about how anti-competitive practices and agreements are dealt with.

'The Competition Commission was established by the Competition Act 1998 and its procedures arc governed by provisions of the Enterprise Act 2002. Its purposes include carrying out inquiries into anticipated and completed mergers, and market investigations which other authorities, most often the government watchdog |che Office of Fair Trading, or OFT) or the Secretary of State. refer to the Commission. When a merger inquiry or market investigation reference- popularly known in the media as a referral - is made, the Chairman selects members, including appropriate specialists, to serve on the three to five-person group that will conduct the inquiry. Procedures arc in place to ensure that conflicts of interest are avoided. An administrative timetable is drawn up for the inquiry and published on the Commission's website. Merger inquiries can take over six months and market investigations up to two years.'

BrE: anti-competitive practices and agreements; AmE: restraint of trade

Information gathering, hearings, and remedies

Tor inquiries and investigations, information is collected from a range of sources. Parties are compelled to submit documents and the Commission can impose a monetary penalty for non-compliance with its requirements. It constitutes an offence to alter, suppress, or destroy documents, or to intentionally provide false or misleading information. Hearings are normally held privately with one party at a time, although public and joint hearings are possible.

The Commission has regulatory powers under the Act to make and implement decisions and decide on remedies. Before there can be any remedial action, however, the group must reach a two-thirds majority that there is an anti-competitive outcome, such as a substantial reduction in comperition resulting from a merger or an adverse effect on a market. The final report will contain remedies for implementation through agreed undertakings — that is, binding promises - or imposed orders which are monitored by che OFT. Undertakings and orders are enforceable in the courts by civil proceedings. Appeals by an aggrieved party - one who disagrees with the decision of rhe Committee - may be made to che Competition Appeal Tribunal/

Professional English in Use Low

28.1 Choose the correct phrase in brackets to complete the sentences. Look at В and С opposite to
help you.

1 Not supplying documents requested by a competition inquiry can lead to (enforceable orders / conflicts or interest / a monetary penalty).

2 The inquiry group must reach a majority decision that there has been anti-competitive conduct which has led to (remedial action / an adverse effect / misleading information) on a market.

3 Remedies decided by the Commission can be implemented through (aggrieved parties / agreed undertakings / adverse effect).

28.2 Complete the article. Look ar А, В and С opposite to help you. Pay attention to the grammatical
context. There is more than one possibility for one of the answers.

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