Anti-Competitive Practices

Unfair competition encapsulates conduct by businesses which amount to gaining an unfair advantage over their competitors, or unfairly preventing other businesses from trading successfully.

Information about Anti-Competitive Practices

The law aims to promote healthy competition. It bans anti-competitive agreements to fix high prices, makes it illegal to agree not to compete with other businesses, and prevents companies from abusing a dominant market position. There are heavy penalties for breaking the law, including fines, employees being disqualified from being a director - or even incurring a prison sentence. The law also provides extra powers to protect competition. Mergers between businesses can be prevented if they reduce competition. Uncompetitive markets can be investigated, if they are deemed to reduce competition or result in unfair competition.

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