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The European Commission performed Tuesday unannounced inspections at the premises of companies and associations involved in the automotive sectors across several Member States. Several automotive businesses have also received formal requests for information from the Commission. Inspections and information requests are related to possible collusion in the collection, treatment, and recovery of end-of-life (ELV) cars and vans, which are considered waste.
The EU antitrust rules (Article 101 of the Treaty on the Functioning of the European Union) ban cartels and restrictive business practices, and the Commission is concerned that numerous companies and associations may have violated these rules. Officials from the Commission were accompanied by representatives from the relevant national competition authorities. Companies found to be in violation of EU cartel rules face fines of up to 10 percent of their global turnover.
The UK’s Competition and Markets Authority (CMA) also had also commenced an investigation (in coordination with the European Commission) into potential anti-competitive conduct involving the recycling of old or discarded vehicles, which implicated several automakers and industry bodies.
The Competition Act 1998 is the relevant competition legislation for the CMA’s investigation. Unless they are excluded or exempted, Chapter I prohibits agreements, concerted practices, and decisions by associations of undertakings that have as their object or effect the prevention, restriction, or distortion of competition within the UK or a part of it, and that may affect trade within the UK or a part of it.
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The EU antitrust rules (Article 101 of the Treaty on the Functioning of the European Union) ban cartels and restrictive business practices, and the Commission is concerned that numerous companies and associations may have violated these rules. Officials from the Commission were accompanied by representatives from the relevant national competition authorities. Companies found to be in violation of EU cartel rules face fines of up to 10 percent of their global turnover.
The UK’s Competition and Markets Authority (CMA) also had also commenced an investigation (in coordination with the European Commission) into potential anti-competitive conduct involving the recycling of old or discarded vehicles, which implicated several automakers and industry bodies.
The Competition Act 1998 is the relevant competition legislation for the CMA’s investigation. Unless they are excluded or exempted, Chapter I prohibits agreements, concerted practices, and decisions by associations of undertakings that have as their object or effect the prevention, restriction, or distortion of competition within the UK or a part of it, and that may affect trade within the UK or a part of it.
The post Global auto companies raided by EU and UK antitrust regulators appeared first on JURIST - News.
Continue reading...
Note: We don't have any responsibilities about this news. Its been posted here by Feed Reader and we had no controls and checking on it. And because News posted here will be deleted automatically after 21 days, threads are closed so that no one spend time to post and discuss here. You can always check the source and discuss in their site.