Latest Breaking News On - Cartel act - Page 8 : comparemela.com
Modernisation Of Austrian Cartel Act - Anti-trust/Competition Law
mondaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondaq.com Daily Mail and Mail on Sunday newspapers.
Indirect counter-proposal to the Fair Prices Initiative enacted
admin.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from admin.ch Daily Mail and Mail on Sunday newspapers.
Introduction
The competition law investigation into approximately 40 construction companies could prevent large providers from taking on future public contracts.
In November 2020 the Federal Competition Authority applied to the Cartel Court to impose the first fine on an Austrian construction company. The case was based on the suspicion that employees of more than 40 construction companies assigned construction projects to one another between 2002 and 2017. The potential victims primarily include public clients in road construction, pipeline construction and earthworks.
The pending investigation by the Economic and Corruption Public Prosecutor s Office and the Federal Competition Authority against so many construction companies has created a dilemma for clients. On the one hand, there is annoyance that important business partners may have been deliberately deceived for years and the desire to make amends is great. On the other hand, the clients see themselves as almost forced to c
In March 2021 Parliament approved a counterproposal to the Fair Price Initiative, thereby revising the Cartel Act (CartA) and adopting the concept of relative market power . Under the new law, prohibitions previously applicable only to dominant companies will be extended to companies with relative market power. The new law also introduces a geo-blocking ban.
Concept of relative market power
The revision of the CartA extends the prohibitions previously applicable only to dominant companies (eg, the abusive refusal to supply goods or the abusive discrimination between trading partners in relation to prices, pursuant to Paragraph 7 of the CartA) to companies with relative market power . A company is considered to have relative market power if other companies depend on it with respect to the supply of or demand for a product or service in such a way that there is no sufficient and reasonable possibility to switch to other companies.