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EU, Competition and Regulated Markets
- European Union Competition Law
- The Irish Mergers Regime
- The Competition Act of 2002
European Union Competition Law
The EU competition rules have, since the inception
of the European Union (EU) in 1957, been one of the most significant
aspects of the EU regulatory regime affecting business throughout
the EU. There has been a significant increase in the European Commission's
efforts to ensure enforcement of the EU competition rules and consequently
there is an ever growing need for business to be aware of the EU
competition law system and its intricacies. Our EU and Competition
Law Unit have gained extensive experience in the following aspects
of practising EU competition law:
- Advising clients on various aspects of the EU competition
rules
-
Liaising with officials at the EU Commission
in various contexts including seeking the Commission's view
on proposed transactions;
-
Lodging complaints to the EU Commission on
behalf of clients alleging anti competitive behaviour;
-
Putting in place compliance programmes for
clients designed to educate and create awareness of the EU
competition system; an
- Preparing notifications to the EU Commission requesting a
formal decision that a proposed transaction either does not
fall foul of the EU Competition rules or requesting an exemption,
and preparing notifications to the Commission of large scale
multi Member State mergers which are subject to the EU Merger
Control Regulation.
The Irish Mergers Regime
The Competition Act, 2002 (the "2002 Act") regulates
mergers and acquisitions which exceed given financial thresholds
or which are anti competitive. The Irish merger regime is based
in part on the EU Merger Control Regulation. Prior to the introduction
of Part 3 of the 2002 Act on 1 January, 2003, mergers in Ireland
were regulated by the Mergers, Take-overs and Monopolies (Control)
Act, 1978 (the "1978 Act") and the Competition Acts 1991
and 1996. Our firm has gained significant experience in the field
of merger control including:
- Advising clients on all aspects of the 1978 Act, the 1991
and 1996 Competition Acts and the 2002 Act;
- Preparing notifications to the Department of Enterprise, Trade
and Employment and the Competition Authority;
-
Liaising with the relevant body on all aspects
of the 1978 Act, the 1991 and 1996 Competition Acts and the
2002 Act; and
-
Making written submissions to the Competition
Authority and inviting them to confirm or deny the accuracy
of the firm's views on aspects of the 2002 Act.
The Competition Act of 2002
It
is important for business to be increasingly aware of the non
merger provisions of the 2002 Act given the increased level of
enforcement by the Competition Authority (the body responsible
for the enforcement of Irish Competition Law) and given that there
are significant criminal sanctions imposed on undertakings that
fall foul of the competition rules on directors, managers and
other officers who consent or authorise the activities concerned.
Furthermore, the Minister for Enterprise, Trade and Employment
has recently agreed to ensure that further funds are committed
to the Competition Authority so as to enable the latter to police
compliance with the competition rules. L.K. Shields, Solicitors'
EU and Competition Law Unit has gained extensive experience in
this field including the following:
- Advising clients on all aspects of the competition rules;
- Submitting notifications;
- Liaising with the Competition Authority;
- Introducing compliance programmes for clients;
-
Defending clients in the context of Competition
Authority's investigations into alleged and-competitive activities
including dealing with "dawn raid" visits by the
Authority;
-
Lodging complaints with the Competition Authority
on behalf of clients alleging anti-competitive behaviour;
and
- Obtaining relief from the Courts for breach of competition
law including abuse of a dominant position.
The EU and Irish competition rules should not only
be seen as a compliance issue for business. The EU and Irish competition
rules have also been used to further our clients' commercial objectives.
For example, the firm's EU and Competition Law Unit has on many
occasions, in the context of commercial negotiations, successfully
used competition law arguments to resist the inclusion in agreements
of restrictive clauses suggested by other parties, which, if included,
would have prejudiced our clients' interests. Furthermore, we have
used the competition rules and the facility of lodging a complaint
to the Competition Authority/the Commission or initiating proceedings
before the courts in order to prevent entities which occupy a dominant
position in a relevant market from abusing that position in a manner
injurious to our clients' business. Indeed, LK Shields Solicitors,
before the implementation of competition legislation in Ireland,
was successful in obtaining for one of its clients the first injunction
restraining a breach of EU Competition Law granted by the Irish
Courts.
© 2003-2008 LK Shields Solicitors.
All rights reserved.
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