Langues appliquées - Anglais : Economie, gestion, droit, AES - 4e - 217

competition law

5. The European Union has a state aid policy which makes it legal under certain circumstances
to give .......... to companies in difficulty.
6. The EU Commission's power to control subsidies by national governments is unique among
the world's ..........
7. Instead of competing with each other, the agencies formed a .......... and agreed to boycott
the new player.
8. It is generally agreed that low prices benefit consumers, but when companies sell at ..........
their primary motive may be to drive a competitor out of the market.
9. Partnerships between two or more competing businesses operating at the same level in
the market are examples of .......... and may be considered unlawful by the competition
authorities.
10. The director was unaware that he was running the risk of being .......... by agreeing to enter
into a cartel with two of his competitors.
(B) Fill in the blanks with the words from the list below
binding / carve / distorts / fines / fix / losses / practices / penalty / purpose / share / sue / supply
/ trading / turnover / unfair
Anti-Competitive Agreements
The .......... (1) of competition law is to promote healthy competition. It bans anti-competitive agreements between firms such as agreements to .......... (2) prices or to .......... (3) up
markets, and it makes it illegal for businesses to abuse a dominant market position. Under
competition law, mergers between businesses can also be prevented if they lead to reduced
competition. In the UK it is the Competition Act 1998 that prohibits anti-competitive agreements between businesses. Any agreement that prevents, restricts or .......... (4) competition
is covered. An agreement could be formal (such as legally- .......... (5) contracts) or informal
(such as unwritten 'gentlemen's agreements'). The Act also prohibits abuse of a dominant market
position. This mainly applies to businesses that have a large market .........., (6) usually 40
per cent or more. The type of .......... (7) that could indicate abuse include charging ..........
(8) prices or imposing other unfair .......... (9) conditions on customers, limiting production, or
refusing to .......... (10) an existing customer without an objective reason. Penalties for competition law abuses include .......... (11) of up to 10 per cent of a company's annual worldwide
.......... (12). Also, directors can be disqualified, given an unlimited fine or even imprisoned.
In addition to any .......... (13) imposed, customers and competitors may be able to privately
.......... (14) companies that break the law for any .......... (15) they have suffered due to the
anti-competitive actions.
e EXERCISE 3

Grammar

Obligation and necessity
Complete the following sentences using have to, must, need to, should, had better and supposed
to in the correct tense
1. The judge was not comfortable with the decision she was obliged to reach, but as she
explained to the court, she .......... (apply) the law.

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