Global Competition Law is primarly a practitioner's guide presenting the most salient aspects of the major competition laws country by country, giving an overview of their structure and most charasteristic elements.
Global Competition Law also provides insight into possible future developments in the field.

Global Competition Law

Although the Minister for Commerce is ultimately responsible for implementation of the Act, Section 5 expressly provides that “day to day administration of matters within the scope of the act is entrusted by the minister to a separate Agency, the Competition Authority”.
The functions of the Competition Authority are notably to:
- enforce the provisions of the Act and grant derogations where applic …

The Competition Authority

Pursuant to Section 5, the Minister for Commerce is charged with responsibility for the implementation of the Competition Act.

The Minister for Commerce

Although the Minister for Commerce is ultimately responsible for implementation of the Act, Section 5 expressly provides that “day to day administration of matters within the scope of the act is entrusted by the minister to a separate Agency, the Competition Authority”.

The functions of the Competition Authority are notably to:

- enforce the provisions of the Act and grant derogations where applicable;

- decide on the measures to be taken in the case of anticompetitive behavior;

- monitor market developments in Iceland.

The Competition Authority is an independent agency with a separate Board of Directors, composed of three members appointed by the Minister for Commerce. Three alternates are appointed in the same manner. The Minister appoints the Chairman of the Board. The Director of the Competition Authority, who is appointed by the Board of Directors of the Authority, is in charge of the day-to-day activities and running of the Authority.

The role of Board of directors is to prepare the matters submitted to the Competition Authority and discharge the routine functions of the Authority. Major material decisions must submitted to the Board for approval or rejection. The Board of Directors establishes its own rules of procedure (Section 5).

The Competition Authority is empowered to act against agreements, terms and any actions constituting infringement of the prohibition provisions of the Act, settlements or decisions that have been made pursuant to this Act and circumstances or conduct which prevents, limits or affects competition to the detriment of the public interest (Section 16). The actions of the Competition Authority may include any measure that is necessary to enhance competition, put an end to violations or respond to actions of public entities that may adversely affect competition.

Global Competition Law

967. The Competition Authority

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Les notions juridiques connexes

967. The Competition Authority

Demandez un accès gratuit au contenu exclusif Livv – juristes d’entreprise

Les notions juridiques connexes

Demandez un accès gratuit
au contenu exclusif Livv – juristes d’entreprise