Competition law Essay Example | Topics and Well Written Essays - 3750 words

Competition law - Essay Example over receivable to the influx of complaints that reaches the office of the European Court of Justice, a new accord was passed to devolve the function to the field competition authority and the national courts of each legal power. The new process was formulated to ensure that more heighten is given to each complaints and also to ensure that proper monitoring of the conduct of the companies within each jurisdiction is well managed. As it is there are three ways wherein monopolies or compacts can be broken. through and through presentation where the companies themselves will submit to the regime of the national competition authority the agreements it will enter into with a company within the same industry. The Notification process will certify and state the reason to the interior(a) Competition Commission on why the agreement is not in violation of the anti cartel law. The other process wherein attention to the creation of the cartel will be put to the fore is through the initiation of a complaint against the cartel or the companies that make up the cartels. It is normally lodged by consumers play playacting to preserve and protect its interest against acts by company considered as against public policy. The National Commission itself acting on its behalf and in congruence with its power may investigate and launch its inquiry as to the existence of the cartel. The process enunciated above at first instance can be considered as laudable due to the focused implementation of the law by the National Competition Authority of each jurisdiction. To illustrate The notification process only provides a prima facie evidence that would make the companies involved in the agreement or alliance. This will pave the way for undocumented gentlemens agreement to be hatched in golf courses or similar fora. While more powers are given to the National Competition Authority to assess, witness and provide guidance to companies willing to submit i tself to the regime of the NCA, the European Court of Justice have efficaciously reduced its clout over the TFEU. Legal backGround In 1952, the European Coal and Steel club (ECSC) was created not only to boost economic growth in Europe in the aftermath of the min World War but more importantly, to foster lasting peace. This treaty marked the beginning of the waive movement of coal and steel and it guaranteed access to sources of production as well as the establishment of plum competition rules and price transparency. Under this Treaty, three cases were identified as hindrance to withdraw trade and fresh competitionagreements, concentrations and the abuse of dominant positions thus it explicitly provided that any agreement and undertaking could be void or an association could be disbanded if they would likely promote unfair competition or directly or indirectly prevent, restrict or distort free enterprise or fair competition. The European economical Community (then known as EEC but now referred to as the EC Treaty) pursuant to the Treaties of capital of Italy established the single or common European market on 1 January 1958. Under this Treaty, the free movement of people, goods and services were similarly conferred to achieve the envisioned economic development under the single or com