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Article: European competition law. (anti-monopoly law in the European Union)
- Article from:
- Management Accounting (British)
- Article date:
- June 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 Chartered Institute of Management Accountants (CIMA). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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We live in a Europe without frontiers. As a result, more and more regulations generated by Europe are being introduced, writes Dai Davies. One area of European law that has been in force for many years is that which controls monopolies and anti-competitive behaviour, and is known as competition law. Indeed, it is in this area that European powers are most far-reaching and it is not uncommon to find multi-million pound fines being levied on companies.
In a recent case, a group of chemical companies were fined a total of more than 30[pounds]m for operating an illegal cartel in the area of polypropelene. However, European competition law applies to companies ...