SOUTH AFRICAN COMPETITION LAW - SLT TEST Free Essay, Term Paper and Book Report
The principle purpose of competition law is to promote competition and thus strengthen the efficiency of production and distribution of goods and services through the greatest possible transparency of competitive conditions and through measures against restraints of the freedom of trade and other harmful effects of anti-competitive practices.
The principles contained in the provisions discussed below follow those of mainstream competition laws of the European Union, United States, Canada and Australia. The approach of these laws mentioned is to prohibit certain practices that companies may impose on each other, or on parties dealing with them. These practices may be prohibited absolutely (per se) or prohibited conditionally, i.e. some practices may be allowed if there is a balancing justification or an "under the rule of reason" consideration.
Section 4 of the Competition Act 89 of 1998 (hereinafter referred to as the Act) states the following:
(1) An agreement between, or concerted practice by, firms or a decision by an
association of firms, is prohibite......
Word Count: 3031
Page Count: 12.1 (250 words a page / double spaced)
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