Asked by Farid Habibi on Jul 18, 2024
Verified
Violations of provisions of the Competition Act may be addressed in which of the following ways?
A) Injured parties may sue for damages suffered and, under the penalty provisions, may recover up to three times the amount of damages in some circumstances.
B) When a reviewable activity has been confirmed, the Competition Tribunal may order its cessation or apply another legislated remedy.
C) An activity will only be held to be a violation if it is shown that the particular activity has the effect or the established purpose of substantially lessening or eliminating competition in an area.
D) Violations would not be subject to prosecution if they relate to goods sold by a monopoly at prices under the control of a government commission.
E) All of the responses are correct.
Competition Tribunal
A specialized court-like body empowered to adjudicate on matters of competition law and ensure market fairness.
Penalty Provisions
Clauses in a contract or legislation that impose punishments or fines for the breach of certain terms or laws.
Competition Act
Legislation aimed at preventing anti-competitive practices in the marketplace, ensuring fair competition between businesses.
- Acquire knowledge of the core principles and main provisions of the Competition Act.
- Detect and comprehend the position and interventions of the Competition Tribunal.
- Identify the distinctions between the Competition Act's criminal, regulatory, and civil components.
Verified Answer
JF
Jennah FaiolaJul 21, 2024
Final Answer :
E
Explanation :
All the options provided are correct ways in which violations of the provisions of the Competition Act may be addressed. Option A discusses the right of injured parties to sue for damages and potentially recover up to three times the amount of damages under certain circumstances. Option B mentions the role of the Competition Tribunal in ordering the cessation of a reviewable activity or applying another legislated remedy. Option C outlines the criteria for an activity to be considered a violation, focusing on its effect on competition. Option D specifies an exception for violations related to goods sold by a monopoly at government-controlled prices.
Learning Objectives
- Acquire knowledge of the core principles and main provisions of the Competition Act.
- Detect and comprehend the position and interventions of the Competition Tribunal.
- Identify the distinctions between the Competition Act's criminal, regulatory, and civil components.