The Business Competition Act (Inter): Difference between revisions
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The Business Competition Act (Inter) (view source)
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''An act to regulate the market strength of large corporations.''<br>
''
''AMENDED by the [[Labor Reform Resolution, 645]].''<br>
''AMENDED by the [[An Amendment to The Business Competition Act, 654]].''
''AMENDED by the [[Commerce and Labour Expenditures Act, 654]].''
==Article 1 - Competition Law==
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:1.2 - An arbitration court shall be established to mediate between business interests.
:1.3 - The Business Arbitration Court shall be quarterly funded with ₣7,950,000.
==Article 2 - Entrepreneurial Aide Agency==
:2.1 - Creates the Better Business Council [BBC]
::2.1.1 - Authorizes Government loans for medium businesses, with a threshold of 5,000,000 florins annual income in the last financial year.
::2.1.2 - Authorizes Government loans for small businesses, with a threshold of 1,000,000 florins annual income in the last financial year.
::2.1.3 - Authorizes Government loans for start-up or micro businesses with less than 100,000 florins of starting capital.
:2.2 - Funds ₣43,000,000 quarterly to the Ministry of Commerce for the administration of the BBC
==Article 3 - Creation of the Anti-Monopoly Commission==
:3.1 - An Anti-Monopoly Commission is being created under the Ministry of Labour and Commerce.
:3.2 - The Anti-Monopoly Commission is formed by the Minister of Labour and Commerce at his discretion.
:3.3 - The Anti-Monopoly Commission is authorized to fine enterprises for using non-market methods of competition.
:3.4 - Non-market methods of competition are equated with:
::3.4.1 - A statement about the non-existent properties of a product or service.
::3.4.2 - Not informing consumers about the properties of the product or service
::3.4.3 - Establishment and/or maintenance of monopolistically high or monopolistically low prices of goods and or services.
::3.4.4 - Withdrawal of goods or services from circulation, if the result of such withdrawal was an increase in the price of the goods.
::3.4.5 - Economically unjustified reduction or termination of production of goods, if there is demand for this product or orders for its delivery are placed, if there is a possibility of its cost-effective production.
::3.4.6 - Economically unjustified refusal to conclude a contract with buyers if there is a possibility of production or supply of the corresponding goods or services.
::3.4.7 - Creation of obstacles to access to the commodity market or exit from the commodity market to other economic entities.
:3.5 - The amount of the fine is set at 5% of the market capitalization of the enterprise and is doubled for each fine of the enterprise.
:3.6 - The Anti-Monopoly Commission is funded by 1 000 000 florins per quarter.
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