Consequences of a Breach
Contravention of Part 3 of the Regulations can have the following serious consequences:
- Any agreement or decision which contravenes the Regulations is void and unenforceable;
- Firms engaged in activities which breach these provisions can face fines of up to 10% of annual turnover in the Common Market;
- Firms in breach of the relevant provisions of the Regulations expose themselves to actions for damages from customers and competitors who can demonstrate that they have been harmed by the anti-competitive behaviour.
In this regard, any business undertaking needs to be aware of the provisions of the Regulations so that it can meet its obligations and protect its position in the marketplace.