Inadequacy of Law Sample Clauses

Inadequacy of Law. As a general rule, law needs to be designed to reflect economic and political realities of any given jurisdiction. In accordance with this purpose, pressing development needs of a developing country may result in pursuance of unconventional goals in competition legislation. These unconventional goals may concern economic or non-economic public policy objectives. In some developing countries inclusion of non-efficiency based policy goals, no matter how distant from actual operation of markets and competitiveness, might be a precondition of obtaining the necessary political support for the establishment of a domestic competition law regime.86 Competition policy is expected to contribute to economic development in most developing countries. Thus subordination of competition law enforcement to other economic policies, such as trade or foreign investment policies, which are believed to be more conducive to economic development, is deemed to be justifiable.87 Explicit reference to one or more of the following goals are found in domestic competition laws of some developing countries: protection of consumers (India, Tanzania, Zambia, Peru), ensuring freedom of trade (Zambia, India), regulation of internal trade (Sri Lanka), protection of labour (South Africa), protection of SMEs88 (South Africa), expansion of entrepreneurship base (Zambia, Malawi and Zimbabwe) and the promotion of the ownership of particular racial or ethnic groups (South Africa).89 Even in the absence of specific reference to broader public policy goals in competition legislation, such goals might de facto be considered in the judgments of competition law 86 (Xxxxx & Xxxxxxx, 2013b), p. 2167. The authors note that South Africa could not have established a new competition law regime in 1990s if the enhancement of economic opportunities for non-white population was not among the goals of the new law. However, so far the respective goal has played only a very limited role in practice. 87 (Fels & Xx, 2013), Kindle Edition, location 3639 of 7565.
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Related to Inadequacy of Law

  • INADEQUACY OF DAMAGES Each Party agrees that damages would not be an adequate remedy for any breach by it of this Agreement and accordingly each Party shall be entitled, without proof of special damages, to the remedies of injunction, specific performance or other equitable relief for any threatened or actual breach of this Agreement.

  • Conflict of Law In the event that any of the terms or conditions of this Agreement are contrary to or unenforceable by reason of any law or governmental decision, ruling or regulation, such terms or conditions shall be deemed to be severed from this Agreement, and the illegality or unenforceability thereof shall not in any manner affect or impair any other terms or conditions of this Agreement.

  • Application of Law The Lessee shall comply with all laws, ordinances, regulations, and other legal requirements affecting the Premises and the use thereof, and the Lessee shall indemnify, defend, and hold the Lessor harmless from expense or damage resulting from failure to do so.

  • Violation of Law No change shall have occurred after the date of this Agreement in any applicable Law that makes it a violation of Law for (a) Owner, any Applicable Pass Through Trustee, Subordination Agent or Mortgagee to execute, deliver and perform the Operative Agreements to which any of them is a party or (b) any Applicable Pass Through Trustee to make the loan contemplated by Section 2.1, to acquire an Equipment Note or to realize the benefits of the security afforded by the Trust Indenture.

  • Jurisdiction of Law The laws of the State of Minnesota shall govern the validity, construction and effect of this contract, unless said laws are superseded by, or in conflict with applicable federal laws and/or federal regulations. This contract will be binding upon the parties, their heirs, beneficiaries, and devisees of the parties hereto. The parties agree that Hennepin County, Minnesota is the appropriate forum for any action relating to this contract. This contract may be signed in counterparts.

  • ADEQUACY OF DAMAGES Nothing contained in this Agreement shall be construed as prohibiting the Disclosing Party from pursuing any other remedies available to it, either at law or in equity, for any such threatened or actual breach of this Agreement, including specific performance, recovery of damages or otherwise.

  • Conflict of Laws The provisions of this Agreement shall be subject to all applicable statutes, laws, rules and regulations, including, without limitation, the applicable provisions of the ICA and rules and regulations promulgated thereunder. To the extent that any provision contained herein conflicts with any such applicable provision of law or regulation, the latter shall control. The terms and provisions of this Agreement shall be interpreted and defined in a manner consistent with the provisions and definitions of the ICA. If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of this Agreement shall continue in full force and effect and shall not be affected by such invalidity.

  • Consequence of Lapse If required insurance lapses during the Term, the JBE is not required to process invoices after such lapse until Contractor provides evidence of reinstatement that is effective as of the lapse date.

  • No Violation of Law Neither the Borrower nor any of its Subsidiaries is in violation of any law, statute, regulation, ordinance, judgment, order, or decree applicable to it which violation could reasonably be expected to have a Material Adverse Effect.

  • Change of Law In this Agreement, unless the context otherwise requires, references to a statutory provision include references to that statutory provision as from time to time amended, extended or re- enacted and any regulations made under it, provided that in the event that the amendment, extension or re-enactment of any statutory provision or introduction of any new statutory provision has a material impact on the obligations of either Party, the Parties will negotiate in good faith to agree such amendments to this Agreement as may be appropriate in the circumstances. If, within a reasonable period of time, the Supplier/Service Provider and Transnet cannot reach agreement on the nature of the changes required or on modification of Prices, delivery schedules, warranties, or other terms and conditions, either Party may seek to have the matter determined in accordance with clause 32 [Dispute Resolution] above.

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