Common use of LEGISLATIVE FRAMEWORK Clause in Contracts

LEGISLATIVE FRAMEWORK. 1. Each Party shall adopt or maintain comprehensive legislation on competition that proscribes anti-competitive conduct, with the objective of promoting economic efficiency and consumer welfare, and shall take appropriate action with respect to such conduct. 2. The competition law of the Parties shall, in their respective territories, effectively address: (a) agreements between enterprises, decisions by associations of enterprises and concerted practices which have as their object or effect the prevention, restriction or distortion of competition; (b) abuses by one or more enterprises of a dominant position; and concentrations between enterprises which would significantly impede effective competition.

LEGISLATIVE FRAMEWORK. 1. Each Party shall adopt or maintain comprehensive legislation on competition that proscribes anti-competitive conduct, with the objective of promoting economic efficiency and consumer welfare, and shall take appropriate action with respect to such conduct. 2. The competition law of the Parties shall, in their respective territories, effectively address: (a) agreements between enterprises, decisions by associations of enterprises and concerted practices which have as their object or effect the prevention, restriction or distortion of competition; (b) abuses by one or more enterprises of a dominant position; , and concentrations between enterprises which would significantly impede effective competition.