samkeppnisreglur

Samkeppnisreglur refer to the set of laws and rules governing competition in Iceland. They are designed to maintain fair and effective competition in markets, protect consumers, and promote innovation and efficiency. The core elements are prohibitions on agreements that restrict competition, abuse of a leading market position, and rules governing mergers and acquisitions that could seriously lessen competition.

Key prohibitions include cartels and price-fixing agreements, market sharing, bid rigging, and other collusive practices between companies that limit competition. Abuse of dominant position includes actions that exclude competitors or prevent customers from obtaining goods or services on normal terms, such as unfair pricing, tying, or exclusive dealing agreements. State aid and certain practices by public authorities may also be subject to scrutiny under competition rules.

The enforcement body is the Icelandic Competition Authority (Samkeppniseftirlitið), which investigates suspected breaches, requests information, conducts market studies, and may impose fines or require remedies. Companies or individuals may appeal decisions to the courts. Iceland’s competition regime is aligned with European Economic Area rules, reflecting Iceland’s membership in the EEA; EU competition law principles guide interpretation and enforcement, and decisions by the authority can be reviewed in Icelandic courts with consideration of EEA law.

Mergers and acquisitions that may substantially lessen competition are subject to notification and review. The authority can prohibit mergers, approve them with conditions, or request divestitures. Procedures typically involve information requests, market consultation, and timelines for decisions.

Overall, samkeppnisreglur aim to preserve competitive conditions, deter anti-competitive conduct, and ensure efficient markets that benefit consumers and the economy.