The European Union uses an exemption system in its competition law.This means that:
A) certain industries are exempted from antitrust law because of their technology.
B) an agreement can be entered into if the prospective parties can obtain a "negative clearance" from the European Commission.
C) certain countries are exempt from the competition law until they reach further economic development.
D) none of these are correct.

Question

Quizplus · Accepted Answer

The exemption system in the EU competition law allows for agreements to be exempted from antitrust law if the involved parties can obtain a "negative clearance" from the European Commission. This means that the Commission examines the agreement and declares it does not violate competition rules. However, this exemption system does not apply to certain industries or countries based on their technology or economic development.

The European Union Uses an Exemption System in Its Competition