Iceland (March 27, 2007)

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Governed by: The Competition Act, Law no. 44 19 May, 2005 (“Competition Act”) as amended on Mar. 27, 2007.

Category	Subcategory	Score	Comment
Scope	Extraterritoriality	1	Article 3 says that the Act applies to agreements which are intended to have an effect in Iceland.
Remedies	Fines	1	Article 51 says that the Council can impose fines on undertakings that violate the other articles.
	Prison Sentences	1	Article 57 allows for prison sentences for certain serious breaches of the Act.
	Divestitures	0
Private Enforcement	3rd Party Initiation	0
	Remedies Available to 3rd Parties	0
	3rd Party Rights in Proceedings	0
Merger Notification	Voluntary	0
	Mandatory	3	Article 18 requires notification of a merger.
	Pre-merger	2	Article 18 requires that notification occur within a week of the conclusion of the merger or the announcement of the bid.
	Post-merger	0
Merger Assessment	Dominance	1	Article 18 says that the Competition Council can deem that a merger obstructs effective competition if it creates or strengthens a dominant position.
	Restriction of Competition	0
	Public Interest (Pro D)	0
	Public Interest (Pro Authority)	0
	Other	0
	Efficiency	0
Dominance	Limits Access	1	Article 11(b) lists limiting production and markets to the prejudice of customers as an abusive act.
	Abusive Acts	1	Article 11 bans abusive acts by undertakings of a dominant position.
	Price Setting	1	Article 11(a) lists price setting as an abusive act.
	Discriminatory Pricing	1	Article 11(c) lists applying dissimilar conditions to equivalent transactions as an abusive act.
	Resale Price Maintenance	1	RPM is prohibited under Article 10.
	Obstacles to Entry	0
	Efficiency Defense	0
Restrictive Trade Practices	Price Fixing	1	Article 10(a) prohibits price fixing.
	Tying	1	Article 10(e) prohibits tying arrangements.
	Market Division	0
	Output Restraint	1	Article 10(b) prohibits limiting production.
	Market Sharing	1	Article 10(c) prohibits market sharing.
	Eliminating Competitors	0
	Collusive Tendering/Bid-Rigging	1	Collusive tendering is included under Article 10(a).
	Supply Refusal	0
	Efficiency Defense	1	Article 16 exempts from Article 10 agreements that contribute to improving the production or distribution of goods and promoting economic or technological progress.