Article 81

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A provision of the Treaty of Rome that prohibits anticompetitive agreements the aim or effect of which is to restrict, prevent, or distort competition in the EU (see also competition law). Article 81 (formerly 85) applies directly in all member states (see Community legislation) and is often used against cartels; it only applies when the agreement affects trade between member states. Agreements that infringe the Article are void and unenforceable; third parties have the right to bring actions for damages if they have suffered loss through the operation of such agreements. Infringement of the Article may result in EU fines of up to 10% of annual worldwide turnover. In the UK there are very similar provisions in the Competition Act 1998, which prohibit anticompetitive agreements under Chapter I of that Act. See also block exemption.

Subjects: Law.

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