An economic downturn is not entirely the same as a recession for a certain industry. If the overall economy is very good but a certain industry is suffering a recession, can businesses in such an industry apply for permission for concerted actions?

Home Service FAQsConcerted ActionsAn economic downturn is not entirely the same as a recession for a certain industry. If the overall economy is very good but a certain industry is suffering a recession, can businesses in such an industry apply for permission for concerted actions?

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5. An economic downturn is not entirely the same as a recession for a certain industry. If the overall economy is very good but a certain industry is suffering a recession, can businesses in such an industry apply for permission for concerted actions?

A5:

The term “economic downturns” as used in Subparagraph 6 of Article 15 of the Fair Trade Act includes recessions for all industries as a consequence of an overall economic downturn and recessions for individual industries. When the Fair Trade Commission reviews concerted action permission applications from businesses in an industry suffering a recession, besides taking into account the particular circumstances of the industry, the decision will be made mainly based on whether the intended concerted action will benefit the overall economy.

Relevant article(s) of law: Fair Trade Act, Article 15

Updated at：2016-02-22 11:37:19

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