The provisions on competition law are a significant part of the European Economic Area Agreement (the EEA Agreement), and are to be found in the main body of the Agreement, its protocols and annexes. All European Union countries, as well as Norway, Iceland and Liechtenstein, are parties to the Agreement, which was enacted into domestic law here by law No. 2/1993. The objective of the Agreement's competition rules is to create a unified and robust competitive environment in the EEA area. The main substantive provisions of the Agreement on competition matters are found in Article 53, which prohibits undertakings' concerted practices, Article 54, which prohibits the abuse of a dominant position in the market, and Article 57, which deals with mergers of undertakings.
The competition rules of the EEA Agreement are only applied when the agreements and decisions of undertakings in the EEA area can have a direct or indirect effect on trade within the area. The competition rules of the EEA Agreement apply alongside the Icelandic Competition Act. No. 44/2005. The competition rules of the Agreement are applied by the EFTA Surveillance Authority (ESA), the Commission of the European Communities, and the Competition Authority. The division of cases between the ESA and the Commission is based on Articles 56 and 57 of the EEA Agreement. The Competition Authority is required, on the basis of competition law that the application of Articles 53 and 54 of the Agreement means that agreements between undertakings affect the territory, see in particular Chapter VII of the Competition Act. Further information on the EEA Agreement's competition rules can be found here. Complaints and suggestions regarding breaches of the EEA Agreement's competition rules can be directed to European Space Agency or to the Competition Authority.
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