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Heiðrún Lind Marteinsdóttir Partner at LEX speaks about the competence of the Icelandic Competition Authority

27. April, 2016

On April 26 2016 the Icelandic Chamber of Commerce and SA the Confederation of Icelandic Employers hosted an open meeting on public authorities’ intervention into the market.

Among speakers was Heiðrún Lind Marteinsdóttir, Attorney and Partner at LEX. In her speech she talked about the competence of the Icelandic Competition Authority to intervene when companies have not breached any provisions of the Icelandic Competition Act. Furthermore Heidrun Lind compared the power of the Icelandic Competition Authority to practice elsewhere. When changes were made to the Icelandic Competition Act, where the Competition Authority was given authority to intervene without breach, the legislator noted that similar provision could be found in Norway, the UK and the US. When considered further, Heidrun Lind pointed out that provisions in the respective countries were not identical to the broad and unclear provision in the Icelandic Competition Act. Heidrun Lind noted that the Icelandic provision could violate the constitutional right of ownership according to the Icelandic constitution.

Other speakers at the meeting were Frosti Ólafsson Managing Director of the Icelandic Chamber of Commerce and Þorsteinn Víglundsson Managing Director of SA the Confederation of Icelandic Employers.

Following the speakers a panel discussion took place under the stewardship of Hrund Rudolfsdóttir the CEO of Veritas Capital in which in addition to the speakers Daði Már Kristófersson President of faculty of Social Sciences at the University of Iceland and Ingunn Agnes Kro attorney and in-house lawyer at Skeljungur took part.

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