negative clearance

negative clearance

the procedure in the competition policy of the EUROPEAN UNION whereby the Commission of the European Union issues a decision at the request of an undertaking indicating that it does not consider that a given proposal is prohibited by its competition law. The Channel Tunnel project was so referred. Alternatively it may issue a COMFORT LETTER.
References in periodicals archive ?
The decision completes the environmental analysis of the project site that began in July 2008 when the Stephentown Planning Board approved the environmental aspects of the project by issuing its own Negative Clearance and Determination of Non-Significance for the project.
The applicants asked the Commission to either grant a negative clearance under Article 81(1) of the EC Treaty or an exemption from the cartel prohibition under Article 81(3).
Negative clearance means no more than two of the seven FASB board members have objected to the proposed technical project, ED or final pronouncement.
Squeezing or piercing occurs at the center due to the large negative clearance.
On Wednesday, the Swedish Competition Authority announced a negative clearance ruling with regard to SPP's surplus funds policy.
At the moment, only the Commission has the power to oversee this system, but its anti-trust department is overwhelmed by this sort of information from companies that still have to notify agreements that are certain to gain an exemption or negative clearance from EU competition rules.
The Commission said its Competition Directorate-General had closed the case after sending Eutelsat a negative clearance administrative letter to say it did not fall within the scope of Article 81(1) of the EC Treaty on restrictive business agreements.
Secondly, the Court of Justice defined their legal value in a judgement delivered on July 10, 1980, holding that they constitute neither a decision granting negative clearance nor a decision in application of Article 85@3 of the Treaty and that they do not have the effect of binding the national courts before which the restrictive practices in question are alleged to be incompatible with Article 85.
On June 13, 1997, BSkyB Ltd, BT Holdings Limited, Midland Bank plc and Matsushita Electric Europe Ltd informed the Commission that they were setting up a joint venture company, British Interactive Broadcasting Ltd (BiB, now called Open), and requested negative clearance and/or exemption pursuant to Regulation No 17/62 applying anti-trust joint ventures.
Back in March, the Commission had indicated its intention to grant negative clearance from EU competition rules for the agreements.
While the agreements would qualify for negative clearance from EU competition rules, the Commission considers that this actual clause does fall within the scope of Article 85@1.
The European Commission's Competition Directorate-General has received an application for negative clearance from EU rules on restrictive business practices from the Financial Times, Goldman Sachs, The McGraw Hill Companies Inc and FTSE International for their May 1995 agreements governing the compilation and commercial exploitation of securities market indices (formerly known as FT-Actuaries World Indices and now known as the Financial Times/Standard and Poor's Actuaries World Indices).