- Richard WhishRichard WhishEmeritus Professor of Law at King’s College London
- and David BaileyDavid BaileyVisiting Professor of Law at King’s College London
This chapter examines Article 101(3) of the Treaty on the Functioning of the European Union (TFEU). Article 101(3) provides a ‘legal exception’ to the prohibition in Article 101(1) by providing that it may be declared inapplicable in respect of agreements, decisions or concerted practices, or of categories of agreements, decisions or concerted practices, that satisfy four conditions. After discussing the burden and standard of proof under Article 101(3) and the application of that provision to agreements, including restrictions of competition by object, this chapter discusses the four conditions in Article 101(3). It then considers the implications of Regulation 1/2003 for undertakings and their professional advisers, and in particular their need to ‘self-assess’ the application of Article 101(3) to agreements. The final section of this chapter describes the system of so-called ‘block exemptions’.