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Article 2-1 of the 2004 Luxembourg Competition Act (“loi du 17 mai 2004 relative à la concurrence”) introduced the principle that competition between undertakings determines prices. This provision accordingly abolished the general and significant price controlling powers of the Luxembourg State which existed prior to the entry into force of the 2004 Competition Act. The Luxembourg State can still, however, control prices in some particular circumstances: – According to Article 2-2 of the 2004 Competition Act prices or margins can be fixed by Grand-ducal regulation in respect of products or services for which price competition turns

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