7. This area is about 300 miles long (from Marion County TN to Kanawha County WV) and about 100 miles wide. The Landgericht did not define the relevant market, perhaps because it saw it as a case of an unlawful price cartel in itself. Instead, the district court only reported the shares of the defendants in four different universes (1 F.Supp. 339, 339-340). Although the District Court`s decision did not discuss selection from these universes, it seemed to favor the 74% above. This efficacy and efficacy test is the source of the section 27 test. As Sullivan and others have noted, the first part of the rule contains an embryonic version of the per-se rule against price cartels or antitrust.  However, it was possible to read the cases in such a way that the rule of reason applied to both bare and secondary restrictions.
That is exactly what the Supreme Court did in its next big case in Section 1, the Chicago Board of Trade v. the United States.  In United States vs. Addyston Pipe & Steel Co, Justice William Howard Taft (as he was at the time)  provided a methodology for doing so. Addyston was involved in a cartel. The defendants were six manufacturers of cast iron pipes. They divided the land into territories, jointly determined prices for each territory and shared the shops. Their goal was to keep prices low enough to prevent further entries. However, prices were higher than would have led to a competitive market.
Again, the defendants sang the siren song of the cartel, arguing that the agreements were necessary to avoid ruinous competition and that prices were reasonable. The Sixth Circuit Court of Appeals disagreed. Justice Taft presented a methodology for determining legal and illegal agreements under the law. Taft claimed to use the common law trade restriction. Taft stated that the law prohibits agreements whose “sole purpose” is to restrict trade. However, this paper shows that Socony actually anticipated the standard usually attributed to BMI (i.e. Maricopa de Socony`s misinterpretation, as the per-se rule went wrong, a more reasonable reading of Socony may allow for a return to a more reasonable use of the per-se rule). The second important fact concerns the undertakings operating on the relevant market. . . .
(5) The rules provide that the portfolio manager shall charge a fee in accordance with the agreement concluded with the client for the provision of portfolio management services. The fee thus collected may be a fixed amount, a performance-based fee or a combination of both. The portfolio manager must obtain explicit prior authorisation from the client in order to collect fees for any activity for which the portfolio manager directly or indirectly provides a service (provided that this service is outsourced). Those who accumulate medical waste can set up medical waste collection services to treat bio-hazardous, pharmaceutical, chemotheratic, pathological and hazardous waste. Waste management companies are equipped for waste collection from small and large facilities. If you`re a homeowner planning a transformation project or a large cleaning order, you need to do something with the resulting waste. Instead of taking care of it yourself, call a waste management service to transport it for you. 1. A portfolio manager is an entity which, on the basis of a contract or agreement with a client, advises or manages, on behalf of the client, the management of a portfolio of securities or the client`s funds. 9. Investors will find in the disclosure document the name, address and telephone number of the investment relationship agent of the portfolio manager who deals with the investor`s questions and complaints. The recourse and dispute resolution mechanism is also mentioned in the disclosure document.
Investors can contact SEBI to remedy their complaints. Upon receipt of complaints, SEBI engages and follows up the matter with the relevant portfolio manager. 7. Portfolio managers may invest only on behalf of its clients and may not borrow. 3. For registration as a portfolio manager, an applicant must pay a non-refundable application fee of Rs.1 Lakh, have a minimum net asset of Article 2 Crores, pay Rs. 10 Lakhs as a registration fee at the time of issuance of the registration certificate by SEBI and settles 5 Lakhs to SEBI after the three years as a renewal fee. 8. Investors may register on the SEBI website www.sebi.gov.in for information on sebi rules and circulars concerning portfolio managers.
The addresses of registered portfolio managers are also available on the website. 6. The portfolio manager is required to accept at least point 5 lakhs or securities with a minimum value of Rs. 5 Lakhs from the client, while opening the account to provide portfolio management services to the client. 4. SEBI (Portfolio Managers) Regulations, 1993 provides for the regulation of PMS in India. . . .