Question
Consider the following statements regarding Section 3 (Prohibitions on anti-competitive agreements) of the Competition Act, 2002: Statement 1: Section 3 prohibits agreements that directly or indirectly determine purchase or sale prices. Statement 2: Section 3 applies only to formal written agreements between competitors. Statement 3: Hub-and-spoke cartels involving a single distributor can violate Section 3 if coordinated. Statement 4: Vertical agreements between manufacturers and distributors are always prohibited under Section 3. Which statements are correct?
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