Question

Consider the following statements regarding Section 3(4) (Permitted Information Agreements) of the Competition Act: Statement 1: Agreements exchanging information about customers are always exempted under Section 3(4). Statement 2: Only non-confidential information exchange is permitted under Section 3(4). Statement 3: Exchange of cost information between competitors can be permitted under Section 3(4). Statement 4: Information agreements must pass the exemption criteria: improving efficiency and benefit to consumers. Which statements are correct?

A Statements 1 and 3 only
B Statements 2, 3, and 4 only
C Statements 1 and 2 only
D Statements 3 and 4 only
E All statements are correct
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