Criminalisation of cartel conduct

Following the recent criminalisation of cartel conduct under section 73A of the Competition Act, the penalties to be imposed have now been clarified.

Yesterday, Presidential Proclamation 36 of 2016 brought into effect section 13 of the Competition Amendment Act, in terms of which directors and managers found to have been engaging in or to have "knowingly acquiesced" in cartel conduct will now face fines of up to ZAR500 000 or jail time of up to 10 years or both. 

The proclamation creates certainty and puts to bed the speculation that has been surrounding the cartel provisions since they came into effect on 1 May 2016 without making clear the actual penalty that would be imposed in the event that an individual was found to have contravened the cartel provisions.

Download PDF Share Back To Listing
Loading data