Competition Act - Alert
On June 9th the amendment to the Competition Act implementing fines of up to R500 000 and prison sentences of up to 10 years or both for cartel crimes commenced. When the cartel crimes section (section 73A) of the Competition Act commenced on 1 May 2016, the proposed amendment to section 74 included in the amendment act applying the higher sanctions for cartel crimes did not also commence. That omission has now been remedied.
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