The Competition Appeal Court issued a rare adverse costs order against the Competition Commission for acting ultra vires by issuing a divestiture directive against African Rainbow Capital (ARC) following the Fresh Produce Market Inquiry, and threatening that non-compliance with the directive could result in the Commission applying to the Competition Tribunal to make the divestiture directive an order.
South African businesses navigating merger applications and compliance frameworks are well-acquainted with the Competition Commission’s rigorous focus on transformation. This mandate is most visible in the merger space, where the Commission routinely requires merging parties to implement employee share ownership programmes (ESOPs) or transactions involving historically disadvantaged persons (HDPs) to promote a greater spread of ownership.
On 14 February 2019 the President assented to the Competition Amendment Act, 18 of 2018 (Amendment Act). The Amendment Act will begin on a date to be proclaimed by the President in the Government Gazette. And this is not just another amendment act.
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