Lawyers in the United Kingdom can expect a surge of new business following the entry into full force of the Enterprise Act on Friday, according to competition law experts.
Speaking to the Law Zone news service last week, Dr Alan Riley, research fellow in competition law at Nottingham Law School, warned that many executives may be stung by the provisions contained within the bill regarding price fixing, and the new powers afforded to the Office of Fair Trading (OFT) by the Act, which allow it to disqualify company directors whose firms have infringed competition rules for up to 15 years.
'Price-fixing includes all forms of price-fixing - direct and indirect. If a deal between competitors concerns pricing, it's illegal,' he warned, concluding:
'Disguising price agreements as rebates, margins or surcharges will not wash with the Office of Fair Trading. Whatever an agreement is called, if it amounts to a deal on pricing between competitors, then call in the lawyers before the OFT calls on you.'
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment