In yesterday’s budget speech, Minister of Economic Development, Ebrahim Patel announced that the Sections (Section 73A) in the Competition Amendment Act of 2009 which relate to the criminalisation of certain prohibited practices, will be in effect from 1 May 2016.

The relevant Section provides that it is a criminal offence for directors or managers of firms to cause the firm to engage in or knowingly acquiesce to the firm engaging in a prohibited practice in terms of Section 4(1)(b) of the Competition Act – the aforementioned Section prohibits colluding with competitors to fix prices, divide markets or collude in tenders.

The firm which is the subject of the prohibited practice, may not directly or indirectly pay any fine that may be imposed on a person convicted of such an offence.

Jac Marais
Partner | Commercial Attorney
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