Tougher trade rules
13 September 2012
The Enterprise Bill is set to make a big difference to UK purchasers by stiffening competition laws and creating offences of price-fixing and bid rigging. Susan Singleton explains
The penalties for breaches of UK and European Union competition law are already high. If found guilty, organisations can be fined up to 10 per cent of annual turnover (for up to three years under UK law). Buyers, as well as sellers, can breach competition law, for example by co-ordinating their activities.
Changes are afoot, however. The High Court will pass...