This Briefing Note outlines the key changes introduced by the Competition (Amendment) Act, 1996 ("the 1996 Act"). The 1996 Act became effective on 3 July 1996. For further information on the 1996 Act or, if you would like to review how the 1996 Act may affect your business, please contact Laura MacDermott or Ken Casey.
OVERVIEW
The 1996 Act creates a number of new criminal offences - entry into or implementation of an agreement or decision or concerted practice which has an anti-competitive object or effect; abuse of a dominant position; breach of the conditions of a Competition Authority licence; and breach of a Ministerial Order restricting a dominant position. Each is a separate criminal offence which would expose participating persons, companies or firms (and in the case of companies, any director, manager, secretary or other similar officer) to very substantial fines and/or terms of imprisonment. In addition, the 1996 Act confers on the Competition Authority power of enforcement and provides for the appointment of a Director of Competition Enforcement. It also enables the Director to carry out an investigation either on his own initiative or as a result of a complaint to him. It provides for the imposition of a fee to accompany notifications under the Mergers, Take-overs and Monopolies (Control) Act, 1978 as amended ("the 1978 Act").
This briefing note is a general guide and readers should not rely on any information contained in it in relation to a particular issue without taking specific legal advice.
