The Bill seeks to close loopholes in the current Competition Act, and define contraventions and uncompetitive conduct by companies more explicitly
First-time offenders will be penalised and in some cases the holding companies will also be targeted
Amendments will be challenged if they curtail the state’s ability to promote local manufacturing
‘The draft Competition Amendment Bill is one of the ways government seeks to bolster economic inclusion by allowing more players in the market’
Commentators say information may not be volunteered as readily if the consequence is jail time for directors providing it.
