Johannesburg - The Competition Amendment bill which establishes personal individual responsibility for directors and officers of companies participating in "hard core" cartels, was passed by the National Assembly on Thursday.
Minister of Trade and Industry Mandisi Mpahlwa said the bill was not rewriting the competition law, but building on existing foundation and fill in the gaps that have been identified through the practical experience of implementing the law.
"Whereas great strides have been made in uncovering cartels in various sectors such as milling, bread, milk, pharmaceuticals and scrap metal," he said, "it is doubtful, whether the sanctions provided by the act are an adequate deterrent to such behaviour." - I-Net Bridge