Law firm warns of risks despite revival of regulator’s legal opinions
Independent advice is vital as ‘the Competition Commission’s views aren’t legally binding’
The department of trade, industry & competition has reinstated non-binding advisory opinions by the Competition Commission, offering businesses a way to seek clarity on compliance with the Competition Act, 89 of 1998. However, legal experts caution that these opinions are no substitute for independent legal advice.
According to law firm Adams & Adams, advisory opinions provide an interpretation of the Competition Act as it applies to specific agreements, transactions or practices. While they can guide businesses in understanding compliance requirements, the firm said such opinions are nonbinding. That means they don’t protect companies from enforcement action if the conduct in question is later found to contravene the act...
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