There have been significant amendments to laws affecting business in SA recently. In May, a section of the Competition Amendment Act of 2009 relating to the criminalisation of cartel conduct became effective.It is now a criminal offence for directors or managers to cause their companies to be engaged in, or knowingly acquiesce to, collusion with competitors to fix prices, divide markets, or win tenders.This has profound implications in respect of the competition commission’s activities over recent years in investigating collusion in industries related to infrastructure — ranging from cement to steel and construction.Stiff penalties have been apportioned in some cases, especially relating to the construction industry. Many such companies are still exposed to potential lawsuits.Meanwhile, SA’s largest steel maker, ArcelorMittal SA, has just settled on a record competition commission fine of R1.5bn for monopoly pricing.SA has now joined other jurisdictions around the world that have cr...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00.