The Minster for Jobs Enterprise and Innovation, Richard Bruton TD, has announced details of his plans to strengthen the enforcement of competition law by introducing new measures to deter and punish anti-competitive behaviour, particularly cartel activity. The main highlight of the Competition (Amendment) Bill 2011 is the doubling of the maximum prison sentence for conviction of an offence relating to cartel activity.
Other measures included in the Bill designed to strengthen the enforcement
framework include:
- An increase in the criminal fines that can be imposed on companies and individuals convicted of competition law offences
- Possibility for the court to order those convicted of competition offences to pay costs arising out of the investigation and court proceedings
- Disqualification of a person convicted of non-indictable competition offences from being a company director
- New measures to make follow-on damages actions easier
These measures are being introduced to meet commitments that Ireland made in the EU/ IMF Financial Assistance Programme dated 28 April 2011. As part of a structural reform, the Irish Government committed to bring forward legislation to strengthen competition law enforcement in Ireland by ensuring the availability of effective sanctions for infringements of Irish and EU competition law by the end of September 2011.
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.
