The following Competition practice note Produced in partnership with Kingsley Napley provides comprehensive and up to date legal information covering:
The creation of the Competition and Market Authority (CMA) was accompanied by a radical change in the element of the criminal cartel offence the prosecuting authorities must prove to convict directors and officers.
The entry into force of the Enterprise and Regulatory Reform Act 2013 (ERRA 2013) on 1 April 2014, saw the removal of the dishonesty element to the cartel offence. An individual will commit an offence if he or she agrees with one or more persons (whether dishonestly or otherwise) that two or more undertakings will engage in certain prohibited cartel arrangements, namely price-fixing, market-sharing, bid-rigging, or limiting output. Any such arrangements must have taken place in the UK.
As explained further below, the effects of this change are mitigated to some extent by the introduction of new exceptions (concerning notification of customers, publication of arrangements, complying with a legal requirement) and defences (including that the person accused did not intend to conceal information from customers or the CMA, and sought legal advice). Nonetheless, the changes provide greater scope for prosecutions and shift the burden of proof onto defendants when putting forward a defence.
In England, Wales and Northern Ireland prosecutions are primarily undertaken by the CMA, although the Serious Fraud Office will retain their powers to bring such prosecutions, as will other agencies with the consent of the CMA. Successful prosecutions will see
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
Commercial Property Standard Enquiries (CPSEs) are industry standard pre-contract enquiries used in commercial property transactions. CPSEs are endorsed by the British Property Federation and are free to use. The CPSEs include specific environmental enquiries at enquiry 15 and there are several
There may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the shoes of one of the original parties. This is
This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.Note: this Practice Note does not deal with the
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.