Minister publishes Competition (Amendment) Bill 2011 to strengthen enforcement of competition law, battle white-collar crime and help reduce costsMinister for Jobs, Enterprise and Innovation today [Thursday] published the Competition (Amendment) Bill 2011, to strengthen the enforcement of competition law and battle white-collar crime in Ireland, and ultimately to help reduce costs across the economy and create jobs. The Minister also signed into law a series of measures aimed at improving investigation of often complex competition offences. The main provisions of the Bill include:
· an increase from 5 to 10 years of the maximum prison sentence for conviction of an offence relating to anti-competitive agreements, decisions and concerted practices
· large increases in fines for competition offences across the board
· a body convicted of competition offences may have to pay costs of investigation and court proceedings for the first time
· it will be possible for the first time to disqualify a person convicted of non-indictable competition offences from being a company director
· a person convicted of certain competition offences will not be eligible for probation
· it will be easier for private individuals affected by anti-competitive practices to prove an action for damages against a cartelist, once public enforcement proceedings have successfully been taken.
Furthermore, the Minister announced that he has signed an order to commence section 10 of the Competition Act 2002, which provides measures to assist juries in considering complex financial and economic evidence during trials for breaches of competition law.
The government has an obligation under the EU/IMF Programme of Financial Support for Ireland to bring forward legislation to strengthen enforcement of competition law before the end of Q3 2011.
The Minister said:
"As I have said repeatedly, we must work hard to reduce costs across the economy if we are to create an environment in Ireland in which job-creating businesses can start-up, grow and succeed. One key aspect of this is ensuring that there are effective measures in place to combat anti-competitive practices which hurt the ordinary consumer, small business, and ultimately the economy.
"This legislation will provide a more effective deterrent and punishment for individuals or organisations who engage in price-fixing, cartels, abuse of a dominant position and other anti-competitive practices. I have also today signed into law measures to make it easier to investigate and prosecute what are often highly complex cases in this area.
"These measures mark a significant improvement in the competition regime in Ireland. Powerful people and organisations who abuse their position to the detriment of the ordinary consumer and small business will now face a greater chance of prosecution, and tougher penalties if convicted. It will make a real difference in the fight to bring down costs and ultimately help our economy on the road to recovery".