There are small variations in the implementation of the two regimes, but they are based on identical principles. Consequences of breaches Breach of the prohibition on anti-competitive agreements exposes each of the parties to an agreement to fines of up to 10 per cent of its UK group turnover. This normally means the last financial year's turnover but can include the turnover of the previous two years if the breach extends that far. The same level of fines applies to an undertaking which abuses a dominant position. The Office of Fair Trading has wide-ranging powers to investigate suspected breaches.
Officials can enter premises and seize relevant documents.
Offending agreements can be ordered to be terminated. Readers should take professional advice before taking any action based on this bulletin.