Antitrust Amendments Act of 1990
PL 101-588 (H.R.29), enacted 11/16/1990

PUBLIC LAW 101-588—NOV. 16, 1990 
104 STAT. 2879 
Public Law 101-588 
101st Congress 
An Act 
Entitled the "Antitrust Amendments Act of 1990". 
Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, That this Act may 
be cited as the "Antitrust Amendments Act of 1990". 
SEC. 2. Section 8 of the Clayton Act (15 U.S.C. 19) is amended to 
read as follows: 
"SEC. 8. (aXD No person shall, at the same time, serve as a 
director or officer in any two corporations (other than banks, bank-
ing associations, and trust companies) that are— 
"(A) engaged in whole or in part in commerce; and 
"(B) by virtue of their business and location of operation, 
competitors, so that the eUmination of competition by agree-
ment between them would constitute a violation of any of the 
antitrust laws; 
if each of the corporations has capital, surplus, and undivided profits 
aggregating more than $10,000,000 as adjusted pursuant to para-
graph (5) of this subsection. 
"(2) Notwithstanding the provisions of paragraph (1), simulta-
neous service as a director or officer in any two corporations shall 
not be prohibited by this section if— 
"(A) the competitive sales of either corporation are less than 
$1,000,000, as adjusted pursuant to paragraph (5) of this 
subsection; 
"(B) the competitive sales of either corporation are less than 2 
per centum of that corporation's total sales; or 
"(C) the competitive sales of each corporation are less than 4 
per centum of that corporation's total sales. 
For purposes of this paragraph, 'competitive sales' means the gross 
revenues for all products and services sold by one corporation in 
competition with the other, determined on the basis of annual gross 
revenues for such products and services in that corporation's last 
completed fiscal year. For the purposes of this paragraph, 'total 
sales' means the gross revenues for all products and services sold by 
one corporation over that corporation's last completed fiscal year. 
"(3) ITie eligibility of a director or officer under the provisions of 
paragraph (1) shall be determined by the capital, surplus and undi-
vided profits, exclusive of dividends declared but not paid to stock-
holders, of each corporation at the end of that corporation's last 
completed fiscal year. 
"(4) For purposes of this section, the term 'officer' means an 
officer elected or chosen by the Board of Directors. 
"(5) For each fiscal year commencing after September 30, 1990, 
the $10,000,000 and $1,000,000 thresholds in this subsection shall be 
increased (or decreased) as of October 1 each year by an amount 
equal to the percentage increase (or decrease) in the gross national 
product, as determined by the Department of Commerce or its 
successor, for the year then ended over the level so established for 
Nov. 16, 1990 
[H.R. 29] 
Antitrust 
Amendments 
Act of 1990. 
Corporations. 
15 u s e 1 note. 
104 STAT. 2880 
PUBLIC LAW 101-588—NOV. 16, 1990 
the year ending September 30, 1989. As soon as practicable, but not 
later than October 30 of each year, the Federal Trade Commission 
shall publish the adjusted amounts required by this paragraph. 
"(b) When any person elected or chosen as a director or officer of 
any corporation subject to the provisions hereof is eligible at the 
time of his election or selection to act for such corporation in such 
capacity, his eligibility to act in such capacity shall not be affected 
by any of the provisions hereof by reason of any change in the 
capital, surplus and undivided profits, or affairs of such corporation 
from whatever cause, until the expiration of one year from the date 
on which the event causing ineligibility occurred.". 
Repeal. 
SEC. 3. Section 10 of the Clayton Act (15 U.S.C. 20) is hereby 
repealed. 
AMENDMENTS 
SEC. 4. (a) RESTRAINT OF TRADE AMONG THE STATES.—Section 1 of 
the Sherman Act (15 U.S.C. 1) is amended— 
(1) by striking 
"one million 
dollars" 
and 
inserting 
"$10,000,000", and 
(2) by striking "one hundred thousand dollars" and inserting 
"$350,000". 
(b) MONOPOLY.—Section 2 of the Sherman Act (15 U.S.C. 2) is 
amended— 
(1) by striking 
"one million 
dollars" 
and 
inserting 
"$10,000,000", and 
(2) by striking "one hundred thousand dollars" and inserting 
"$350,000". 
(c) OTHER RESTRAINTS OF TRADE.—Section 3 of the Sherman Act 
(15 U.S.C. 3) is amended— 
(1) by striking 
"one million 
dollars" 
and 
inserting 
"$10,000,000", and 
(2) by striking "one hundred thousand dollars" and inserting 
"$350,000". 
TREBLE DAMAGES FOR THE UNITED STATES 
SEC. 5. Section 4A of the Clajrton Act (15 U.S.C. 15a) is amended by 
striking out "actual" and inserting in lieu thereof "threefold the'. 
Approved November 16, 1990. 
LEGISLATIVE HISTORY—H.R. 29 (S. 994): 
HOUSE REPORTS: No. 101-483 (Comm. on the Judiciary). 
SENATE REPORTS: No. 101-286 accompanying S. 994 (Comm. on the Judiciary)-
CONGRESSIONAL RECORD, Vol. 136 (1990): 
May 15, considered and passed House. 
Oct. 27, considered and passed Senate, amended. House concurred in Senate 
amendments.