The Competition Amendment Bill is exactly what this country needs. The amount of collusion and price fixing is already obvious, as we've seen recently with SASOL, Tiger Brands, Pharmaceuticals, milk and bread producers etc.
BEE as I understand it, also lends itself on occasion to collusive tendering. This is why the |Arms Deal has been such a fiasco. So...er...why is a Bill intended to fix commercial corruption not being approved?
President Kgalema Motlanthe has declined to enact two controversial bills and has returned them unsigned to Parliament.
The Competition Amendment Bill is intended to strengthen existing provisions of the Act in fighting collusion (complex monopolies) and cartels which undermined competitiveness of downstream industries and robbed consumers.
Among other things, the bill introduces a criminal sanction regime against individuals found guilty of causing a firm to engage in price fixing, output restriction, market allocation and collusive tendering.