Tribunal confirms WBHO bid rigging settlement Jul 13 2016 17:34
Price-fixing probe hits building firms Cape Town - The Competition Tribunal confirmed on Wednesday a settlement agreement between Wilson Bayley Homes-Ovcon (WBHO) and the Competition Commission. This was the last case in the investigation into bid rigging in the construction sector that the Competition Commission referred to the Tribunal in October last year. The commission alleged that WBHO colluded with Group Five by fixing contracts relating to the N17 link road between New Canada and Soccer City in Johannesburg. WBHO [JSE:WBO] has been granted immunity from an administrative penalty in relation to its participation in a number of prohibited practices in contravention of the Competition Act. According to the Tribunal, the settlement has been delayed some time because of disagreement between WBHO and the Commission over the wording of the consent order. The settlement agreement relates to collusive tendering in the construction industry, in which parties submitted cover prices with a view to allocate projects. WBHO entered into negotiations with the Commission in order to settle the matter. "As part of its settlement, WBHO has agreed not to engage in further prohibited practices and has among other things, implemented a competition law compliance programme to ensure that its employees, management, directors and agents do not engage in any future contraventions of the act," said the Tribunal. When the Commission referred the case to the Tribunal, Commissioner Tembinkosi Bonakele said the construction sector remains one of the key sectors of the economy which government is prioritising to drive infrastructure development. It is therefore necessary to address any collusive conduct which might inflate the costs of rolling out infrastructure development. -- -- You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] . --- You received this message because you are subscribed to the Google Groups "YCLSA Discussion Forum" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send an email to [email protected]. Visit this group at https://groups.google.com/group/yclsa-eom-forum. To view this discussion on the web, visit https://groups.google.com/d/msgid/yclsa-eom-forum/CAD8w5J5XYYJVwkFftk%3DanyyG1Qj2MM5ZZ%3DqGK%3DC4h4kU054WwA%40mail.gmail.com. For more options, visit https://groups.google.com/d/optout.
