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Published Monday 9th August 2010, 05:48 PM
The Office of Fair Trading (OFT) has published new revised guidance on Competition Disqualification Orders (CDOs), which, in effect, require higher stands of diligence on the part of directors. Directors of companies which breach competition law may be served with a CDO disqualifying them for up to 15 years.
What is particularly worrisome is that the OFT will be able to apply for CDOs against directors on the ground that a director should have known about competition infringements, whether they knew of these or not.
For further details see http://www.oft.gov.uk/shared_oft/business_leaflets/enterprise_act/oft510.pdfDirectors to Face the Music For Competition Breaches
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