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oa Juta's Business Law - Making administrative penalties work

 

Abstract

In this article, I will discuss the need for the accrual of interest on administrative penalties under the Competition Act 89 of 1998 ('the Act') in South Africa. I will compare local and foreign statutes where fines are administered as penalties and examine how those statutes deal with the issue of interest. The local legislation includes :

  • the Criminal Procedure Act 51 of 1977;
  • the Prescribed Rate of Interest Act 55 of 1975;
  • the Independent Broadcasting Authority Act 153 of 1993; and
  • the Fines and Penalties Regulations (see GN 3002 in 24070 of 13 November 2002) promulgated under the Independent Broadcasting Authority Act.
The foreign legislation that I shall consider will be the Enterprise Act 2002 and the Competition Act 1998 ('the English Act'), both in the United Kingdom, as well as the Competition Act No. 44/2005 ('the Icelandic Act') in Iceland.

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/content/ju_jbl/16/1/EJC52614
2008-01-01
2016-12-05
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