Structured Copolymer Particles by Miniemulsion Polymerization

Competition Law and Economic Regulation

“…While harm to society will differ from the cartel gains and may be lower than these gains, in practice optimal deterrence is best achieved if penalties directly reflect the benefits that accrue to firms engaging in cartel conduct (Motta, 2008;Wils, 2006). This is reflected in the EC's fining guidelines 19 where fines are set based on the value of sales in the relevant market and the duration of the infringement. Value of affected sales and duration are considered a proxy for the economic importance of the infringement, where economic importance can be interpreted as the importance to either the economy or to the firms involved in the cartel conduct.…”

“…As might be expected, smaller players in a cartel in terms of influence have been penalised less than the ringleader(s). Examples of firms that received larger penalties include New Reclamation, which was influential in the scrap metal cartel, and Aveng Steeledale, 32 a founding member in the mesh and rebar cartels.…”

“…If the firm's price is no higher than economic value, no contravention of s 8(a) can arise. 19 However, the CAC in Mittal did not suggest that such special cost advantages ought to be completely disregarded in an excessive pricing assessment. In fact, paragraph 43 goes on to state: If, however, the firm's price is in fact higher than economic value so determined, the test of reasonableness in respect of the difference remains to be applied.…”

“…Furthermore, while SCI commended the CAC's approach in equating economic value to the notional price of the good or service under conditions of LRCE, it held that the CAC was mistaken in then suggesting 31 that any special advantage should be taken into account in considering the reasonableness of the relationship between the dominant firm's prices and economic value. 32 SCI's expert witness claimed that taking the special cost advantage back into the reckoning at this stage was nonsensical when it had been removed in the first place as it did not represent the costs of a notional entrant. 33 Ultimately, the CAC in SCI did not take into account special cost advantages at any stage of the inquiry.…”

“…In 2002, the gazetted National Commercial Ports Policy laid out the framework for the role of the different players in the sector, the challenges that needed to be addressed and the approach to regulation. 19 The policy highlighted the strategic importance of ports in contributing to the growth and development of the South African economy and put forward key principles for effective ports regulation. The core of these was the need for the NPA, which was within Transnet, to be separated from Transnet and to be established as a new, independent stateowned corporate entity.…”