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Competition Law and Cartel Quiz

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Questions and Answers

What is the maximum fine a business could be fined for breaching competition law?

10% of its annual turnover (correct)

20% of its annual turnover

5% of its annual turnover

15% of its annual turnover

What could be the consequence of forming a cartel?

Criminal prosecution (correct)

Fines up to 10% of its annual turnover

Imprisonment for up to 5 years

Disqualification from being a director of a company

What is the safest way to avoid conversations on pricing, strategy & customers with a rival firm?

Negotiate a new contract

Have a chat about prices

Avoid talking business with rivals (correct)

Form a cartel

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