The countdown to the commencement date of the Competition Ordinance (“the Ordinance”) officially begins. On 14 December 2015, the key prohibitions under the Ordinance will take effect. Businesses will be familiar with the range of penalties the Competition Tribunal (“the Tribunal”) has power to impose under the Ordinance, notably fines of up to 10% of group turnover in Hong Kong.
Recently, the focus of public commentary on the Ordinance has shifted to the personal liability of directors and officers of businesses found to have infringed the law. Have you considered how to protect yourself, and are you ready for the Competition Ordinance?