The Competition Act 1998 (Small Agreements and Conduct of Minor Significance) Regulations 2000

Citation and commencement

1.  These Regulations may be cited as the Competition Act 1998 (Small Agreements and Conduct of Minor Significance) Regulations 2000 and shall come into force on 1st March 2000.

Interpretation

2.  In these Regulations:

“the Act” means the Competition Act 1998;

“applicable turnover” means the turnover of an undertaking for a business year determined in accordance with the Schedule to this Order; and where a business year does not equal twelve months the applicable turnover shall be the amount which bears the same proportion to the applicable turnover during that business years as twelve months does to that period;

“business year” means a period of more than six months in respect of which an undertaking publishes accounts or, if no such accounts have been published for the period, prepares accounts.

Small agreements

3.  The category of agreements prescribed for the purposes of section 39(1) of the Act is all agreements between undertakings the combined applicable turnover of which for the business year ending in the calendar year preceding one during which the infringement occurred does not exceed £20 million.

Conduct of minor significance

4.  The category of conduct prescribed for the purposes of section 40(1) of the Act is conduct by an undertaking the applicable turnover of which for the business year ending in the calendar year preceding one during which the infringement occurred does not exceed £50 million.

5.  Where in the application of regulation 3 or 4 there is a calendar year in respect of which an undertaking has no business year ending in the preceding calendar year then the applicable turnover shall be the turnover for the preceding calendar year.