COSATU congratulates Competition Commission

By Henry Booysen
31 May 2008

COSATU says that it welcomes the suspension of Adcock Ingram Critical Care’s Managing Executive Arthur Barnett. Barnett stands accused of committing perjury during the Commission’s probe into the company’s participation in a bid-rigging cartel.

“Arthur Bar Arthur Barnett, the suspended managing executive of Adcock Ingram Critical Care, a subsidiary of Tiger Brands, stands accused of committing perjury during the Commission's probe into the company's participation in a bid-rigging cartel,” says Patrick Craven COSATU spokesperson.

COSATU says in a statement that the competition authorities can only fine up to 10% of companies revenue, but individual directors can only be penalised for lying or misleading the Commission or Competition tribunal.

If Barnett is fined guilty he may be given a maximum penalty of a six month jail sentence or a R2000 fine.
The federation says that it’s continuing its campaign of mass action against price-fixing.