Aberdare Cables has confirmed that is has been granted conditional immunity against prosecution before the Competition Tribunal, in respect of a May 2010 announcement that the Competition Commission had launched an investigation into certain alleged prohibited practices in the power cable market.
On 18 March this year, the Commission referred the matter to the Competition Tribunal.
In a statement from Aberdare Cables, the company says that since the Commission commenced its investigation Aberdare Cables’ management, it has co-operated fully in terms of their investigations and has also undertaken its own internal review.
As a result, Aberdare Cables submitted a formal leniency application to the Commission, in terms of its Corporate Leniency Policy (CLP). The application concerned contraventions of Section 4 of the Competition Act 89 of 1998 related to the supply of power cables.
Given that it is compliant with the Commission’s requirements as set out in the conditional immunity agreement, Aberdare Cables does not anticipate incurring any penalties as prescribed in the Competition Act, it adds in the statement.
The company will continue to assist the Commission with its investigations into alleged prohibited practices within the power cable market and with any resultant referrals that may take place.