
The Competition Commission is investigating 65 bid-rigging cases in the construction sector, involving more than 70 projects worth about R29-billion. According to the Competition Commission, it has uncovered anti-competitive conduct across the construction industry. In an unprecedented move the Commission has announced a “fast track” settlement process in terms of which firms within the construction industry would be able to settle with Commission on financially favourable terms, provided that firms meet the requirements, including full disclosure and co-operation. The deadline for filing applications for “fast track” settlement is 15 April 2011. The Competition Commission’s investigation comprise projects in the public and private sectors and stretches across the construction industry, including markets for construction products such as long steel, mining roof bolts, concrete pipes, plastic pipes, wire-mesh, reinforcing steelbar installation and pilings. Adams and Adams Competition Law Practice Group

3/06/2012 \| Posted in: Competition Law and Commercial Law

Featured news Conditions precedent: At what stage may fulfilment be waived?
Suspensive conditions render the operation and consequences of an agreement subject to the occurrence or not, of an uncertain future event. A suspensive condition can only be waived before the period to fulfil the condition has lapsed. If the period has elapsed without the conditions being fulfilled, there will be no contract in place and nothing to waive. The Supreme Court of Appeal’s judgement in Pangbourne Properties Ltd v Basinview Properties (Pty) Ltd [2011] ZASCA 20 (17 March 2011) has confirmed these provisions.

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