Competition Act, 1998 (Act No. 89 of 1998)NoticesGuidelines for the Determination of Administrative Penalties for Prohibited Practices5. Methodology for the calculation of penaltiesStep 6: Consideration of the Statutory Limit |
| 5.20 | As stipulated in section 59(2) of the Act, the administrative penalty may not exceed 10% of the firm's annual turnover in the Republic and its exports from the Republic during the firm's preceding financial year. |
| 5.21 | Where the administrative penalty determined above exceeds the maximum allowable statutory limit of 10% of the firm's annual turnover during its preceding financial year, the Commission will apply the maximum allowable administrative penalty. |
| 5.22 | Where an association of firms is liable for payment of an administrative penalty on the basis of its own turnover or income, the administrative penalty imposed will not exceed 10% of that turnover or income in the preceding financial year. |
| 5.23 | The preceding financial year that the Commission will generally consider for the purposes of the statutory cap, will be the financial year preceding that in which the administrative penalty is imposed. If there is no turnover in that preceding financial year it shall be the last year in which there is turnover available. |