UK competition authority CMA issued proceedings in the court seeking the disqualification of two directors engaged in the breach of competition law in the residential services in the Berkshire area.
The CMA imposed fines for 4 estate agents operating in the Berkshire area that breached UK competition law by agreeing to fix and maintain a minimum level of commission fees in the Berkshire area. The CMA can issue proceedings under the Company Directors Disqualification Act 1986, subsequent to an investigation and seek for disqualification of the company that have impact in the breach of competition law and the disqualification decision of the court will be binding for those executives. According to the aforementioned Act, company executives can be banned for up to 15 years to holding company directorships or to performing certain roles in the company.
This process has been initiated for this case and the court’s decision on the disqualification request for the directors is expected. The CMA will not seek the disqualification of the co-operating directors of the two other estate agencies due to their leniency agreement.
(CMA Decision – 31.03.2020)