"JERSEY'S EVENING PROPAGANDA"
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Thursday, 7 July 2011
£89,000 fine ‘is a warning’
John Curran Executive Director Of JCRA
A RECORD £89,000 fine has been handed out for a breach of the Competition Law to a company that took over Jersey Gas last year.
Brookfield Asset Management was penalised for failing to notify the Island’s competition regulator of the takeover.
It is the largest fine ever imposed by the Jersey Competition Regulatory Authority. And the authority has warned other firms that they face heavy penalties if they do not meet the requirements of the Competition Law when they are involved in mergers or acquisitions.