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GAZETTE NOTICE NO. 462

THE COMPETITION ACT

(No.12 of 2010)

SETTLEMENT

IT IS notified for general information to section 39 of the Competition Act, 2010 ("the Act"), that in exercise of the powers conferred by section 38 of the Act, the Competition Authority ("the Authority") has entered into a settlement agreement with Basco Products (K) Limited ("the Company") after the Authority initiated investigations of an alleged collusive conduct between certain manufacturers and distributors of paint products in Kenya pursuant to section 31 of the Act. Under the settlement agreement — (a) the Company paid a financial settlement amount of Kenya Shillings twenty million, seven hundred and ninety nine thousand, two hundred and seventy seven and seventy cents (KSh. 20,799,277.70); and (b) the Company gave a written undertaking to desist from any anticompetitive conduct and put in place a competition compliance program to sensitize its leadership and key staff on competition law. Dated the 15th January, 2020. WANG'OMBE KARIUKI, MR/0426130 Director-General. WANG'OMBE KARIUKI, MR/0426130 Director-General.

Dated the 15th January, 2020.

WANG'OMBE KARIUKI,

Director-General.

Extracted Entities (1)

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462

Details

Act / Legislation: THE COMPETITION ACT
Reference: No.12 of 2010
Section: section 39
Signed By: WANG'OMBE KARIUKI
Title: Director-General
Date Signed: 15th January 2020
Page: 27
Extraction Method: regex

Source Gazette

Vol. CXXII No. 16

Published 3rd January 2020