Antitrust Improvements Act

Summary

Antitrust Improvements Act - Title I: Declaration of Policy - Declares it the purpose of Congress in this Act to support and invigorate effective and expeditious enforcement of the antitrust laws by improving and modernizing antitrust investigation and enforcement mechanisms, to facilitate the restoration and maintenance of competition in the marketplace, and to prevent and eliminate monopoly and oligopoly power in the economy. Title II: Antitrust Civil Process Act Amendments - Revises the discovery procedures and requirements for Federal civil antitrust investigations. Revises the procedures and requirements for seeking an order modifying or setting aside discovery demands by the Justice Department in antitrust cases. Title III: Federal Trade Commission Act Amendments - Increases the civil penalty to be imposed upon a person, partnership or corporation who fails to file a report or obey a subpena as required by the Federal Trade Commission Act within fifteen days after receiving a notice of default from the Commission to not less than $1,000 per day and not more than $5,000 per day. Specifies the circumstances under which a court may issue an order statying the accumulation of such penalties. Title IV: Parens Patriae - Permits the Attorney General of a State to bring a civil action as parens patriae under the Clayton Antitrust Act to recover damages on behalf of any person class of persons, or the State or any political subdivision thereof injured by reason of anything forbidden by Federal antitrust laws. Enumerates methods of computing damages. Permits the Attorney General of the United States to bring such actions if a State attorney general fails or declines to do so. Title V: Premerger Notification - Provides that, notwithstanding any other provision of law, no person or persons shall acquire, directly or indirectly, the whole or any part of the stock or other share capital or of the assets of another person or persons, if the acquiring person or persons, or the person or persons the stock or assets of which are being acquired, or both, are engaged in commerce or in any activity affecting commerce, and (1) (A) the acquiring person or persons have total assets or annual net sales in excess of $100,000,000 and (B) the person or person the stock or assets of which is being acquired have total assets or annual net sales in excess of $10,000,000; or (2) the combined total assets or annual net sales of the acquiring person or persons and the person or persons the stock or assets of which is being acquired are in excess of $100,000,000; until sixty days after such person files a premerger notification with the Federal Trade Commission and the Antitrust Division of the Justice Department. Provides for a civil penalty of not more than $10,000 for each day during which such person directly or indirectly holds stock or assets, in violation of this title. Title VI: Nolo Contendere - Provides that a plea of nolo contendere hereafter entered in a criminal proceeding under the antitrust laws shall be prima facie evidence against such defendant in any civil action brought by any person against such defendant under said laws as to all matters in the indictment necessary to sustain a judgment of conviction upon a jury verdict that the defendant was guilty of the offense charged in the indictment. Title VII: Miscellaneous - Makes the Clayton Antitrust Act applicable to persons in or affecting commerce. Requires that complex antitrust cases, as determined by the Attorney General, be expedited by the court hearing them.

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Documents

2 official files

• Reported to Senate with amendment(s)

  summary · EN · 6 May 1976

  Open at official source

• Introduced in Senate

  summary · EN · 21 March 1975

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