Sweeping changes to JCRA fees

Tuesday 2nd June 2009, 3:00PM BST.

JCRA executive director Chuck Webb

FEES charged by the Island’s competition regulator to assess proposed mergers of small businesses are to be slashed by up to 80 per cent.

However, the charge for examining multi-million-pound mergers and acquisitions could double depending on the value of the deal. The rules are to be changed so that fewer proposed mergers are referred to the Jersey Competition Regulatory Authority.

The news was welcomed by the new president of the Jersey Chamber of Commerce, Ray Shead.

He said that he would back anything from the States or regulatory bodies that reduced the cost of doing business and cut the amount of red tape.

The changes to the charges levied by the JCRA will come into force on 5 June under the Competition (Jersey) Law 2005.

The JCRA’s executive director, Chuck Webb said that the proposed changes were consistent with the authority’s core values of fairness, proportionality and efficiency.

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