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Compliance with inter-company undertakings
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Compliance with inter-company undertakings
01/04/2015
Page Content
β
βAn undertaking, given in acceptance of a ruling of a breach of the Code, is an important document.
It includes an assurance that all possible steps will be taken to avoid similar breaches of the Code in future.
It is very important for the reputation of the industry that companies comply with undertakings.
It is equally important that companies comply with undertakings given during the course of inter-company dialogue.
Although such undertakings are not covered by the Code, and are thus not subject to the requirements of the Code, breaching an inter-company undertaking may indicate that previous inter-company dialogue has ultimately been unsuccessful.
In such circumstances
Paragraph 5.3β
of the Constitution and Procedure allows a formal complaint about the matter which was the subject of the inter-company undertaking to be submitted without the need for further inter-company dialogue.
Before submitting a complaint to the Authority companies should, however, ensure that the passage of time or the publication of new data etc is not such as to impact on previous inter-company undertakings.
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