COMPETITION ORDINANCE—SCHEDULE 1
Ord. No. 14 of 2012
A1519
6. Conduct of lesser significance
(1) The second conduct rule does not apply to conduct engaged in by an undertaking the turnover of which does not exceed $40,000,000 for the turnover period.
(2) Subject to subsection (3), the turnover period of an undertaking is—
- (a) if the undertaking has a financial year, the financial year of the undertaking that ends in the preceding calendar year; or
- (b) if the undertaking does not have a financial year, the preceding calendar year.
(3) The turnover period of an undertaking is the period specified as such for the purpose of this subsection in the regulations made under section 163(2) if—
- (a) for an undertaking that has a financial year—
- (i) the undertaking does not have a financial year that ends in the preceding calendar year; or
- (ii) the financial year of the undertaking that ends in the preceding calendar year is less than 12 months; or
- (b) for an undertaking that does not have a financial year—
- (i) the undertaking is not engaged in economic activity in the preceding calendar year; or
- (ii) the period in which the undertaking is engaged in economic activity in the preceding calendar year is less than 12 months.
(4) In this section—
“preceding calendar year” (對上公曆年) means the calendar year preceding the calendar year in which the conduct mentioned in subsection (1) is engaged in;
“turnover” (營業額) means the total gross revenues of an undertaking whether obtained in Hong Kong or outside Hong Kong.
