Revised Jurisdictional Thresholds for Section 8 of the Clayton Act

AGENCY:

Federal Trade Commission.

ACTION:

Notice.

SUMMARY:

The Federal Trade Commission announces the revised thresholds for interlocking directorates required by the 1990 amendment of section 8 of the Clayton Act. Section 8 prohibits, with certain exceptions, one person from serving as a director or officer of two competing corporations if two thresholds are met. Competitor corporations are covered by Section 8 if each one has capital, surplus, and undivided profits aggregating more than $10,000,000, with the exception that no corporation is covered if the competitive sales of either corporation are less than $1,000,000. Section 8(a)(5) requires the Federal Trade Commission to revise those thresholds annually, based on the change in gross national product. The new thresholds, which take effect immediately, are $20,090,000 for section 8(a)(1), and $2,009,000 for section 8 (a)(2)(A).

EFFECTIVE DATE:

January 27, 2004.

FOR FURTHER INFORMATION CONTACT:

James F. Mongoven, Bureau of Competition, Office of Policy and Evaluation, (202) 326-2879.

Authority: 15 U.S.C. 19(a)(5).