Federal Trade Commission.
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 $18,919,000 for Section 8(a)(1), and $1,891,900 for section 8(a)(2)(A).
January 23, 2003.Start Further Info
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)).Start Signature
By direction of the Commission
Donald S. Clark,
[FR Doc. 03-1488 Filed 1-22-03; 8:45 am]
BILLING CODE 6750-01-M