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C5.3. 2
1 MAY 1980
[UGBIYED
Ref 169
DEPARTMENT OF TRADE
1 Victoria Street, London SWIH OET
Press Office: 01-215 5061
Out of hours: 01-215 7877
Press notice
March 21, 1980
PROTECTION OF TRADING INTERESTS BILL RECEIVES ROYAL ASSENT
The Protection of Trading Interests Bill, first introduced into the House of Commons by Mr John Nott, Secretary of State for Trade, last October, received Royal Assent last night.
The Act has four major components:
*
It provides means by which the Secretary of State may
counter measures taken or proposed under the law of
another country which would damage the trading interests of the United Kingdom.
It provides that the Secretary of State may prohibit
compliance with certain requirements of a court or
authority in an overseas country seeking commercial
documents or information located outside that country.
It provides that judgements for multiple damages given
in civil proceedings by courts of overseas countries shall not be enforceable in the United Kingdom. It also provides that judgements given in overseas countries,
based on certain competition laws, which the Secretary of State may specify by Order, shall not be enforceable in the United Kingdom.
It enables companies and individuals carrying on business in the United Kingdom to recover through the UK courts
a proscribed proportion of any sum paid under a multiple damage judgement given in an overseas country.
The Act repeals and supersedes the Shipping Contracts and Commercial Documents Act 1964.