Section 8 of the Clayton Act generally prohibits a person from serving as a director or officer of two competing corporations (so called “interlocking directorates”) if each corporation is of a certain minimum size. Under the increased thresholds required by a 1990 amendment to the Act, interlocking directorates will be prohibited where (i) each competing corporation has capital, surplus and undivided profits of more than US$25.319 million (increased from US$24.001 million), and (ii) neither corporation has competitive sales less than US$2.532 million (increased from US$2.4 million). These new monetary thresholds were published in the Federal Register and went into effect on January 29, 2008.
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FTC approves annual adjustments to thresholds for interlocking directorates
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