Page:Competition Ordinance (Cap. 619).pdf/98

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 * (b) a concerted practice engaged in by undertakings in any calendar year if the combined turnover of the undertakings for the turnover period does not exceed $200,000,000; or
 * (c) a decision of an association of undertakings in any calendar year if the turnover of the association for the turnover period does not exceed $200,000,000.

(2) Subsection (1) does not apply to an agreement, a concerted practice, or a decision of an association of undertakings, that involves serious anti-competitive conduct.

(3) Subject to subsection (4), 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.

(4) 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.

(5) In this section—

“preceding calendar year” (對上公曆年) means the calendar year preceding the calendar year mentioned in subsection (1)(a), (b) or (c);

“turnover” (營業額)—
 * (a) in relation to an undertaking that is not an association of undertakings, means the total gross revenues of the undertaking whether obtained in Hong Kong or outside Hong Kong; and
 * (b) in relation to an association of undertakings, means the total gross revenues of all the members of the association whether obtained in Hong Kong or outside Hong Kong.