Resolution
The OFT released a 500-page statement which was summed up thus:
| “ | This regular and systematic exchange of confidential information as to intended fee increases was anti-competitive and resulted in parents being charged higher fees than would otherwise have been the case. | ” |
All the schools involved were given fines of only £10,000 each for their infringement (out of a possible 10% of total income) but together agreed to pay £3 million into a trust fund aimed to benefit the pupils attending the schools during the period involved ; it has been stressed that the trust fund is not a fine. The schools will pay equal instalments, finishing in 2010, totalling around £70,000 each. Eton and Winchester obtained 50% cuts in fines in return for co-operation in the investigation of other schools.
Read more about this topic: Independent School Fee Fixing Scandal
Famous quotes containing the word resolution:
“It is a part of the American character to consider nothing as desperate; to surmount every difficulty by resolution and contrivance.”
—Thomas Jefferson (1743–1826)
“We have been here over forty years, a longer period than the children of Israel wandered through the wilderness, coming to this Capitol pleading for this recognition of the principle that the Government derives its just powers from the consent of the governed. Mr. Chairman, we ask that you report our resolution favorably if you can but unfavorably if you must; that you report one way or the other, so that the Senate may have the chance to consider it.”
—Anna Howard Shaw (1847–1919)
“A great many will find fault in the resolution that the negro shall be free and equal, because our equal not every human being can be; but free every human being has a right to be. He can only be equal in his rights.”
—Mrs. Chalkstone, U.S. suffragist. As quoted in History of Woman Suffrage, vol. 2, ch. 16, by Elizabeth Cady Stanton, Susan B. Anthony, and Matilda Joslyn Gage (1882)