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:
“Compared to football, baseball is almost an Oriental game, minimizing individual stardom, requiring a wide range of aggressive and defensive skills, and filled with long periods of inaction and irresolution. It has no time limitations. Football, on the other hand, has immediate goals, resolution on every single play, and a lot of violence—itself a highlight. It has clearly distinguishable hierarchies: heroes and drones.”
—Jerry Mander, U.S. advertising executive, author. Four Arguments for the Elimination of Television, ch. 15, Morrow (1978)
“We often see malefactors, when they are led to execution, put on resolution and a contempt of death which, in truth, is nothing else but fearing to look it in the face—so that this pretended bravery may very truly be said to do the same good office to their mind that the blindfold does to their eyes.”
—François, Duc De La Rochefoucauld (1613–1680)
“Unfortunately, many things have been omitted which should have been recorded in our journal; for though we made it a rule to set down all our experiences therein, yet such a resolution is very hard to keep, for the important experience rarely allows us to remember such obligations, and so indifferent things get recorded, while that is frequently neglected. It is not easy to write in a journal what interests us at any time, because to write it is not what interests us.”
—Henry David Thoreau (1817–1862)