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:
“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)
“Some hours seem not to be occasion for any deed, but for resolves to draw breath in. We do not directly go about the execution of the purpose that thrills us, but shut our doors behind us and ramble with prepared mind, as if the half were already done. Our resolution is taking root or hold on the earth then, as seeds first send a shoot downward which is fed by their own albumen, ere they send one upward to the light.”
—Henry David Thoreau (1817–1862)
“The passions do very often give birth to others of a nature most contrary to their own. Thus avarice sometimes brings forth prodigality, and prodigality avarice; a man’s resolution is very often the effect of levity, and his boldness that of cowardice and fear.”
—François, Duc De La Rochefoucauld (1613–1680)