What are the three main prohibitions under the Competition Act?
27.1. 4 The most important provisions are found in Part III of the Act which sets out the three main prohibited activities: (1) anti-competitive agreements, decisions and practices; (2) abuse of a dominant position; and (3) mergers which substantially lessen competition.
What does competition law prohibit?
Competition law – an introduction The law aims to promote healthy competition. It bans anti- competitive agreements between firms such as agreements to fix prices or to carve up markets, and it makes it illegal for businesses to abuse a dominant market position.
Is monopoly illegal in Singapore?
Section 47 of the Competition Act (which also came into force on 1 January 2006 but was not subject to a transitional period) stipulates that any conduct on the part of one or more undertakings which amounts to the abuse of a “dominant position” in “any” market in Singapore is prohibited.
Does Competition Act apply government?
Yes, generally the Act will apply to commercial and economic activities carried on by private sector entities in all sectors, regardless of whether they are owned by the Singapore Government.
What is Zambia’s competition law?
The law on competition in Zambia seeks to protect consumers by encouraging competition and fair-trading by prohibiting/regulating monopolies and concentrations of economic power. In addition, the law seeks to strengthen the efficiency of production, and of the distribution of goods and services.
What is a breach of competition law?
A business can breach competition law, even without collusion or agreement with other businesses, if it has a ‘dominant position’ in a market and it unilaterally abuses that dominant position. A business will have a dominant position, broadly speaking, if it has market power.
Is MediaCorp a monopoly?
MediaCorp’s monopoly on free-to-air television was broken in May 2001, when the Singapore government granted new free-to-air licenses to SPH MediaWorks, a subsidiary of publisher Singapore Press Holdings.
Is competition law necessary?
Competition policy is about applying rules to make sure businesses and companies compete fairly with each other. This encourages enterprise and efficiency, creates a wider choice for consumers and helps reduce prices and improve quality.
When did the competition law start in Singapore?
Singapore’s Competition Law. For any company or person aspiring to do business in Singapore, it is crucial to understand the Competition Law that governs all non-state businesses and economic activities in the nation. Officially known as The Competition Act 2004, the law has been effective since July 1, 2007 and promotes efficient markets at home.
What are the antitrust and competition laws in Singapore?
The Competition Act prohibits the following three main activities: conduct which amounts to the abuse of a dominant position in any market in Singapore; and mergers that have resulted or may be expected to result in a substantial lessening of competition within any market in Singapore for goods and services. 2. Enforcement and administration
Who is responsible for the administration of competition in Singapore?
The Competition Commission of Singapore (Commission), which was formally established under the Competition Act, is responsible for the administration of the Competition Act. The Commission may recommend block exemption orders to be made by the Minister for Trade and Industry.
What are the guidelines for the Competition Act?
Guidelines are intended to help businesses understand how the CCCS will administer and enforce infringements of the prohibitions in the Act. This will improve transparency and provide greater clarity to businesses on the competition law regime.