Competition law ksa

What is the competition policy in Saudi Arabia?
The broad aim of the Competition Law is to protect and encourage fair competition and combat monopolistic practices that affect competition.
It seeks to achieve this by: Prohibiting agreements and arrangements between firms if their objective or effect is to restrict commerce or competition..

The New Law comes into force 180 days from the date of its publication. It seeks to protect and encourage fair competition and combat and prevent monopolistic

Can the competition Council apply the prohibitions in Article 4?

The Competition Council may decide not to apply the prohibitions contained in Article 4 of the Competition Law to practices and agreements in violation of the Competition Law which are deemed to improve efficiency and realise benefits to consumers which outweigh their anti-competitive effect.

Does the general authority for competition have inherent jurisdiction?

the General Authority for Competition (the Authority) will have inherent jurisdiction with regard to overlapping or conflicting competencies of other governmental bodies which may arise when the New Law is applied.

Overview

On 06 March 2019, a new law was issued in the Kingdom of Saudi Arabia (KSA) by Royal Decree No.
M/75 of 1440H (the New Law) effectively to replace the Royal Decree No.
M/25 of 1425H (the Old Law) regarding competition law in the country.
The New Law will take effect from approximately 19 September 2019 (that is, 180 days following publication in th.

Summary

We summarise some of the key changes below:.
1) The aim of the New Law, in addition to protecting and encouraging fair competition and combating anti-competitive practices, newly refers to protecting consumer interest.
More generally, the aim is stated as improving the KSA market and the development of the economy (Article 2).
1) The scope of applic.

What is the fine for preventing law enforcement in Saudi Arabia?

An entity which prevents the law enforcement officer or investigator from performing a task assigned to them under Saudi Arabia Cabinet Decision No. 372/1440 will be punished with a fine not exceeding 5% of the annual sales value.
Where it is impossible to estimate the annual sales, the fine will not exceed five million Riyals.

When did the new competition law of Saudi Arabia come into force?

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The new Competition Law (the “Competition Law”) of the Kingdom of Saudi Arabia (the “Kingdom”) was enacted by Royal Decree M/75 on 29/06/1440 Hijri (corresponding to 6 March 2019) and came into force on 24/01/1441 Hijri (corresponding to 23 September 2019).