However, under Kuwait law, any non-compete clause or CNC is viewed as a constraint on a person's right to work or practise their trade and as such is unenforceable both under the law and as a matter of public policy..
What is the competition protection law in Kuwait?
The Law prohibits anticompetitive activities. Prohibited activities include agreements that prevent, restrict or distort competition, abuse of dominance and anticompetitive mergers. The CPA administers and enforces the Law through its enforcement and advocacy activities..
What is the consumer protection law in Kuwait?
Consumer Protection Act aims to ensure the rights of citizens and prevent commercial fraud and ensure that goods are free of defects defined by Kuwait's Consumer Protection Act as: "Any lack of quality, quantity or efficiency, non-conformity of the commodity or service to the agreed specifications, or to the standards .
What is the law 10 of 2007 concerning the protection of competition in Kuwait?
10 for the Year 2007 (the “Competition Law”), which came into effect on 9 August 2009. Generally, the aim of the Competition Law is to protect economic activity from harmful practices that result in unfair competition..
What is the merger control threshold in Kuwait?
The current jurisdictional thresholds are as follows, per Resolution No. 26 of 2021: Where the parties to the concentration achieve annual sales in Kuwait exceeding KWD 500,000, according to the audited financial statements of the last fiscal year before the concentration..
The current jurisdictional thresholds are as follows, per Resolution No. 26 of 2021: Where the parties to the concentration achieve annual sales in Kuwait exceeding KWD 500,000, according to the audited financial statements of the last fiscal year before the concentration.
The Kuwait Competition Law requires submission of an application to the Kuwait CPA by persons involved in economic concentrations within at least 60 days from the date of the contract or agreement regarding the transaction, where the economic concentration meets certain thresholds established by the Kuwait CPA.
The stated aim of Kuwait's competition law is to ensure free economic activity for all without competition being restricted, prevented or harmed. The Law prohibits anticompetitive activities.
The stated aim of Kuwait's competition law is to ensure free economic activity for all without competition being restricted, prevented or harmed. The Law
Active Enforcement by Kuwait's Competition Agency
Although Kuwait's new merger control regime has been in effect for only a few months, the Agency has made a point to demonstrate its intent to actively enforce it. Since the new thresholds came into force, the Agency has already reviewed five filings, cleared two transactions, and started contacting companies to inquire about at least three transac.
Does Kuwait have a pre-merger notification regime?
The Government of Kuwait has recently amended its competition law to include:
for the first time a pre-merger notification regime based on turnover thresholds. Kuwait's Competition Protection Agency has started to apply the new thresholds and has already launched inquiries into transactions that may have failed to file.
Kuwait Merger Review Process
The Kuwait Competition Law requires parties to file at least 60 days before closing the transaction.14 After reviewing the filing, the Agency may (1) grant approval, (2) grant conditional approval, or (3) deny the transaction.15 When reviewing a proposed transaction, the Agency will evaluate: (i) its potential impact on the preservation or promotio.
Kuwait Turnover Filing Thresholds
Under the new regime in Kuwait, a filing is required to the Competition Protection Agency if the transaction meets any one of the following thresholds:. 1) One of the transaction parties has annual sales in Kuwait exceeding 500,000 Kuwaiti Dinars (approximately € 1.5 million / $ 1.6 million) in the last fiscal year;. 2) All transaction parties have c.
Kuwait's New Competition Regime
Kuwait's legislative amendments and prompt investigations indicate a likely shift towards more active merger control enforcement in this jurisdiction. The Government of Kuwait enacted its first competition law in 2007, and established the Competition Protection Agency ("Agency") under the Minister of Commerce and Industry to oversee its enforcement.
Premerger Notifiable Transactions
The Kuwait Competition Law requires a filing to the Competition Protection Agency from parties intending to participate in an "Economic Concentration" if they meet any of the turnover thresholds, detailed below.10 "Economic Concentration" is defined as a transaction resulting in a change of control over an entity – whether directly or indirectly – .
What is Kuwait's legal system?
Kuwait's legal system is a mixed judicial system that is influenced by sharia law, the French-based civil law system for the legislature and the courts and by common law ( see Question 3 ).
What is the new competition law in Kuwait?
In 2020, the Parliament in Kuwait passed a new competition regulatory regime with the objective of strengthening the competition protections, including:
new merger control regulations (Law No. 72/2020 for the Protection of Competition) (the “ Competition Law ”).
What is the protection of competition law?
Law No. 72 of 2020 Regarding the Protection of Competition Law, which shifts the general policy towards a freer market economy based on freedom of competition, and aims to create a competitive economic environment based on economic efficiency that operates under fair rules and mechanisms in the market.
Communication and Information Technology Regulatory Authority (CITRA) (Arabic: الهيئة العامة للاتصالات وتقنية المعلومات, it is an independent governmental entity in Kuwait
Competition law kuwait
Governing body of football in Kuwait
The Kuwait Football Association is the governing body of association football in Kuwait.
The Kuwait national football team is the national team of Kuwait
National association football team
The Kuwait national football team is the national team of Kuwait and is controlled by the Kuwait Football Association. Kuwait made one World Cup finals appearance, in 1982, managing one point in the group stages. In the Asian Cup, Kuwait reached the final in 1976 and won the tournament in 1980.
Association football is the most popular sport in Kuwait, followed by basketball and cricket. Additional sports on the rise in Kuwait include powerboating, handball, field hockey, rugby union, and shooting.
