The Competition Act prohibits three main activities: agreements, decisions, and practices which prevent, restrict, or distort competition; the abuse of a dominant position; and mergers that substantially lessen competition..
What is competition law policy Singapore?
The Competition Act prohibits anti-competitive activities. Specific prohibited activities include agreements that prevent, restrict or distort competition, abuse of dominance and mergers that substantially lessen competition..
What is Section 54 of the Competition Act Singapore?
Section 54 of the Competition Act, Chapter 5.
B of Singapore (Competition Act) prohibits mergers that have resulted, or may be expected to result, in a substantial lessening of competition (SLC) within any market in Singapore (section 54 prohibition)
Officially known as The Competition Act 2004, the law has been effective since July 1, 2007 and promotes efficient markets at home. The Act prevents unfair trade practices and restricts the formation of cartels and monopoly activity in trade.
The Competition Act prohibits three main activities: agreements, decisions, and practices which prevent, restrict, or distort competition; the abuse of a dominant position; and mergers that substantially lessen competition.
An Act to make provision about competition and the abuse of a dominant position in the market; and to establish the Competition and Consumer Commission of
The Competition Act was enacted to provide a generic competition law to protect consumers and businesses from anti-competitive practices of private entities. The Competition Act has three prohibitions. The regulations and orders are made pursuant to the powers conferred under the Competition Act 2004.
Main Rules
The Competition Act 2004 (the “Competition Act”) is the primary statute which governs competition law in Singapore, and aims to protect consumers and businesses from anticompetitive practices in Singapore. It prohibits three types of anticompetitive conduct:. 1) Anticompetitive agreements, decisions and practices (the “section 34 prohibition”);. 2) A.
Sanctions
The CCCS has the power to issue directions to bring infringements of the Competition Act to an end. It may also impose financial penalties on undertakings for infringing the Competition Act. The amount of the penalty imposed may be up to 10 per cent of the turnover of the business of the undertaking in Singapore for each year of infringement, up to.
What is Competition & Consumer Commission of Singapore?
A body called the Competition and Consumer Commission of Singapore is established, which is a body corporate with perpetual succession and is by that name capable of doing and suffering any other acts or things that bodies corporate may lawfully do and suffer. 4. (1) The Commission must have a common seal and the seal .
Why is the Competition Act enacted?
The Competition Act was enacted to provide a generic competition law to protect consumers and businesses from anti-competitive practices of private entities. The Competition Act has three prohibitions. The regulations and orders are made pursuant to the powers conferred under the Competition Act 2004.
Competition act of singapore
Singaporean government agency
The Competition and Consumer Commission of Singapore (CCCS) is Singapore's competition regulator. It was first established as the Competition Commission of Singapore on 1 January 2005 as a statutory board under the Ministry of Trade and Industry, taking up its current name on 1 April 2018 to reflect its new role in consumer rights, a role previously under SPRING Singapore. CCCS enforces the Competition Act 2004, and has broad legal powers to investigate and penalize infringing parties. It now enforces the Consumer Protection Act, which protects consumers against unfair trade practices in Singapore.
The Padang is an open playing field located within the Downtown
Open playing field in Connaught Drive, Singapore
The Padang is an open playing field located within the Downtown Core of the Central Area in Singapore. It includes the Padang Cricket Ground. The Padang is surrounded by several important landmarks, which include Saint Andrew's Cathedral, City Hall, the Old Supreme Court Building and the City Hall MRT station.
