What Singapore Competition Act 2004 (Cap. 50B) - Antitrust and Market Competition requires
The Competition Act 2004 (Cap. 50B) promotes and maintains competitive markets in Singapore, prohibiting anti-competitive agreements and abuses of dominant position, and administered by the Competition and Consumer Commission of Singapore (CCCS, formerly the Competition Commission of Singapore). Section 34 (the Section 34 Prohibition) prohibits agreements between undertakings, decisions by associations of undertakings, and concerted practices that have as their object or effect the prevention, restriction, or distortion of competition within Singapore, including price-fixing, market allocation, bid-rigging, and output restriction. Section 47 (the Section 47 Prohibition) prohibits conduct by one or more undertakings that amounts to the abuse of a dominant position in any market in Singapore, including predatory pricing, excessive pricing, discriminatory pricing, exclusive dealing, and tying arrangements. The Competition (Amendment) Act 2018 introduced a merger regime with mandatory notification for transactions that result in a substantial lessening of competition in Singapore under s. 54, with pre-notification mandatory for transactions meeting prescribed thresholds. CCCS may impose financial penalties of up to 10% of the infringing undertaking's turnover in Singapore for each year of the infringement, up to a maximum of three years, for breaches of the Section 34 or Section 47 Prohibition. A leniency programme for cartel participants is available under CCCS's leniency policy. The Competition (Amendment) Act 2022 introduced the consumer protection provisions (Part IIIA) addressing unfair practices against consumers.
Pillar: Competition & Antitrust · Authority: Competition and Consumer Commission of Singapore (CCCS) · Version: 1.0.1 · Last updated:
Primary source: https://sso.agc.gov.sg/Act/CA2004?WholeDoc=1
SHA-256 integrity: bb58136dc3fb41bef3f018eddd39543cfd63ad8e6c84543123783ca412a3368c
Primary Citations — 7 traced to source
- Competition Act 2004 (Cap. 50B) (Singapore), s. 34 - Section 34 Prohibition: agreements, decisions, and concerted practices that prevent, restrict, or distort competition in Singapore are prohibited; hard-core cartel conduct treated as having the object of restricting competition
- Competition Act 2004 (Cap. 50B) (Singapore), s. 47 - Section 47 Prohibition: conduct amounting to abuse of a dominant position in any market in Singapore is prohibited, including predatory pricing, excessive pricing, and refusal to supply on non-objective grounds
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