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Public consultation launched on proposed amendments to Competition Act

SINGAPORE — The Competition Commission of Singapore (CCS) is seeking public feedback on proposed changes to the Competition Act to level the playing field among businesses as well as to promote innovation and productivity.

The Competition Commission of Singapore is seeking public feedback on proposed changes to the Competition Act. BLOOMBERG file photo

The Competition Commission of Singapore is seeking public feedback on proposed changes to the Competition Act. BLOOMBERG file photo

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SINGAPORE — The Competition Commission of Singapore (CCS) is seeking public feedback on proposed changes to the Competition Act to level the playing field among businesses as well as to promote innovation and productivity.

Members of the public can give their feedback on the proposed changes from now till January 11.

“The key aims of the amendments are to provide CCS with appropriate enforcement tools in line with international best practices and to streamline existing processes,” the statutory board said in a press statement on Thursday (Dec 21).

The CCS said that the changes have been introduced after taking into account its practical experience in enforcing the Act.

“The Act strives to level the playing field amongst businesses, promote innovation and productivity, which in turn benefits the Singapore economy, businesses and consumers,” it added.

The Competition Act was enacted in 2004 to provide a generic law that protects consumers and businesses from anti-competitive practices of private entities.

A previous round of changes to the Act was proposed in September 2015. It covered amendments to make it easier for businesses, consumers and stakeholders to understand the various competition concepts.

This new set of proposed changes seeks to “codify the process of providing confidential advice to businesses for anticipated mergers” as well as to “enable businesses under investigation to offer legally binding commitments to address any anti-competitive conduct”, said the press statement.

The amendments would also allow for a more efficient and effective evidence-gathering and investigation process, the CCS said.

“The streamlining and simplification of the interview process during an inspection will allow CCS to conduct its inspections in a more efficient manner, minimising any potential disruption to businesses,” it added.

Members of the public who are interested to provide feedback can download the consultation documents from the CCS website at www.ccs.gov.sg under the section “Public Register and Consultation” and the Government Online Consultation Portal at www.reach.gov.sg.

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