Ministry of Trade and Industry Launches Competition Commission
for the full article)
1. A new statutory board, the Competition Commission of Singapore (CCS),
will be set up on 1 January 2005, under the Ministry of Trade and Industry, to
administer and enforce the Competition Act 2004.
2. The functions and duties of the CCS shall be to:
- remove or limit practices that have adverse effect on competition in
Singapore;
- maintain and enhance efficient market conduct and promote
competition in markets in Singapore;
- act internationally as the national body representative of Singapore in
respect of competition matters; and
- advise the Government or other public authority on national needs and
policies in respect of competition matters generally.
|
The CCS will have powers to investigate and adjudicate anti-competitive
activities. It will also have the powers to impose sanctions.
3. The prohibition provisions in the Competition Act 2004 will come into effect
in phases, starting from 1 Jan 2006. This is to allow time for the CCS to build up
its resources and capabilities to perform its enforcement duties when the
prohibition provisions come into effect.
4. The board members of the CCS are in the enclosed list. Mr Lam Chuan
Leong, who is the Second Permanent Secretary (Special Projects), Ministry of
Finance, will be the Chairman of the CCS. Mr Ng Wai Choong, Deputy Secretary
(Industry), Ministry of Trade and Industry, will concurrently hold the position of
Chief Executive Officer of the CCS.
5. For more information, please visit CCS' website at www.ccs.gov.sg.