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Competition Commission Publishes Six Revised Guidelines
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- The Competition Commission of Singapore (CCS) has today published the following Competition Act guidelines, after public consultation:
Powers of Investigation;
Notification for Guidance and Decisions;
Transitional Arrangements; and
The Appropriate Amount of Penalty
- The sections 34 and 47 prohibitions dealing with anti-competitive agreements and abuse of dominance respectively will come into operation from 1 January 2006. There will be a transitional period from 1 January to 30 June 2006 for parties to agreements made before 31 July 2005 to review such agreements to bring them into compliance with the Act.
- A total of 25 submissions were received during the public consultation periods. There was general support for the draft guidelines. The CCS has carefully considered all contributions and suggestions and made appropriate changes to the draft guidelines and provided clarification to deal with a range of issues relating to, for example, right to legal access, whether notifications for prospective agreements or conduct will be accepted, whether anyone who had initiated a cartel is eligible for leniency and factors considered in calculating the financial penalty. The CCS thanks all respondents for their contributions and comments.
- The guidelines are at Appendices 2, 3, 4, 5, 6 and 7. The guidelines will be made available at the CCS website at www.ccs.gov.sg.