Philippine Competition Act

The Philippine Competition Act (Republic Act No. 10667) was signed into law by President Benigno S. Aquino III on July 21, 2015 and established the quasi-judicial Philippine Competition Commission to enforce the act.[1][2][3][1][4] The act is intended to ensure efficient and fair market competition among businesses engaged in trade, industry, and all commercial economic activities.[1] It prohibits anti-competitive agreements, abuses of dominant positions, and mergers and acquisitions that limit, prevent, and restrict competition.[5]

History

A comprehensive competition law was first proposed in the late 1980s during the administration of President Cory Aquino.[5]

The Philippines was the only country in ASEAN without a competition law and the integration of ASEAN into a single market was an impetus to pass the act.[5]

Philippine Competition Commission

The Philippine Competition Commission is an independent, quasi-judicial body created to enforce the act. It is under the Office of the President of the Philippines.[6] Five commissioners were appointed to the Philippine Competition Commission and sworn in on January 27, 2015:[7]

Arsenio Balisacan resigned from his post as Philippine Socioeconomic Planning Secretary and Director General of the National Economic and Development Authority to lead the Philippine Competition Commission.[1]

References

  1. 1 2 3 4 "NEDA statement on Balisacan move to Competition Commission". BusinessWorld. BusinessWorld Publishing Corporation. 25 January 2016. Retrieved 28 January 2016.
  2. ↑ Viray, Patricia Lourdes (25 January 2016). "NEDA chief to head new Philippine Competition Commission". The Philippine Star. Retrieved 28 January 2016.
  3. ↑ Venzon, Cliff (26 January 2016). "Aquino appoints new antitrust enforcer". Nikkei Asian Review. Nikkei Inc. Retrieved 28 January 2016.
  4. ↑ "Republic Act No. 10667 - Philippine Competition Act". Official Gazette of the Republic of the Philippines. 21 July 2015. Retrieved 28 January 2016.
  5. 1 2 3 Schnabel, Chris (July 13, 2015). "What consumers need to know about the PH Competition Act". Rappler. Retrieved 14 June 2016.
  6. ↑ Bacani, Louis (July 21, 2015). "PNoy OKs landmark Philippine Competition Act, Cabotage Law amendments". philstar.com. Retrieved 14 June 2016.
  7. ↑ Sabillo, Kristine Angeli (27 January 2016). "Balisacan takes oath as competition commission head". Philippine Daily Inquirer. Retrieved 28 January 2016.

External links


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