Singapore Commission Proposes Amendments To Competition Act 

The Bill: The Parliament passed a bill giving the Competition Commission of (or CCS) regulatory powers over . The expanded body is now (effective 1 April 2018) called the Competition and Consumer Commission of (or ), and it will adopt its consumer protection functions in the second half of 2018.

The Proposed Amendments: The CCCS proposes amending the Competition Act to empower the CCCS to conduct general interviews during inspections; accept binding and enforceable commitments for cases involving agreements and abuse of dominance; and codify the process for approaching the CCCS for confidential advice in relation to a potentially merger.

The Total Effect: The CCCS consolidation and proposed amendments will be beneficial for Singapore’s regulatory environment. However, the legal consequences are significant and parties that believe they may be affected by the amendments should seek legal advice.

Source: Sushma Jobanputra and Prudence Smith – Jones Day | mondaq