Does Singapore have antitrust laws?

Overview of competition laws The Competition Act prohibits the following three main activities: agreements which have as their object or effect the prevention, restriction or distortion of competition in Singapore; conduct which amounts to the abuse of a dominant position in any market in Singapore; and.

What is the Competition Act Singapore?

An Act to make provision about competition and the abuse of a dominant position in the market; and to establish the Competition and Consumer Commission of Singapore, to provide for its functions and powers and for matters connected therewith. 1. This Act is the Competition Act 2004.

What are anti-competitive agreements?

Anti-competitive agreements are agreements among competitors to prevent, restrict or distort competition. Section 34 of the Competition Act prohibits agreements, decisions and practices that are anti-competitive. A particularly serious type of anti-competitive agreement would be those made by cartels.

Why are anti-competitive practices prohibited?

The market distortion resulting from anti-competitive practices can result in higher prices, poorer service and a stifling of innovation, among other effects. As such, anti-competitive practices are illegal in most countries and are prohibited under antitrust law in the United States.

Are cartels illegal in Singapore?

No criminal sanctions may be imposed on individuals in respect of cartel conduct or competition law violations in Singapore.

What are some examples of antitrust laws?

Federal antitrust laws examples include the following:

  • Sherman Antitrust Act.
  • Clayton Act.
  • Federal Trade Commission Act.
  • Robinson-Patman Act.

What are the three main prohibitions under the Competition Act?

The Competition Act primarily seeks to regulate three types of conduct: anti-competitive agreements, abuse of a dominant position and combinations (i.e., mergers, acquisitions and amalgamations).

What are anti competition practices trying to prevent?

Anti-competitive practices are business or government practices that prevent or reduce competition in a market. Antitrust laws differ among state and federal laws to ensure businesses do not engage in competitive practices that harm other, usually smaller, businesses or consumers.

What is competition agreement law?

Agreement refers to an explicit or implicit arrangement between firms normally in competition with each other to their mutual benefit. Agreements to restrict competition may cover such matters as prices, production, markets and customers.

Is it illegal to refuse to deal?

A refusal to deal violates the Sherman Antitrust Act and other antitrust laws, and is illegal in the United States.