The Competition Law 2010 is the law to prohibit the unhealthy competition in the market as it enables exclusive discretionary powers. The powers may include searching the premises of suspected company; seize the documents/devices of the company to investigate the illegal conduct under the law. It prevents the abuse of dominance, unhealthy competitive practices, anti-competitive agreements and deceptive mergers.
The Competition law is basically introduced and implemented to promote the healthy market competition in the market economy and to prohibit the anti-competition elements including Abuse of Dominant position, deceptive marketing practices, anti-competitive agreements and deals as well as to restrict the misleading mergers to avoid lessening the competition.
Importance & Features of Competition Law:
It is a law which empowers the competition commission of Pakistan to enable the free and healthy competition all around in commercial and economic activities to improve economy and to shield consumers from anti-competition activities. The Law basically eliminates the following which includes;
Abuse of dominant position
Approval of mergers
Laws & Rules:
MONOPOLIES AND RESTRICTIVE TRADE PRACTICES ORDINANCES, 1970
THE COMPETITION ACT, 2010
THE COMPETITION APPELLATE TRIBUNAL RULES, 2015
ACT’S SUPPLEMENTED RULES AND REGULATIONS
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