Akta Persaingan 2010 (Akta 712) Competition Act 2010 (Act 712) & Akta Suruhanjaya Persaingan 2010 (Akta 713) Competition Act 2010 (Act 713)

Akta Persaingan 2010 (Akta 712) 

Akta 712 - Suatu Akta untuk menggalakkan pembangunan ekonomi dengan menggalakkan dan melindungi proses persaingan, dan dengan demikian itu melindungi kepentingan pengguna dan untuk mengadakan peruntukan bagi perkara-perkara yang berkaitan dengannya.

Detailed Contents Of Akta Persaingan 2010 (Akta 712) Competition Act 2010 (Act 712) :

The Competition Act 2010 (Act 712) and the Competition Commission Act 2010 (Act 713) are two pieces of legislation that were introduced in Malaysia to promote competition and prevent anti-competitive practices in the marketplace.

Competition Act 2010 (Act 712): The Competition Act 2010 (Act 712) is the main competition law in Malaysia. The purpose of this Act is to promote competition in the market for the benefit of consumers and to provide for the prohibition of anti-competitive agreements and abuses of dominant positions. The Act applies to all commercial activities in Malaysia and is enforced by the Malaysia Competition Commission (MyCC).

The key provisions of the Competition Act 2010 include:

1. Prohibition of anti-competitive agreements: The Act prohibits agreements between competitors that have the purpose or effect of significantly preventing, restricting, or distorting competition in the market.

2. Prohibition of abuse of dominant positions: The Act prohibits dominant firms from abusing their market power to prevent, restrict, or distort competition in the market.

3. Prohibition of mergers that substantially lessen competition: The Act prohibits mergers and acquisitions that substantially lessen competition in the market.

4. Power of investigation and enforcement: The MyCC has the power to investigate suspected anti-competitive practices and take enforcement action against those found to be in violation of the Act.

5. Remedies: The Act provides for a range of remedies that can be applied by the MyCC to address anti-competitive practices, including fines, injunctions, and divestiture orders.

Competition Commission Act 2010 (Act 713): The Competition Commission Act 2010 (Act 713) establishes the Malaysia Competition Commission (MyCC) as an independent regulatory body responsible for enforcing the Competition Act 2010 (Act 712). The MyCC is responsible for promoting competition and preventing anti-competitive practices in the market.

The key provisions of the Competition Commission Act 2010 include:

1. Establishment of the MyCC: The Act establishes the Malaysia Competition Commission (MyCC) as an independent regulatory body responsible for enforcing the Competition Act 2010.

2. Powers and functions of the MyCC: The MyCC has the power to investigate suspected anti-competitive practices, conduct market studies, and make recommendations to the government on competition-related issues.

3. Composition of the MyCC: The MyCC is composed of a chairperson and six other members who are appointed by the Minister of Domestic Trade and Consumer Affairs.

4. Appeals: The Act provides for appeals against decisions made by the MyCC to the Competition Appeal Tribunal, which is an independent body established under the Act.

In summary, the Competition Act 2010 (Act 712) and the Competition Commission Act 2010 (Act 713) are designed to promote competition and prevent anti-competitive practices in the Malaysian marketplace. The Competition Act sets out the substantive provisions of the law, while the Competition Commission Act establishes the regulatory body responsible for enforcing the law. Together, these Acts play an important role in protecting consumers and promoting a competitive market environment in Malaysia.