Price Fixing: Agreements that directly or indirectly fix purchase or selling price or any other trading conditions. It defines market as a broad network of buyers and sellers trading a range of goods and services via physical, telephonic and electronic platforms in the geographical area of Singapore. (b) Considers the decisions and notices issued by the CCS. New enforcement decisions have created a small but growing depository of local cases which will continue to shape the development and practice of competition law in Singapore. Officially known as The Competition Act 2004, the law has been effective since July 1, 2007 and promotes efficient markets at home. The majority of information is sourced from the website of market watchdog Competition Commission of Singapore; additional data has been obtained from the Singapore Law portal www.SingaporeLaw.sg. There was a problem loading your book clubs. stage, strongly advocating free-market policies to further its economic growth whilst safeguarding the interests of business consumers. Competition Law and Policy in Singapore: The First 10 Years Almost 10 years have passed since Singapore passed the Competition Act 2004, a landmark piece of legislation that was intended to complement the city-state's market liberalization reforms and achieve compliance with its free trade agreement obligations (Ong, 2006). The paper begins with a descriptive evaluation of competition policy in the ASEAN countries. US$ 3.90 (c) Includes an in-depth discussion of competition policy in Singapore. The Competition Law Practice Group, co-headed by Cavinder Bull, SC, and Lim Chong Kin, comprises an experienced and highly qualified team which handles competition and regulatory matters both generally under the Competition Act as well as in the carved-out sectors such as telecommunications, media, energy and post. This article draws heavily on two sources for its information given their depth of knowledge and credibility in the market. Bring your club to Amazon Book Clubs, start a new book club and invite your friends to join, or find a club thats right for you for free. It prohibits three types of anti-competitive conduct: Agreements, decisions, and practices which are anti-competitive. Scott Clements This section of the paper aims to provide an, overview of the three principal statutory prohibitions that comprise this trinity and, illustrate how they have been interpreted, applied and enforced b, The Section 34 prohibition against multi-party conduct has been the most, the infringement decisions taken under this statutory prohibition have involved, findings of anti-competitive conduct that have as their object the restriction of, including price-fixing between competitors, bid-rigging by tendering, Table 1: Section 34 Infringement Decisions, agreements between undertakings, decisions by associations of undertakings or concerted, All the parties that have thus far been prosecuted under the Section 34. them fined under SGD10,000 for their participation in anti-competitive activities. (b) Considers the decisions and notices issued by the CCS. Extremely humbled and thankful that I made the shortlist for Competition Future Leaders - Economists 2022. Chapter 1 Competition Policy and Law (e) Covers a thorough exploration of investigation and enforcement under the Competition Act. The insights shared by the various authors who have extensive experience with competition law and economics, in particular, Singapores competition law system, will provide readers with a more holistic understanding of the local developments. , ISBN-10 Also exempted from prohibitions of the Competition Act are mergers between SMEs, the entities listed under the Fourth Schedule of the Act and the mergers related to activities specified in the Third Schedule. For specific details of how to launch and manage your startup in Singapore, see our Launch in Singaporesection. Unable to add item to List. 50B) (the "Competition Act") is the primary statute which governs competition law in Singapore, and aims to protect consumers and businesses from anti-competitive practices in Singapore. CCS bans agreements between undertakings whose cumulative share exceeds 20% of the concerned industry market and who indulge in price-fixing, bid-rigging, market sharing or output limitations that adversely impact the market. Competition Law and Policy in Singapore: The First 10 Years. Collusion: Concerted practices wherein economic operators with common interests form a grouping to influence a competitors conduct or disclose their (the associations) conduct to a competitor. ERIA-DP-2015-53. API. The Heads further congratulated Cambodia on its achievement, becoming the last ASEAN Member State to enact its competition law and reinforcing its support towards the implementation of the law. Market studies undertaken by the CCS into the industrial property, retail petrol and airline sectors. There is fairly little written about competition law in Singapore to date. Regulation and Governance. In case of a merger between more than two undertakings, the outcome should be such that a real or hypothetical combination of three largest players in the market yields to a cumulative stake less than 70% of the total market. There was an error retrieving your Wish Lists. The Act prevents unfair trade practices and restricts the formation of cartels and monopoly activity in trade. Browse. Read the essay: " The Role of Competition Law and Policy in Supporting ASEAN e-Commerce ". Lim Chong Kin : The Act prevents unfair trade practices and restricts the formation of cartels and monopoly activity in trade. Competition Law and Policy in Singapore is unique as it not only explains the Competition Act (which other authors have done) but it goes further as it: (a) Deals with the guidelines issued by the Competition Commission of Singapore ("CCS"). Private. For general topics on how to plan and grow your startup, see our Startup Mentorsection. The Future of Competition Law and Policy in Singapore. : 290 p. Includes: index, bibliography. Competition law in Singapore 3 Singapore if there is a sufficient anti-competitive effect within Singapore. When assessing if a merger poses significant risk to the market competition, the regulator looks for changes in market structure and concentration brought about by the merger. This paper provides a bird's eye view of developments in field of competition law and policy in Singapore over the past 10 years, highlighting the progress made in the areas of enforcement, regulatory policy and advocacy. Category. and Law ", is an insightful account of the origins of the Singapore competition law regime, encompassing the policy considerations, the process of examination of other competition Since then, a trinity of legal prohibitions against, anti-competitive conduct has come into force under the stewardship of the, Competition Commission of Singapore (CCS), the statutory authority empowered to, administer the Act, which has had a central role in the development of Singapores, competition law and policy framework. However, this can be done only subsequent to CCS having ruled infringement and the exhaustion of the appeal process by the defendant. New enforcement decisions have created a small but growing depository of local cases which will continue to shape the development and practice of competition law in Singapore. The largest total fine was levied against 17 price-fixing bus companies in Express, ERIA: Economic Research Institute for ASEAN and East Asia. Cartels: Attending a cartel meeting irrespective of agreement on the outcome. : This is a summary of competition law - it is compiled from lesson notes, readings, and other research done. Similarly, mergers whose market shares and concentration ratios are well below threshold level may still raise concerns if there are indications of competition being harmed. (d) Contains a detailed discussion of market definition. Please try again. The Competition Act 2004 addresses private market players, broadly identified as undertakings that include self-employed professionals, corporate bodies, unincorporated body of persons or any other entity capable of carrying commercial or economic activities in any of the markets of the nation. Section 34: Prohibition acts against prevention, restriction and distortion of competition in Singapore market, Section 47: Prohibition deals with abuse of dominant position by major undertakings operating in Singapore and. Considers the most recent CCS decisions, including a number of landmark cases: Notification for Decision by Visa Worldwide Pte Ltd of Its MIF system as Formalised in the Visa Rules CCS 400/001/06; Abuse of a Dominant Position by SISTIC.com Pte Ltd CCS 600/008/07; Price Fixing in Bus Services from Singapore to Malaysia and Southern Thailand CCS 500/003/08; Infringement of the Section 34 Prohibition in Relation to the Price of Ferry Tickets between Singapore and Batam CCS 500/006/09; Application for Decision by Singapore Airlines Ltd and Scandinavian Airlines System CCS 400/001/12; and. Public utilities for postage, potable water, wastewater management, bus service, rail service, cargo terminal, bank automated clearing house, etc. Any business professional planning to operate in the Singapore market should be familiar with this topic. Try again. According to the CCS, a company is deemed to exert a decisive influence over another if it claims ownership of more than 50 % rights of the other undertaking. Conduct necessary to avoid conflict with Singapores international obligations. The Competition Act (Cap. Researching and Validating Your Startup Idea. These circumstance are: Section 54 Prohibition bars mergers between undertakings if such a merger can result in significant reduction of competition in Singapore irrespective of their occurrence at home or abroad. Yet, the act holds that threshold limits are merely indicative of potential competition risks and may not necessarily harm competition in the absence of countervailing factors. The CPLG meets annually and comprises officials from agencies in charge of competition law enforcement or competition policy in all member economies. Finally, genuine and demonstrated adherence to competition in the market enhances a business public profile and credibility in the market. Competition Law and Policy in Singapore Cavinder Bull, Lim Chong Kin. S$80 | Condition: Brand new | BRAND NEW Competition Law and Policy in Singapore (2nd Edition) Since the first edition was published, the Singapore competition law regime has developed considerably. It allows undertakings to merge so long as their individual market share is less than 40% and post- merger their combined share stays within a range of 20-40% in the market. To calculate the overall star rating and percentage breakdown by star, we dont use a simple average. Once CCS has established dominance of an economic player and their engagement in anti-competition behavior, it is for the accused entity to justify its actions and prove that it has not been abusing its position. Conduct necessary for compelling public policy reasons and is subject to an order by the government. Resources. Almost 10 years have passed since Singapore passed the Competition Act 2004, a landmark piece of legislation that was intended to complement the city-, market liberalization reforms and achieve compliance with its free trade agreement, obligations (Ong, 2006). Richard Whish, Terms & Conditions Privacy Policy Site Directory Useful Links Help Contact Us Careers, Competition Law and Policy in Singapore (2nd Edition). Save for Later. Corinne Chew Training on competition law itself and on the business' policies and procedures in relation to compliance should be conducted. An undertaking if found guilty can be imposed a financial penalty of up to 10% of its total business turnover for each year of infringement, up to a maximum period of three years. . Seller Inventory # ABE.0018164, More information about this seller (b) Considers the decisions and notices issued by the CCS. Mergers that aid competition or are neutral in terms of their impact on competition are exempted. Section 47 Prohibition does not prevent undertakings from having a dominant position or striving to achieve it by offering cheaper or more innovative products. , Language API. Dictionary. Top subscription boxes right to your door, 1996-2022, Amazon.com, Inc. or its affiliates, Learn more how customers reviews work on Amazon. This book provides a comprehensive guide to how competition laws in Singapore will be implemented, and how businesses, practitioners and students should navigate the regime. Restrictions do not apply on agreements between the parent company and its subsidiaries that collectively form one economic unit. Section 47 prohibitions do not apply in certain circumstances and to certain organizations as specified in the Third Schedule of the Act. Competition Law and Policy in Singapore (2nd Edition) BUY IT SGD 96.30 Since the first edition was published, the Singapore competition law regime has developed considerably. Access codes and supplements are not guaranteed with used items. This includes single economic units, comprising of company holdings and wholly-owned subsidiaries. However, these penalties can be enforced only after CCS has ruled that a violation has occured and the defendants right to appeal has been exhausted. Contents Restrictions also apply on economically independent firms who collude to adopt common policies to create a collective dominant position, so as to exploit the market. The training could be offered as part of the induction programme for new staff and on a regular basis thereafter to reinforce the compliance message and keep staff updated on any changes in business practices and the law. Exchange views and experiences on digital disruption and competition law and policy in East Asia; Review recent developments in competition law and policy in the context of the COVID-19 pandemic; Discuss measures for addressing competition issues in the digital economy and mitigating the pandemic while ensuring market competitiveness; Participants It also approves company consolidations where the economic efficiency gains surpass any harm to competition. Section 54: Prohibition works to prevent mergers and acquisitions that could result in sizable reduction of competition in any market in Singapore. Learn more. An undertaking if found guilty of abusing its dominant position can be imposed a financial penalty of up to 10 % of its total business turnover for each year of offense, up to the maximum period of three years. Who Should Attend Legal practitioners While the competition landscape has shifted to a digital environment, questions have been raised as to whether the traditional competition policy tools, formulated in the analogue era, may nevertheless remain relevant in addressing algorithmic anti-competitive practices. A dominant market participant can be penalized if found guilty of predatory behavior towards competitors, limiting production, markets or technical developments to the prejudice of consumers, applying dissimilar conditions to equivalent transactions with other trading parties, thereby placing them at competitive disadvantage, and making the conclusion of contracts subject to acceptance by the other parties of supplementary obligations which, by their nature or according to commercial usage have no connection with the subject of the contracts.. Chapter 6 Investigations, Enforcement and Rights of Private Action, The second edition of this book provides a comprehensive update and an in-depth discussion of how competition law has been interpreted and enforced in Singapore by the [CCS] as well as the Competition Appeal Board through examining the numerous decisions issued over the past six years since the publication of the first edition of the book. Do you Have the Traits of an Entrepreneur? The country recognizes the need to ensure that its markets operate in a fair and transparent manner. Competition Law and Policy in Singapore is unique as it not only explains the Competition Act (which other authors have done) but it goes further as it: (a) Deals with the guidelines issued by the Competition Commission of Singapore ("CCS"). CCS encourages pro-market mergers that create product alternatives for buyers by creating rivals to an incumbent vendor, and neutral mergers that have little impact on market. an analytical framework for identifying and evaluating potential infringements of competition law prohibitions; an awareness of the practical significance of competition law compliance to undertakings engaged in commercial transactions that prevent, restrict or distort competition in Singapore. Additional information about section 47 prohibitions is available in this document published by the CCS. (b) Considers the decisions and notices issued by the CCS. Affordable and personalized Singapore Corporate Services delivered by experts - Incorporation, Compliance, Accounting, Taxes, Immigration, and Advice. So are agreements made by the groupings of Small and Medium Enterprises (SMEs) in manufacturing and services sectors. Once again, my heartfelt thanks to clients and peers | 28 comments on LinkedIn Ibid, para [5] 168 Articles 2, 12 & 24, the Anti-Unfair Competition Law. Please try again. Agreements between entities that are not actual or potential rivals and where their aggregate market share is within 25% of the affected markets are exempt from prohibitions. Resources. From Masalai Press (Oakland, CA, U.S.A.) AbeBooks Seller Since December 28, 2011 Seller Rating. Singapore ensures competitive markets within its economic sphere through assertive use of its Competition Act. For any company or person aspiring to do business in Singapore, it is crucial to understand the Competition Law that governs all non-state businesses and economic activities in the nation. Competition Law and Policy in Singapore: The First 10 Years Almost 10 years have passed since Singapore passed the Competition Act 2004, a landmark piece of legislation that was intended to complement the city-state's market liberalization reforms and achieve compliance with its free trade agreement obligations (Ong, 2006). Ng Ee Kia Almost 10 years have passed since Singapore passed the Competition Act 2004, a landmark piece of legislation that was intended to complemen. Conduct that is required by legal requirements. The book is a collection of essays that reflect the antitrust thinking in digital markets in jurisdiction around the world. 0.0. Your recently viewed items and featured recommendations, Select the department you want to search in. Help others learn more about this product by uploading a video! Pricing. Full content visible, double tap to read brief content. 170 The minimum fine is set at RMB 5,000, Article 82, the E-commerce Law. Date. Condition: Very Good. > Commissioners for Oath & Notaries Public, Payment Regulatory Evaluation Program (PREP), Guide on the Development of Junior Civil Commercial Litigators in Oral Advocacy. New enforcement decisions have created a small but growing depository of local cases which will continue to shape the development and practice of competition law in Singapore. It also analyzed reviews to verify trustworthiness. Condition: Very Good Soft cover. The focus of this paper is on competition policy and law in the ASEAN countries. CCS may prevent a merger from occurring or may impose some structural or behavioral directives if it suspects a specific merger activity will harm the competition significantly. It can also impose a financial penalty of up to 10 % of the annual turnover of the guilty firm for each year of infringement, up to a maximum of three years. In addition, business rivals who have suffered losses due to anti-competition action of that company can sue it for damages. . Chapter 4 Abuse of a Dominant Position Chapter 5 Mergers Competition Law and Policy In Singapore, offers a complete overview of how Singapore's competition laws will be implemented, as well as how firms, practitioners, and students can navigate the system. This is immensely useful in our search for a more vibrant, efficient and competitive Singapore economy., Lam Chuan Leong You're listening to a sample of the Audible audio edition. It has also developed a competition policy and law for business in Asia . Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. 169 Articles 17-19 & 47, the Anti-monopoly Law. CCS also has powers to impose sanctions that include (a) financial penalties, (b) enforcing errant companies to make structural changes, (c) requiring termination of any agreement or conduct that CCS deems will harm competition. This specific ISBN edition is currently not available. 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