The competition legislation revisions that would improve the framework for discouraging businesses from engaging in unfair business practises as well as promote the ease of doing business were approved by the parliament on Monday.
One of the main components of the Competition (Amendment) Bill is the reduction of CCI’s assessment time frame for combinations to 150 days from the date of filing the notice, the introduction of a settlement and commitments framework, and the imposition of penalties on infraction-committing entities based on their global turnover.
The legislature approves changes to the competition laws
