SINGAPORE - The Competition Commission of Singapore (CCS) is seeking public feedback on proposed changes to its guidelines which outline how CCS will administer and enforce provisions under the Competition Act.
The guidelines aim to provide greater transparency and clarity to interested parties, and also to make it easier for businesses, consumers and stakeholders to understand the various competition concepts, CCS said in a press release on Friday (Sept 25).
CCS is a statutory board under the purview of the Ministry of Trade and Industry, which was established on Jan 1, 2005 to administer and enforce the Competition Act. The Act empowers CCS to investigate alleged anti-competitive activities, determine if such activities infringe the Act and impose suitable remedies, directions and financial penalties.
The press release said the proposed changes seek to:
1. Better reflect CCS's current practice of assessing anti-competitive agreements, mergers and acquisitions, and abuses of dominance.
2. Simplify and streamline the process of filing notifications to CCS for guidance or decision.
3. Make the process of applying for leniency clearer and more efficient.
4. Introduce a new Fast Track procedure for appropriate cases with a view to enable CCS to more effectively and efficiently enforce the Act.
The "streamlining and simplification" of the various notification forms will save businesses both time and resources in providing information to CCS during the notification process, added CCS.
The consultation documents can be downloaded from the CCS website at www.ccs.gov.sg under the section "Public Register and Consultation" and the Government Online Consultation Portal at www.reach.gov.sg.
The last day for submission is on Nov 6, 2015.