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Antitrust laws in Central, Hong Kong, also referred to as competition laws, aim to promote fair business competition. They enforce regulations against anti-competitive behavior, price-fixing, monopolistic conduct, and other practices that harm fair market competition. The Competition Ordinance (CO) is the primary legislative framework that governs antitrust issues in Hong Kong. It established the Competition Commission, responsible for enforcing the CO, and the Competition Tribunal, which adjudicates cases of noncompliance.
Antitrust law can be complex and may require a legal professional's expertise to navigate. You may require an antitrust lawyer if you're facing an investigation from the Competition Commission or if you're involved in a dispute related to anti-competitive practices. Businesses planning mergers or acquisitions also typically seek legal counsel to ensure compliance with competition laws. A lawyer can also provide valuable advice on business policies and activities to avoid antitrust issues.
The primary legislation governing antitrust issues in Central, Hong Kong is the Competition Ordinance (CO). The CO prohibits anti-competitive conduct, particularly restrictive agreements, abuse of market power, and anti-competitive mergers. It also restricts bid-rigging and conducts detrimental to the healthy competition in the market. Moreover, the CO established the Competition Commission and the Competition Tribunal, governing their functions, powers, and procedures.
Anti-competitive behavior, as outlined in the Competition Ordinance, includes restrictive agreements, abuse of a substantial degree of market power, and mergers that seriously harm competition in Hong Kong.
Violations of the Competition Ordinance can result in significant financial penalties, dictated by the Competition Tribunal. The highest penalty can be 10 percent of the turnover of the undertaking obtained in Hong Kong for the duration of the infringement.
Yes, private entities can bring follow-on actions in the Competition Tribunal if they have been directly affected by a violation of competition laws.
Depending on the proceedings' specifics and the decision of the Competition Tribunal, certain aspects of the process may be kept confidential. However, Tribunal judgments are typically public.
If you receive a formal investigation notice, it's crucial to seek immediate legal help. Lawyers specialized in antitrust regulations can comprehensively assess the situation and help craft a strategic response.
The Competition Commission's official website provides a wealth of information on the Competition Ordinance, guidelines, and Commission decisions. The Department of Justice's website also offers useful insights on competition laws and their enforcement.
If you're dealing with an antitrust legal issue, it's important to select a legal professional with expertise in this specific area. Once you've narrowed down your choices, schedule consultations to discuss your situation in detail. Be sure to bring all relevant documents to the meeting. Together, you can determine the best course of action to navigate your antitrust matter.
