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Antitrust law in Singapore, also known as competition law, aims to promote fair competition in the marketplace and prevent anticompetitive practices. The main legislation governing antitrust in Singapore is the Competition Act.
You may need a lawyer for antitrust matters in Singapore if you are facing allegations of anti-competitive behavior, need to navigate complex competition laws, or require advice on mergers and acquisitions that may impact competition in the market.
Under the Competition Act, conduct such as price-fixing, market sharing, bid-rigging, and abuse of dominance are prohibited. The Competition and Consumer Commission of Singapore (CCCS) is the enforcement agency responsible for investigating and penalizing breaches of competition law.
Anti-competitive behavior includes agreements between competitors to fix prices, allocate markets, or restrict output, as well as abusing a dominant market position.
Yes, mergers or acquisitions that result in a substantial lessening of competition in Singapore must be notified to the CCCS for approval.
Penalties for breaching competition law in Singapore can include fines, directions to cease anti-competitive behavior, and disqualification from directorship.
You can lodge a complaint with the CCCS online through their website or by contacting them directly.
Yes, individuals can bring private actions for antitrust violations in Singapore to seek compensation for harm suffered as a result of anti-competitive behavior.
Yes, companies that cooperate with the CCCS in investigations into cartel conduct may be eligible for leniency or a reduction in penalties.
The length of time taken for a CCCS investigation can vary depending on the complexity of the case, but generally, investigations are conducted within a reasonable timeframe.
Yes, foreign companies operating in Singapore or engaging in conduct that affects competition in the Singaporean market can be subject to Singapore's competition laws.
The Competition Appeal Board hears appeals against decisions made by the CCCS regarding competition matters in Singapore.
To stay compliant with Singapore's competition laws, it is essential to understand the requirements of the Competition Act, seek legal advice when necessary, and ensure that business practices do not breach antitrust regulations.
For more information on antitrust in Singapore, you can visit the Competition and Consumer Commission of Singapore (CCCS) website or consult with legal professionals specializing in competition law.
If you require legal assistance with antitrust matters in Singapore, consider seeking advice from experienced competition law attorneys who can guide you through the complexities of competition law and help you navigate any potential antitrust issues your business may be facing.
