Download Barbados' Competition Law: Overview of Fair Competition Act and more Slides Competition Law and Policy in PDF only on Docsity! Overview of Competition Law The Experience of Barbados Docsity.com Competition Law or Antitrust Law • Law that promotes and maintains market competition by regulating anti-competitive conduct. • Adam Smith: Monopoly - "...great enemy to good management Competition - medium for "...new divisions of labour, and new improvements of art” • Competition is not an end in itself but a process that advances goals of economic well being, ultimately for consumers Docsity.com Growth of Competition Law World wide (2010 - over 90 countries, 110 Authorities) 1900 - Influence of monopolies United States 1960 - Economic integration, free trade 1980 - Economic efficiency, Privatization 2008 - Transition from state control, Eastern Europe, also Latin America/Barbados Docsity.com Fair Trading Commission Barbados Requirement of Ch. 8 –Treaty of Chaguaramas Public Consultation Fair Trading Commission - Established 2001 1. Utilities Regulation Act 2001 - To Ensure Efficient Utility Services 2. Fair Competition Act 2003 - To Promote and Maintain Competition 3. Consumer Protection Act 2003 - To Protect Consumer Rights Docsity.com Fair Competition act (Scope of Coverage) Similar to Treaty of Chaguaramas / EC Article 81 and 82 •EC Anti-Competitive Agreements (Horizontal/Vertical) •Abuse of Dominance • Interlocking Directorates • Includes Merger Control Provisions •Provides for Authorisations • Includes all domestic markets • Includes Statutory Corporations Docsity.com Subsequent Approach Adopted (to Develop Competition Culture) Enforcement/Education Expanded Education Programme Internal Research studies Expand Range of Investigations Own Initiative Sector Investigations Specific Training Programmes Build Alliances - Business/Public Sector Develop International Linkages Docsity.com Industries Investigations Type of Investigations Industry No. Abuse of Dominance • Telecommunications • Construction • Oil Industry Anti Competitive Agreements • Professional Services • Shipping • Commercial Banking Merger • Telecommunications • Distribution Docsity.com Performance To Date Merger Investigations 1 Merger Guidance 5 Authorisation Investigations 0 Authorisation Guidance 1 INVESTIGATIONS /Guidance Total Abuse of Dominance Investigations Agreements Investigations Anti Competitive Conduct Guidance Docsity.com
