Competition Authority gains teeth

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The Competition Authority has acquired teeth following recent gazetting of regulations enabling the parastatal to commence investigation and penalisation of anti-competitive practices in industry, BusinessWeek has learnt.

Gazetted on October 14, the regulations complete the full powers and mandate of the Authority under its enabling Act, a development long awaited by local business players who have complained of entrenched anti-competitive trends in industry.

Within the Authority's arsenal include the right to enter and search premises in pursuit of suspected price fixing, division of markets by allocating consumers and bid rigging.

Editor's Comment
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