Philippine Competition Act




The Philippine Competition Act (Republic Act No. 10667) was signed into law by President Benigno S. Aquino III on July 21, 2015 and established the quasi-judicial Philippine Competition Commission to enforce the act.[1][2][3][1][4] The act is intended to ensure efficient and fair market competition among businesses engaged in trade, industry, and all commercial economic activities.[1] It prohibits anti-competitive agreements, abuses of dominant positions, and mergers and acquisitions that limit, prevent, and restrict competition.[5]




Contents






  • 1 History


  • 2 Philippine Competition Commission


  • 3 References


  • 4 External links





History


A comprehensive competition law was first proposed in the late 1980s during the administration of President Cory Aquino.[5]


The Philippines was the only country in ASEAN without a competition law and the integration of ASEAN into a single market was an impetus to pass the act.[5]



Philippine Competition Commission


The Philippine Competition Commission is an independent, quasi-judicial body created to enforce the act. It is attached to the Office of the President of the Philippines.[6] Five commissioners were appointed to the Philippine Competition Commission and sworn in on January 27, 2015:[7]




  • Arsenio Balisacan (Chairperson)

  • Stella Alabastro-Quimbo

  • Johannes Bernabe

  • Elcid Butuyan

  • Menardo Guevarra


Arsenio Balisacan resigned from his post as Philippine Socioeconomic Planning Secretary and Director General of the National Economic and Development Authority to lead the Philippine Competition Commission.[1] Guevarra left the Commission after he was appointed Senior Deputy Executive Secretary. He was replaced by lawyer Amabelle Asuncion.



References





  1. ^ abcd "NEDA statement on Balisacan move to Competition Commission". BusinessWorld. BusinessWorld Publishing Corporation. 25 January 2016. Retrieved 28 January 2016..mw-parser-output cite.citation{font-style:inherit}.mw-parser-output q{quotes:"""""""'""'"}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:inherit;padding:inherit}.mw-parser-output .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-limited a,.mw-parser-output .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}


  2. ^ Viray, Patricia Lourdes (25 January 2016). "NEDA chief to head new Philippine Competition Commission". The Philippine Star. Retrieved 28 January 2016.


  3. ^ Venzon, Cliff (26 January 2016). "Aquino appoints new antitrust enforcer". Nikkei Asian Review. Nikkei Inc. Retrieved 28 January 2016.


  4. ^ "Republic Act No. 10667 - Philippine Competition Act". Official Gazette of the Republic of the Philippines. 21 July 2015. Retrieved 28 January 2016.


  5. ^ abc Schnabel, Chris (July 13, 2015). "What consumers need to know about the PH Competition Act". Rappler. Retrieved 14 June 2016.


  6. ^ Bacani, Louis (July 21, 2015). "PNoy OKs landmark Philippine Competition Act, Cabotage Law amendments". philstar.com. Retrieved 14 June 2016.


  7. ^ Sabillo, Kristine Angeli (27 January 2016). "Balisacan takes oath as competition commission head". Philippine Daily Inquirer. Retrieved 28 January 2016.




External links



  • Philippine Competition Act on the Official Gazette of the Philippine Government









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