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Philippines: Antimonopoly bill advances through Congress

By  |  October 28, 2014

Proposed legislation that aims to ban monopolies and anticompetitive conduct advanced in the Philippine Congress Tuesday as the House of Representatives’ Appropriations Committee approved of the bill.

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    Reports say the Philippine Competition Act would overhaul the nation’s antitrust regulation by establishing the Philippine Competition Commission with powers to sanction and penalize anticompetitive behavior. Its chairperson would be appointed by the President with a term duration of six years; four other commissioners will act below the chairperson.

    Despite the approval, reports say the bill will still need clearance from two other congressional committees and will face various debates by lawmakers.

    The legislation was co-authored by Representative Anthony G. Del Rosario.

    Lawmakers have worked to establish a comprehensive competition law as the nation strengthens its economic and political ties with the Association of Southeast Asian Nations, the regional partnership that is also looking to introduce an overarching competition policy to its members.

    Full content: Business World Online

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