As a direct effect of the UNCTAD Voluntary Peer Review of Competition Law and Policy Tripartite – which included Tanzania, Zambia and Zimbabwe – Tanzania’s antitrust law is looking at an overhaul for the better. Revisions to the Fair Competition Law would include a provision to issue criminal sanctions to parties involved in cartel activities, say sources. The changes to the legislation would also reach through into the Fair Competition Commission and Fair Competition Tribunal to fill gaps in “institutional weaknesses,” with goals of strengthening the effectiveness of the antitrust bodies. The revisions are a result of UNCTAD’s groundbreaking efforts for nations to peer-review competition legislation.
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