According to a press release, the United Arab Emirates has adopted new policies regarding competition law to take effect near the end of February, 2013. The press release states that current competition law was put forth that “fell short” of securing sufficient competition within the UAE. New regulations were legally passed last October. According to the release, the new Competition Law will have a “significant” impact on UAE companies. Released by the Middle East ad Islamic Finance Practice Group, the outlines for the new legislation clarify exemptions policies for companies accused of dominance abuse, new protocols for merger controls, specific penalties and fines for various violations, and other clarifications.
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