the competition act 2010
The Competition Act 2010 is an act to promote economic development and protect consumers’ interest. It is implemented by the Malaysia Competition Commission (MyCC), which was established under the Competition Commission Act 2010. This act was enacted by the Parliament of Malaysia in May 2010 and came into effect on 1 January 2012. The Competition Act 2010 is not meant to protect competitors. It is meant to ensure enterprises compete freely and fairly. Competition forces enterprises to be more efficient, innovative and responsive to consumer demand. The benefits of competition are lower prices, better products, wider choice for consumers, and greater efficiency of enterprises and the economy as a whole. Anti-competitive agreements and abuse of dominance can distort competition in the marketplace. The enterprises that affected have to cease operation as they will be priced out or otherwise driven out of the market.
Additionally, the consumers will lose as they will have less choice, prices will be high and products may not be of good quality. Enterprises which are consumers of goods and services in the course of their own business will also lose because the products they need to buy are denied to them or provided only on unfair terms. Therefore, the economy will not expand as new enterprises will be prevented from entering the market and existing enterprises will have no incentive to be innovative and efficient.
Activities that covered by The Competition Act 2010 are all commercial activities, both within and out of Malaysia that have negative or anti-competitive effects in any market in Malaysia. However, activities that involve an exercise of governmental authority, activities that carried out pursuant to the principle of solidarity, purchase of goods or services not intended for resale or resupply are activities not covered by the Commission Act 2010.
The Commission Act 2010 categorized anti-competitive agreements into horizontal agreements and vertical
Additionally, the consumers will lose as they will have less choice, prices will be high and products may not be of good quality. Enterprises which are consumers of goods and services in the course of their own business will also lose because the products they need to buy are denied to them or provided only on unfair terms. Therefore, the economy will not expand as new enterprises will be prevented from entering the market and existing enterprises will have no incentive to be innovative and efficient.
Activities that covered by The Competition Act 2010 are all commercial activities, both within and out of Malaysia that have negative or anti-competitive effects in any market in Malaysia. However, activities that involve an exercise of governmental authority, activities that carried out pursuant to the principle of solidarity, purchase of goods or services not intended for resale or resupply are activities not covered by the Commission Act 2010.
The Commission Act 2010 categorized anti-competitive agreements into horizontal agreements and vertical