Identifier
Created
Classification
Origin
06SINGAPORE3428
2006-10-26 08:49:00
UNCLASSIFIED
Embassy Singapore
Cable title:
SINGAPORE SEEKS COMMENTS ON COMPETITION LAW AMENDMENTS
how-toVZCZCXYZ0000 RR RUEHWEB DE RUEHGP #3428 2990849 ZNR UUUUU ZZH R 260849Z OCT 06 FM AMEMBASSY SINGAPORE TO RUEHC/SECSTATE WASHDC 1680 INFO RUCPDOC/USDOC WASHDC RUEAWJA/DEPT OF JUSTICE WASHDC
UNCLAS SINGAPORE 003428
SIPDIS
STATE PASS DOJ FOR SCHEMTOB
USTR FOR AUSTR BWEISEL AND JJENSEN
COMMERCE FOR JBAKER
SIPDIS
E.O. 12958: N/A
TAGS: ECON ETRD EINV SN
SUBJECT: SINGAPORE SEEKS COMMENTS ON COMPETITION LAW AMENDMENTS
UNCLAS SINGAPORE 003428
SIPDIS
STATE PASS DOJ FOR SCHEMTOB
USTR FOR AUSTR BWEISEL AND JJENSEN
COMMERCE FOR JBAKER
SIPDIS
E.O. 12958: N/A
TAGS: ECON ETRD EINV SN
SUBJECT: SINGAPORE SEEKS COMMENTS ON COMPETITION LAW AMENDMENTS
1. The Competition Commission of Singapore (CCS) is seeking
comments on proposed amendments to Section 54 of the Competition
Act and newly drafted guidelines for implementation.
2. Section 54 addresses mergers and acquisitions and includes
amendments that:
i) allow for mergers that have lessened or are expected to
substantially lessen competition, but which could have other,
offsetting benefits.
ii) allow for voluntary notification of anticipated mergers.
Currently, only completed mergers are covered by the Competition
Act.
iii) allow the CCS to accept, amend, substitute, enforce or
release "commitments" (binding agreements) it makes with parties
involved in specific mergers or acquisitions. Transactions can
then proceed in accordance with the obligations undertaken by
the parties involved to address identified concerns.
iv) incorporate validity periods for CCS decisions, taking into
account changing market conditions.
3. Section 54 and its accompanying guidelines are scheduled to
come into effect on July 1, 2007. They mark the third and final
implementation phase of the Competition Act, which Singapore
enacted in 2004 as part of its obligations under our bilateral
Free Trade Agreement. Phase I involved the establishment of the
Competition Commission of Singapore in January 2005. Phase II
covered the implementation of Section 34 (anti-competitive
agreements) and Section 47 (abuse of market dominance)
guidelines that came into effect in 2006.
4. The closing date for submission of comments is November 10,
2006. The consultation paper and accompanying documents are
available at:
Comments may be submitted as follows:
Email: ccs_consultation@ccs.gov.sg
Fax: 65-6224-6929
Mail:
Director (Economics)
Competition Commission of Singapore
5 Maxwell Road
#13-01, Tower Block
MND Complex
Singapore 069110
HERBOLD
SIPDIS
STATE PASS DOJ FOR SCHEMTOB
USTR FOR AUSTR BWEISEL AND JJENSEN
COMMERCE FOR JBAKER
SIPDIS
E.O. 12958: N/A
TAGS: ECON ETRD EINV SN
SUBJECT: SINGAPORE SEEKS COMMENTS ON COMPETITION LAW AMENDMENTS
1. The Competition Commission of Singapore (CCS) is seeking
comments on proposed amendments to Section 54 of the Competition
Act and newly drafted guidelines for implementation.
2. Section 54 addresses mergers and acquisitions and includes
amendments that:
i) allow for mergers that have lessened or are expected to
substantially lessen competition, but which could have other,
offsetting benefits.
ii) allow for voluntary notification of anticipated mergers.
Currently, only completed mergers are covered by the Competition
Act.
iii) allow the CCS to accept, amend, substitute, enforce or
release "commitments" (binding agreements) it makes with parties
involved in specific mergers or acquisitions. Transactions can
then proceed in accordance with the obligations undertaken by
the parties involved to address identified concerns.
iv) incorporate validity periods for CCS decisions, taking into
account changing market conditions.
3. Section 54 and its accompanying guidelines are scheduled to
come into effect on July 1, 2007. They mark the third and final
implementation phase of the Competition Act, which Singapore
enacted in 2004 as part of its obligations under our bilateral
Free Trade Agreement. Phase I involved the establishment of the
Competition Commission of Singapore in January 2005. Phase II
covered the implementation of Section 34 (anti-competitive
agreements) and Section 47 (abuse of market dominance)
guidelines that came into effect in 2006.
4. The closing date for submission of comments is November 10,
2006. The consultation paper and accompanying documents are
available at:
Comments may be submitted as follows:
Email: ccs_consultation@ccs.gov.sg
Fax: 65-6224-6929
Mail:
Director (Economics)
Competition Commission of Singapore
5 Maxwell Road
#13-01, Tower Block
MND Complex
Singapore 069110
HERBOLD