1 April, 2012
An Amendment Draft to The Egyptian Competition Law
Keywords: Retail & Consumer Goods, Commercial
Draft Amendment of Egyptian competition law. An amendment draft to the Egyptian competition law is on the agenda of the People’s Assembly.
The draft proposed the following amendments:
- Market dominance will be deemed to exist automatically if a person has 50% or more of the market share.
- A prior approval from the Regulator must be granted in relation to agreements among competitors on market prices.
- Members of the board of directors of the regulatory body (“the Regulator”) will be chosen by both the government and the People’s Assembly.
- Fines for violation will increase from a minimum of EGP 100,000 up to EGP 300,000,000 to a minimum of EGP 500,000 to EGP 500,000,000 or 20% of the value of sold goods whichever is higher.
An exemption from sanctions to the violating person who first reports the violation and presents evidence to the Regulator is also introduced.
The draft proposed the following amendments:
- Market dominance will be deemed to exist automatically if a person has 50% or more of the market share.
- A prior approval from the Regulator must be granted in relation to agreements among competitors on market prices.
- Members of the board of directors of the regulatory body (“the Regulator”) will be chosen by both the government and the People’s Assembly.
- Fines for violation will increase from a minimum of EGP 100,000 up to EGP 300,000,000 to a minimum of EGP 500,000 to EGP 500,000,000 or 20% of the value of sold goods whichever is higher.
An exemption from sanctions to the violating person who first reports the violation and presents evidence to the Regulator is also introduced.
An Amendment Draft to The Egyptian Competition Law
1 April, 2012
Keywords: Retail & Consumer Goods, Commercial
Draft Amendment of Egyptian competition law. An amendment draft to the Egyptian competition law is on the agenda of the People’s Assembly.
The draft proposed the following amendments:
- Market dominance will be deemed to exist automatically if a person has 50% or more of the market share.
- A prior approval from the Regulator must be granted in relation to agreements among competitors on market prices.
- Members of the board of directors of the regulatory body (“the Regulator”) will be chosen by both the government and the People’s Assembly.
- Fines for violation will increase from a minimum of EGP 100,000 up to EGP 300,000,000 to a minimum of EGP 500,000 to EGP 500,000,000 or 20% of the value of sold goods whichever is higher.
An exemption from sanctions to the violating person who first reports the violation and presents evidence to the Regulator is also introduced.
The draft proposed the following amendments:
- Market dominance will be deemed to exist automatically if a person has 50% or more of the market share.
- A prior approval from the Regulator must be granted in relation to agreements among competitors on market prices.
- Members of the board of directors of the regulatory body (“the Regulator”) will be chosen by both the government and the People’s Assembly.
- Fines for violation will increase from a minimum of EGP 100,000 up to EGP 300,000,000 to a minimum of EGP 500,000 to EGP 500,000,000 or 20% of the value of sold goods whichever is higher.
An exemption from sanctions to the violating person who first reports the violation and presents evidence to the Regulator is also introduced.
