Philippine Competition Act

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The Philippine Competition Act, officially designated as Republic Act No. 10667, is a Philippine law that was signed into law by President Benigno Aquino III on July 21, 2015 and established the quasi-judicial Philippine Competition Commission to enforce the act.[1][2][3][4] The act is intended to ensure efficient and fair market competition among businesses engaged in trade, industry, and all commercial economic activities.[3] It prohibits anti-competitive agreements, abuses of dominant positions, and mergers and acquisitions that limit, prevent, and restrict competition.[5]

History[]

A comprehensive competition law was first proposed in the late 1980s during the administration of President Cory Aquino.[5]

The Philippines was the only country in ASEAN without a competition law and the integration of ASEAN into a single market was an impetus to pass the act.[5]

Philippine Competition Commission[]

The Philippine Competition Commission is an independent, quasi-judicial body created to enforce the act. It is attached to the Office of the President of the Philippines.[6] Five commissioners were appointed to the Philippine Competition Commission and sworn in on January 27, 2015:[7]

  • Arsenio Balisacan (Chairperson)
  • Stella Alabastro-Quimbo
  • Johannes Bernabe
  • Elcid Butuyan
  • Menardo Guevarra

Arsenio Balisacan resigned from his post as Philippine Socioeconomic Planning Secretary and Director General of the National Economic and Development Authority to lead the Philippine Competition Commission.[3] Guevarra left the Commission after he was appointed Senior Deputy Executive Secretary. He was replaced by lawyer Amabelle Asuncion.

References[]

  1. ^ Viray, Patricia Lourdes (25 January 2016). "NEDA chief to head new Philippine Competition Commission". The Philippine Star. Retrieved 28 January 2016.
  2. ^ Venzon, Cliff (26 January 2016). "Aquino appoints new antitrust enforcer". Nikkei Asian Review. Nikkei Inc. Retrieved 28 January 2016.
  3. ^ a b c "NEDA statement on Balisacan move to Competition Commission". BusinessWorld. BusinessWorld Publishing Corporation. 25 January 2016. Retrieved 28 January 2016.
  4. ^ "Republic Act No. 10667 - Philippine Competition Act". Official Gazette of the Republic of the Philippines. 21 July 2015. Retrieved 28 January 2016.
  5. ^ a b c Schnabel, Chris (July 13, 2015). "What consumers need to know about the PH Competition Act". Rappler. Retrieved 14 June 2016.
  6. ^ Bacani, Louis (July 21, 2015). "PNoy OKs landmark Philippine Competition Act, Cabotage Law amendments". The Philippine Star. Retrieved 14 June 2016.
  7. ^ Sabillo, Kristine Angeli (27 January 2016). "Balisacan takes oath as competition commission head". Philippine Daily Inquirer. Retrieved 28 January 2016.

External links[]


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