Clifford Chance
Hong Kong enacts competition law
15 June 2012
On 14 June 2012 Hong Kong's Legislative Council voted to enact Hong Kong's first cross-sector competition law, the Competition Ordinance (CO). The prohibitions in the law are expected to come into effect when the new Competition Commission and Tribunal have been established, which the Administration estimates may take approximately 12 months.
The law contains broadly framed prohibitions against anti-competitive agreements and abuse of market power. It does not introduce a general merger control regime at this stage. However, it does introduce a revised merger regime for telecoms-related mergers to replace the existing regime. The CO provides the regulatory authorities with
extensive powers to investigate suspected breaches with potentially significant penalties and other relief powers.
The CO provides the regulatory authorities with extensive powers to investigate suspected breaches with potentially significant penalties and other relief powers.
