Singapore: Signed Competition Amendment Bill (No. 23 of 2007)

On 1 June 2007, the President of Singapore signed the Competition Amendment Bill (No. 23 of 2007). The Bill amends Chapter 50B of the Competition Act to extend its provisions to anticipated mergers, clarify definitions and criteria related to mergers, and enhance the powers of the Competition Commission of Singapore (CCS). The Amendment introduces definitions for “anticipated mergers” and applies to mergers in progress or contemplation, permitting voluntary notifications to the CCS for anticipated mergers. Further, the Amendment changes Section 33 to include references to anticipated mergers, allowing the CCS to exercise its powers over mergers involving parties or actions outside Singapore if they affect competition within Singapore. The Amendment also includes interim measures and directions, enabling the CCS to issue interim directions during the consideration of anticipated mergers and ongoing investigations to prevent prejudicial actions and protect the public interest. The CCS is also entitled to accept, vary, substitute, or release commitments regarding anticipated mergers and mergers.