Singapore: Adopted Competition Amendment Bill (No. 15 of 2018)

On 19 March 2018, the Competition Amendment Bill (No. 15 of 2018) was adopted by the Parliament of Singapore. The Bill proposes amendments to Chapter 50B of the Competition Act 2004 to enhance the regulatory framework and the powers of the Competition Commission of Singapore. The amendments allow the Commission to determine if prohibitions against anti-competitive agreements and abuse of dominant positions have been infringed and, if not, whether this is due to exclusion, exemption, or acceptance of a commitment. A new provision allows parties to an anticipated merger to seek confidential and non-binding advice from the CCCS on whether the merger is likely to infringe competition laws, provided certain conditions are met. The amendments further enable the CCCS to accept commitments from parties to address potential competition concerns, thus avoiding the need for formal investigations.