Competition Law in South Africa
What is the Purpose for Competition Law in South Africa?
The purpose of the Competition Act of 1998 is to promote and maintain competition in South Africa to achieve the following objectives: To promote the efficiency, adaptability and development of the economy.
What is the purpose of competition law?
Competition law – an introduction
The law aims to promote healthy competition. It bans anti- competitive agreements between firms such as agreements to fix prices or to carve up markets, and it makes it illegal for businesses to abuse a dominant market position.
Why is competition law important in South Africa?
Africa’s competition law are broadly similar to those of other major jurisdictions such as Canada, the European Union and the United States. An overarching law, the Competition Act, prohibits anti-competitive behaviour such as price-fixing and collusion between competitors, and the abuse of dominance.
What is the Competition Commission and what is their role in South Africa?
The Commission is empowered by the Competition Act to investigate, control and evaluate restrictive business practices, abuse of dominant positions and mergers in order to achieve equity and efficiency in the South African economy.
What is the success of the competition policy in South Africa?
The competition policy act’s goal was to prevent monopoly growth. Also, with the help of this system, countries’ monopolies and markets were governed. It helped all South Africans by creating jobs and allowing small and medium businesses to participate in the ownership economic change, balancing the act.
