February 21, 2020
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Competition law reform: tighter merger control thresholds, new governing board, faster timelines, enhanced penalties, settlement and commitment processes.
The Bill amends the Competition Act to broaden key definitions (including enterprise and cartel), treat intangible assets in combination thresholds, reform merger notification and timelines (including a streamlined filing route and stock-exchange open-offer rules), create a Governing Board alongside the Commission with delegation and panel mechanisms, expand Director General investigatory powers (document production, examinations, searches and seizures), recalibrate penalties tied to turnover/income, and introduce settlement and commitment procedures with monitoring and sanctions for non-compliance while requiring transparent rulemaking and non-binding guidance on penalties.