Competition law.
Country
Type of law
Legislation
Date of original text
Date of latest amendment
Abstract
This Law primarily focuses on the regulatory framework established, which aims to ensure fair competition within the market. It outlines the objectives of the Competition Council, which include evaluating the impact of legal norms on market mechanisms and preventing actions that could significantly harm competition. The legal principles emphasized include the authority of the Competition Council to assess proposed legal acts and documents that may restrict competition, as well as the necessity for public consultations regarding the Council's strategic directions. The document specifies several key measures that the Competition Council is empowered to undertake. These include the ability to request documents from market participants, conduct onsite inspections, and obtain written or verbal explanations from employees of market participants. It also highlights the Council's authority to prioritize cases and establish internal operational rules, ensuring transparency and accountability in its processes. Recommendations for compliance with the law and strategic priorities for the upcoming year are also outlined, emphasizing the importance of public accessibility to the Council's operational strategies. The implementation plan involves the Competition Council's officials executing their duties as outlined in the law, with their powers confirmed by official identification. The document mentions the need for a structured approach to decision-making, including the signing of decisions by the Council's chairperson. Secondary themes include procedural aspects such as the requirement for sound recording of explanations when necessary, the handling of confidential information, and the involvement of a consultative council to facilitate broader stakeholder engagement in the development and implementation of competition policy.
Attached files
Web site
Entry into force notes
This Law enters into force on 1 January 2002.
Repealed
No
Source language
English
Legislation Amendment
No
Original title
Konkurences likums.