Competition Act, 2007

This Act is made to apply to all economic activities within the country or having effect in the country with the exception of trade practices which exercise exclusive trading privileges conferred by a government agency or law and trade practices which are associated with the licensing of participants in certain trades by agencies of the government or in accordance with authority by a law. The Act establishes the Competition Commission and grants it legal personality, provides for its composition and charge it with the authority to monitor, regulate and control acts which adversely affect competition in business within the country. Essentially, the Commission is to provide information for the guidance of consumers regarding their rights, inform business about their rights, take expedient actions to regulate the creation of mergers and address the abuse of a dominant position by an enterprise, among others. The Act outrightly prohibits anti-competitive trade practices, including agreements to fix prices, market and customer allocation agreements, collusive tendering and bid rigging, predatory pricing, discriminatory pricing, etc.