Fair Competition (Amendment) Act, 2024.

This Act amends the original text in several parts, the main ones of which are (i) substituting the word court with the word Commission wherever it appeared; (ii) modifying in Section 2 the definition of consumer; (iii) adding Section 9A establishing a leniency program under which the Commission may reduce or waive penalties for self-disclosing and cooperating parties in prohibited agreements; (iv) adding in Section 10 a subsection establishing that abuse of a dominant position includes unfair pricing, restricting market access, predatory pricing, margin squeeze, refusal to deal, and other anti-competitive practices that harm consumers or suppliers; (v) adding Section 10A detailing the prohibited agreements; (vi) adding Section 11A establishing that the Commission may approve a prohibited merger if it provides substantial public benefits, such as improved efficiency, economic progress, or enhanced exports; (vii) modifying Section 60 dealing with fines.