Parliament adopts controversial Competition Amendment Bill
The opposition objected to various proposals in the legislation, particularly on the minister’s regulatory role, which it said would confer too much power
The National Assembly on Tuesday adopted the controversial Competition Amendment Bill, despite objections by the opposition parties. The opposition objected to various proposals contained in the bill, particularly on the minister’s regulatory role, which they said would give too much power to the economic development minister. Among other things, the bill is intended to provide for an extension of the mandate of the competition authorities and the executive to tackle high levels of economic concentration. It is also meant to tackle the limited transformation in the economy and the abuse of market power by dominant firms. Various analysts have raised concern about the clause on “intervention in merger proceedings involving a foreign acquiring firm”, saying this would give the government the right to block foreign investment. During the debate on the bill in parliament on Tuesday, DA MP and economic development spokesperson Michael Cardo said the bill is “flawed … emanating from a fla...
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