Commission welcomes formal market inquiry powers
The Competition Commission would be provided with formal powers to conduct market inquiries from April 1, following the initiation of Section 6 of the Competition Amendment Act 1 of 2009.
Market inquiries, the commission said, were globally recognised as an important tool in promoting competition in the economy through the investigation of the general state of competition in a market for a particular good or service.
The Competition Amendment Act, which was signed and assented to by President Jacob Zuma in 2009, would allow the commission to initiate a market enquiry if it had reason to believe that any feature of a market for any good or service prevented, distorted or restricted competition in that market.
The amendment provided for the conduct of market enquiries, including the selection, initiation, conduct and outcomes of such inquiries.
During its conduct of a market inquiry, the commission was empowered by the amendment to issue summons to compel persons to appear before the inquiry and to compel evidence that had a bearing on the subject matter to be presented.
Such outcomes may include recommendations to Trade and Industry Minister Dr Rob Davies for new or amended policy, legislation or regulations, or recommendations to other regulatory authorities in respect of competition matters.
On the basis of information obtained during such an inquiry, the commission may also initiate a complaint, which may be settled or referred to the Competition Tribunal.
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