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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    An expert details the importance of competition law and antitrust

    Rocky
    Rocky
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    An expert details the importance of competition law and antitrust Empty An expert details the importance of competition law and antitrust

    Post by Rocky Fri 17 Nov 2023, 5:01 am

    An expert details the importance of competition law and antitrust
    • Time: 11/17/2023 13:56:37
       
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    {Local: Al-Furat News} Legal expert Ali Al-Tamimi stressed the importance of competition law and monopoly prevention.
    Al-Tamimi said in a statement, a copy of which was received by {Al-Furat News}, that “Competition and Antitrust Law No. 14 of 2010 consists of 16 articles and aims to prevent monopolistic competition and regulate competition between investors, producers and marketers...in all economic activities, which is to say, this law applies to activities.” Commercial services and services inside and outside Iraq because they have internal impacts and effects, and it applies to natural and legal persons, meaning it applies to companies, non-governmental institutions and associations.”
    He stated that “it is the duty of the law, in accordance with Article 4 thereof, to form a Competition and Monopoly Prevention Council, which has legal personality and financial and administrative independence, and is linked to the Prime Minister. The Council consists of a president and members from various ministries, including industry, trade, communications, and others, who are determined by the Prime Minister, and the Council sets its internal regulations. This Council also It forms technical, administrative, and sensitivity units when needed. The Council specifies these committees in the bylaws. The Council also works to spread the culture to prevent monopoly, coordinate with the relevant authorities, and conduct investigations by receiving complaints or referrals that come from the court. It is also the council that notifies the court of the results. And submitting an annual report. The Council of Ministers and the appointment of advisors.
    Al-Tamimi continued, "As for the tasks of the committees affiliated with the Council, it is to authorize their employees to enter shops and commercial offices, inspect and inspect documents, and keep them in a special report for a period of 30 days."
    He noted that "the prohibitions stipulated in the law in Article 9 of it include merger in the event that the company controls 50 percent or more of the production of its goods or products, and also what constitutes an imbalance in competition in terms of setting prices or their quantity or sharing markets on the basis of regions or consolidation." With bidding, discrimination between customers, selling at a lower price, or selling perishable items.”
    He pointed out that "registration of agreements is for companies, so it is with the Council in accordance with Article 12 and what follows, on the condition that the restrictions, prices, quantity, and exchange are approved, provided that the Council decides within 30 days. The Council gives initial approvals until the request is decided upon, and the Council has the right to exclude some, and the Council has the right to take appropriate penalties in the event of Failure to register, and any council may refer it with recommendations.”
    He continued by saying, "As for the penalties stipulated in the above law, they are imprisonment of up to three years and fines of up to three million dinars, and there are rewards for informants determined by the head of the Competition and Monopoly Prevention Council."

    Raghad Dahham
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