The Philippine Competition Act, officially designated as Republic Act No. 10667, is a Philippine law that was signed into law by PresidentBenigno Aquino III on July 21, 2015, and established the quasi-judicialPhilippine Competition Commission to enforce the act.[1][2][3][4] The act is intended to ensure efficient and fair market competition among businesses engaged in trade, industry, and all commercial economic activities.[3] It prohibits anti-competitive agreements, abuses of dominant positions, and mergers and acquisitions that limit, prevent, and restrict competition.[5]
An Act Providing for a National Competition Policy Prohibiting Anti-Competitive Agreements, Abuse of Dominant Position and Anti-Competitive Mergers and Acquisitions, Establishing the Philippine Competition Commission and Appropriating Funds Therefor
A comprehensive competition law was first proposed in the late 1980s during the administration of President Cory Aquino.[5]
The Philippines was the only country in ASEAN without a competition law and the integration of ASEAN into a single market was an impetus to pass the act.[5]
Arsenio Balisacan resigned from his post as Philippine Socioeconomic Planning Secretary and Director General of the National Economic and Development Authority to lead the Philippine Competition Commission.[3] Guevarra left the Commission after he was appointed Senior Deputy Executive Secretary. He was replaced by lawyer Amabelle Asuncion.
In February 2023, President Ferdinand Marcos Jr. appointed Michael Aguinaldo as the new Chairperson of the PCC, replacing former Chairperson Arsenio Balisacan.
Referencesedit
^Viray, Patricia Lourdes (January 25, 2016). "NEDA chief to head new Philippine Competition Commission". The Philippine Star. Retrieved January 28, 2016.
^Venzon, Cliff (January 26, 2016). "Aquino appoints new antitrust enforcer". Nikkei Asian Review. Nikkei Inc. Retrieved January 28, 2016.
^ abc"NEDA statement on Balisacan move to Competition Commission". BusinessWorld. BusinessWorld Publishing Corporation. January 25, 2016. Retrieved January 28, 2016.
^"Republic Act No. 10667 - Philippine Competition Act". Official Gazette of the Republic of the Philippines. July 21, 2015. Retrieved January 28, 2016.
^ abcSchnabel, Chris (July 13, 2015). "What consumers need to know about the PH Competition Act". Rappler. Retrieved June 14, 2016.
^Bacani, Louis (July 21, 2015). "PNoy OKs landmark Philippine Competition Act, Cabotage Law amendments". The Philippine Star. Retrieved June 14, 2016.
^Sabillo, Kristine Angeli (January 27, 2016). "Balisacan takes oath as competition commission head". Philippine Daily Inquirer. Retrieved January 28, 2016.
External linksedit
Philippine Competition Act on the Official Gazette of the Philippine Government
This Philippines-related article is a stub. You can help Wikipedia by expanding it.
philippine, competition, officially, designated, republic, 10667, philippine, that, signed, into, president, benigno, aquino, july, 2015, established, quasi, judicial, philippine, competition, commission, enforce, intended, ensure, efficient, fair, market, com. The Philippine Competition Act officially designated as Republic Act No 10667 is a Philippine law that was signed into law by President Benigno Aquino III on July 21 2015 and established the quasi judicial Philippine Competition Commission to enforce the act 1 2 3 4 The act is intended to ensure efficient and fair market competition among businesses engaged in trade industry and all commercial economic activities 3 It prohibits anti competitive agreements abuses of dominant positions and mergers and acquisitions that limit prevent and restrict competition 5 Philippine Competition ActCongress of the PhilippinesLong title An Act Providing for a National Competition Policy Prohibiting Anti Competitive Agreements Abuse of Dominant Position and Anti Competitive Mergers and Acquisitions Establishing the Philippine Competition Commission and Appropriating Funds ThereforCitationRepublic Act 10667Territorial extentPhilippinesEnacted byHouse of RepresentativesEnacted bySenateSigned byBenigno Aquino IIISignedJuly 21 2015Status In force Contents 1 History 2 Philippine Competition Commission 3 References 4 External linksHistory editA comprehensive competition law was first proposed in the late 1980s during the administration of President Cory Aquino 5 The Philippines was the only country in ASEAN without a competition law and the integration of ASEAN into a single market was an impetus to pass the act 5 Philippine Competition Commission editThe Philippine Competition Commission is an independent quasi judicial body created to enforce the act It is attached to the Office of the President of the Philippines 6 Five commissioners were appointed to the Philippine Competition Commission and sworn in on January 27 2015 7 Michael G Aguinaldo Chairperson Marah Victoria S Querol Ferdinand M Negre Michael B Peloton Lolibeth R Medrano Arsenio Balisacan resigned from his post as Philippine Socioeconomic Planning Secretary and Director General of the National Economic and Development Authority to lead the Philippine Competition Commission 3 Guevarra left the Commission after he was appointed Senior Deputy Executive Secretary He was replaced by lawyer Amabelle Asuncion In February 2023 President Ferdinand Marcos Jr appointed Michael Aguinaldo as the new Chairperson of the PCC replacing former Chairperson Arsenio Balisacan References edit Viray Patricia Lourdes January 25 2016 NEDA chief to head new Philippine Competition Commission The Philippine Star Retrieved January 28 2016 Venzon Cliff January 26 2016 Aquino appoints new antitrust enforcer Nikkei Asian Review Nikkei Inc Retrieved January 28 2016 a b c NEDA statement on Balisacan move to Competition Commission BusinessWorld BusinessWorld Publishing Corporation January 25 2016 Retrieved January 28 2016 Republic Act No 10667 Philippine Competition Act Official Gazette of the Republic of the Philippines July 21 2015 Retrieved January 28 2016 a b c Schnabel Chris July 13 2015 What consumers need to know about the PH Competition Act Rappler Retrieved June 14 2016 Bacani Louis July 21 2015 PNoy OKs landmark Philippine Competition Act Cabotage Law amendments The Philippine Star Retrieved June 14 2016 Sabillo Kristine Angeli January 27 2016 Balisacan takes oath as competition commission head Philippine Daily Inquirer Retrieved January 28 2016 External links editPhilippine Competition Act on the Official Gazette of the Philippine Government nbsp This Philippines related article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Philippine Competition Act amp oldid 1187783617, wikipedia, wiki, book, books, library,
