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 Act | |
|---|---|
 | |
| Congress of the Philippines | |
| |
| Citation | Republic Act 10667 |
| Territorial extent | Philippines |
| Enacted by | House of Representatives |
| Enacted by | Senate |
| Signed by | Benigno Aquino III |
| Signed | July 21, 2015 |
| Status: In force | |
History
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
edit- Philippine Competition Act on the Official Gazette of the Philippine Government
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