Saw this news clip: Competition bill will prevent monopoly and protect consumers
- KUALA LUMPUR: The Competition Bill 2010 to prevent monopoly and cartel activities by big companies was tabled for first reading in Dewan Rakyat on Wednesday, April 7.
Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaacob said the bill's aim was to encourage economic growth by protecting competition and consumers' interest.
He also tabled the Competition Commission Bill 2010 for establishment of the commission responsible for enforcing the Competition Act.
Under the Competition Bill, big companies in the same trade are prohibited from making agreements to prevent or hinder competition in the market.
Ismail said that the companies are also prohibited from price-fixing, directly or indirectly, and can be fined not more than RM5 million for the first offence and not more than RM10 million for the second and subsequent offences.
Individuals can be fined for not more than RM1 million or jailed for not more than five years, or both for the first offence. They can be fined for not more than RM2 million or jailed for not more than five years, or both for the second and subsequent offfences. -- Bernama
Astro are you hearing this?
But in this case, there's no cartel for Astro to price-fix, right?
ReplyDeleteAstro is THE only game in town. And will probably be for the foreseeable future.
So, technically, they are a monopoly who is not doing any price-fixing. Hehehe.