Philippine Competition Act Simplified on Maharlikanism

General Provisions

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Section 2. Declaration of Policy

The efficiency of market competition as a mechanism for allocating goods and services is a generally accepted precept.

Philippine Competition Commission

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Section 5. Philippine Competition Commission

This law creates the Philippine Competition Commission (PCC) in order to:

implement the national competition policy
attain the objectives of this Act

It will be:

Prohibited Acts

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Section 14. Anti-Competitive Agreements

(a) The following agreements, between or among competitors, are per se prohibited:

(1) Restricting competition as to price, or components thereof, or other terms of trade;

DISPOSITION OF CASES

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Section 24. Relevant Market

For purposes of determining the relevant market, the following factors, among others, affecting the substitutability among goods or services constituting such market and the geographic area delineating the boundaries of the market shall be considered:

Mergers And Acquisitions

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Section 16. Review of Mergers and Acquisitions

The Commission shall have the power to review mergers and acquisitions based on factors deemed relevant by the Commission.

Section 17. Compulsory Notification

Parties to the merger or acquisition agreement referred to in the preceding section wherein the value of the transaction exceeds 1 billion pesos are prohibited from consummating their agreement until 30 days after providing notification to the Commission in the form and containing the information specified in the regulations issued by the Commission as long as the Commission shall promulgate other criteria, such as increased market share in the relevant market in excess of minimum thresholds, that may be applied specifically to a sector, or across some or all sectors, in determining whether parties to a merger or acquisition shall notify the Commission under this Chapter.

Fines And Penalties

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Section 29. Administrative Penalties

(a) Administrative Fines. – In any investigation under Chapter III, Sections 14 and 15, and Chapter IV, Sections 17 and 20 of this Act, after due notice and hearing, the Commission may impose the following schedule of administrative fines on any entity found to have violated the said sections:

ENFORCEMENT

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Section 31. Fact Finding; Preliminary Inquiry

The Commission, motu proprio, or upon the filing of a verified complaint by an interested party or upon referral by a regulatory agency, shall have the sole and exclusive authority to initiate and conduct a fact-finding or preliminary inquiry for the enforcement of this Act based on reasonable grounds.

OTHER PROVISIONS

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Section 46. Statute of Limitations

Any action arising from a violation of any provision of this Act shall be forever barred unless commenced within five (5) years from:

For criminal actions, the time the violation is discovered by the offended party, the authorities, or their agents; and For administrative and civil actions, the time the cause of action accrues.

FINAL PROVISIONS

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Section 50. Implementing Rules and Regulations

Within 180 days from the effectivity of this Act, the Commission, in consultation with the DOJ-OFC and concerned sector regulators shall promulgate the necessary implementing rules and regulations for the implementation of this Act.