Stronger law gives MyCC edge against cartels [WATCH]

The Malaysia Competition Commission (MyCC) has received a stronger legal framework with the passage of amendments to the Competition Act 2010. These amendments, passed in July, aim to enhance MyCC's investigative powers, settlement framework, and court appellate process, enabling it to better combat cartels, bid rigging, and price-fixing.

The amendments close a legal gap that previously allowed trade associations to evade liability by claiming they were not directly engaged in commercial activity, ensuring that associations can now be investigated and held accountable for facilitating anti-competitive conduct. Additionally, MyCC now has mandatory powers under Section 11A to gather data and documents from commercial entities and statutory bodies during market reviews.

A settlement mechanism under Section 38A allows enterprises to receive up to a 40% reduction in financial penalties for admitting liability, encouraging early resolution and benefiting consumers by correcting anti-competitive behavior swiftly.

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