Competition Law at Seychelles
Sure! Here’s an overview of Competition Law in Seychelles:
Competition Law in Seychelles
1. Legal Framework
Seychelles has a relatively modern competition law framework established by the Competition Act, 2005.
The Act is designed to promote and protect competition, prevent monopolies and unfair trade practices, and protect consumer interests.
2. Regulatory Authority
The main authority responsible for enforcement is the Fair Trading Commission (FTC) of Seychelles.
The FTC investigates anti-competitive behavior, reviews mergers, and monitors market conduct.
3. Key Provisions
Anti-competitive Agreements
Prohibits agreements that prevent, restrict, or distort competition.
Includes price fixing, market sharing, bid rigging, and other collusive practices.
Abuse of Dominant Position
Prohibits dominant firms from abusing their market power.
Practices like predatory pricing, refusal to supply, and discriminatory practices are forbidden.
Merger Control
Requires prior notification to the FTC for mergers that meet certain turnover or market share thresholds.
The FTC reviews mergers to assess their impact on competition and can approve, conditionally approve, or block transactions.
4. Sanctions and Enforcement
The FTC can impose administrative fines for violations.
Remedies may include orders to cease anti-competitive conduct or structural remedies.
Persistent offenders may face heavier penalties.
5. Additional Context
Seychelles’ Competition Act aligns with international competition principles.
The FTC works to create a fair business environment and consumer protection.
Given Seychelles’ small market size, enforcement tends to focus on maintaining competitive markets rather than heavy-handed intervention.
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