Philippine Competition Act

• This Philippine Competition Act does not apply to the combinations or activities of workers or employees nor to agreements or arrangements with their employers when such combinations, activities, agreements, or arrangements are designed solely to facilitate collective bargaining in respect of conditions of employment.
• Parties to the merger or acquisition agreement wherein the value of the transaction exceeds the threshold are prohibited from consummating their agreement until thirty (30) days after providing notification to the Philippine Competition Commission (PCC).
• When the PCC requests further information that are reasonably necessary and directly relevant to the prohibited merger or acquisition, it has the effect of extending the period within which the agreement may not be consummated for an additional sixty (60) days, beginning on the day after the request for information is received by the parties.
• When the above periods of review have expired and no decision has been promulgated for whatever reason, the merger or acquisition shall be deemed approved and the parties may proceed to implement or consummate it.
• Merger or acquisition agreements that substantially prevent, restrict or lessen competition in the relevant market or in the market for goods or services as may be determined by the PCC shall be prohibited.
• Merger or acquisition agreements that substantially prevent, restrict or lessen competition in the relevant market or in the market for goods or services as may be determined by the PCC shall be prohibited.
• An agreement consummated in violation of the requirement to notify the PCC on covered mergers and acquisitions shall be considered void and subject the parties to an administrative fine of one percent (1%) to five percent (5%) of the value of the transaction.
• Beginning March 1, 2023, mergers and acquisitions that breach a Size of Party (SoP) of P7 billion and a Size of Transaction (SoT) of P2.9 billion will have to be notified to the PCC for mandatory merger review.
• The Government Procurement Law applies to the Procurement of Infrastructure Projects, Goods, and Consulting Services, regardless of source of funds, whether local or foreign, by all branches and instrumentalities of government, its departments, offices and agencies, including government-owned and/or -controlled corporations and local government units.