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Regulatory Framework of Business Transactions
Philippine Competition Act
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Created by
Christine Abegail
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Cards (20)
What is the title of the Philippine Competition Act?
Republic Act No.
10667
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What is the main purpose of the
Philippine Competition Act
?
To provide a national competition policy and measures against
anti-competitive
practices
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What are the key prohibitions for the
Commissioners
under the
Philippine Competition Act
?
Cannot
hold other offices or employment during their term
Cannot participate in contracts with the government
Cannot be consultants to corporations
Cannot participate in elections of corporate officers
Family members cannot appear before the agency
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How long must the
Commissioners
abstain from engaging in cases after leaving office?
Two years
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What is the
compensation
status for members and personnel of the
Commission
?
They are exempted from certain compensation and entitlement regulations
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What constitutes
anti-competitive
agreements under
Section 14
?
Price fixing
Limiting production or supply
Collusive bidding
Market allocation
Sharing markets by various means
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What is prohibited under
Section 15
regarding
dominant positions
?
Abuse of dominant position
that restricts competition
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What is one example of
conduct
that could be considered
abuse of dominant position
?
Selling goods below cost to drive competitors out
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How does the
Commission
evaluate the intent behind selling goods
below cost
?
It considers whether the lower price was due to
efficient management
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What are the types of discriminatory pricing practices mentioned in
Section 15
?
Geocoded pricing
Price differentials
reflecting manufacturing costs
Price differentials due to market changes
Price fixes
imposed by competition
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What happens if the
Commission
finds evidence of violations of the Act?
They may file a criminal complaint with the
DOJ
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What is the
Commission's
jurisdiction
regarding
sector regulations
?
The Commission has original and primary jurisdiction over competition issues
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What is the
consequence
for
violations
involving
prime commodities
?
The
fine
imposed shall be
doubled
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What is the role of the
Commission
in relation to
sector regulations
?
The Commission works with sectors to promote competition and resolve issues
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What is the significance of
Section 42
regarding
immunity
from suit?
It provides immunity for the
Chairperson
and
Commissioners
in their official capacity
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What is the role of the
Chairperson
and
Executive Director
of the
Commission
regarding legal representation?
They may appear as counsel for the
Republic of the Philippines
in relevant matters
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What is the process for
preliminary investigations
by the
Commission
?
The Commission conducts investigations in compliance with
established rules
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How does the
Commission's
findings impact market competition?
They can lead to
penalties
that affect consumer welfare and competition
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What does
Section 27
define regarding
market dominant position
?
It outlines the
criteria
for determining market dominance
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What are the penalties outlined in
Section 28
for
violations
of the Act?
Penalties
may include fines and other
administrative actions
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