• 2011 (116)
  • 2010 (60)
  • Facebook Image
    Democratic and Reform Resources Centre, Powered by Joomla!
    22 Dec 2010 列印 E-mail

    Category

       Economics Policy

    Issue

    • Legislation of Competition Law

    News Content

    • During the meeting with Secretary for Commerce and Economic Development Rita Lau Ng Wai-lan last week, the Hong Kong General Chamber of Commerce told the government the government’s draft competition law lacks detail and calls on the government to provide more details on what constitutes price-fixing and abuse of market power.
    • Chamber chairman Anthony Wu Ting-yuk said ambiguities abounded when defining what a contravention was. He said: ‘an unclear bill means companies are forced to seek legal advice. These legal and compliance costs can be a heavy burden for small and medium-sized businesses.’
    • Wu also said there should be representatives from the business sector in the competition commission.

    Questions

    • Although it is widely expected the bill will be passed by the Legco before July 2012, business sector has been putting up pressure on government, fueling worries that it the lawmakers may not be able to pass the bill before July 2012.
    • If it is the case, the legislative process will have to be restarted from scratch in the new four-year term, which means the long-awaited competition law will then be further delayed.