SINGAPORE Law and Practice Contributed by: Lim Chong Kin and Corinne Chew, Drew & Napier LLC
Drew & Napier LLC 10 Collyer Quay #10-01 Ocean Financial Centre Singapore 049315
Tel: +65 6535 0733 Fax: +65 6535 4906
Email: mail@drewnapier.com Web: www.drewnapier.com
1. Cartels Law and Regulation 1.1 Legal Bases The Competition Act 2004 (the “Competition Act” ) is the primary competition legislation in Singapore. Section 34 of the Competition Act prohibits cartel activities ( “Section 34 Prohibi- tion” ) namely, in respect of “agreements between undertakings, decisions by associations of undertakings or concerted practices which have as their object or effect the prevention, restriction or distortion of competition within Singapore” . 1.2 Regulatory/Enforcement Agencies and Penalties The Competition and Consumer Commission of Singapore (the “Commission” ) is the statu - tory body established on 1 January 2005 to administer and enforce the Competition Act under the purview of the Ministry of Trade and Industry. From 1 April 2018, the Commission also assumed responsibility for administering the Consumer Protection (Fair Trading) Act 2003. While cartel matters are adjudicated by the Commission, its decisions can be appealed to the Competition Appeal Board (the “Board” ). In turn, a decision of the Board can be appealed to the General Division of the High Court on a point
of law arising from the decision, or any decision in respect of the quantum of financial penalty imposed. See 5.8 Judicial Review or Appeal for details. Where an infringement of the Section 34 Pro - hibition is found, pursuant to Section 69 of the Competition Act, the Commission has general discretion to give any directions it considers appropriate to stop the infringement and, where necessary, require such action to be taken as is specified in the direction to remedy, mitigate or eliminate any adverse effects of such infringe - ment and to prevent the recurrence of such infringement. A direction may require parties to: • modify or terminate the agreement that infringed the Section 34 Prohibition; • enter into legally enforceable agreements designed to prevent or lessen the anti-com - petitive effects that have arisen; • dispose of operations, assets or shares in undertakings in such manner as may be specified by the Commission; • provide a performance bond, guarantee, or other forms of security on such terms and conditions as the Commission may deter - mine; and/or
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