KUALA LUMPUR – The Malaysian Competition Commission (MyCC) has launched an online public consultation session until May 27 to seek the views and feedback of the public and stakeholders on the proposed amendments to the Competition Act 2010.
Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said in a statement that this amendment would seek to make Malaysia’s competition law more comprehensive and in line with international practice.
Nanta said it was also to ensure that MyCC could perform its statutory functions effectively to promote and protect the process of competition in the market.
“Amendments to the Competition Act 2010 including amendments to provisions relating to investigation and enforcement powers and the introduction of a merger control regime will give MyCC the power to assess and investigate merger transactions that have the potential to cause market concentration.
“MyCC will also hold two separate physical public consultation sessions for government agencies and the public on June 7 and 8,” he said.
Stressing that strong enforcement was essential for effective legislation, Nanta said the impact of the Competition Act 2010 depended on its effective implementation, through a strong enforcement system based on adequate resources.
“This is important to ensure that all competition instruments are used appropriately.
“Therefore, all comments and feedback from the public are important for MyCC to take a step forward to determine the legal landscape of local competition,” he said.
Copies of the amendments and important information regarding the implementation of these amendments can be found on the MyCC website at www.mycc.gov.my.
Further details on the online and physical public consultation sessions can also be found on the same website. – Bernama, May 26, 2022
