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Ten things you need to know about amendments to the Competition Act
On 4 December 2018 the National Council of Provinces voted to approve the Competition Amendment Bill of 2018. With this vote, the Bill has now completed the Parliamentary process. All that remains is for the President to formally assent to the Bill and announce its commencement date.This is expected to happen shortly. The Bill constitutes a major overhaul of the Competition Act of 1998 and sweeping new powers are given to the Competition Authorities to address the perceived high concentration levels and lack of transformation in the South African economy. Stated below, in a succinct and simplified form, are the key amendments you need to know as a business owner:
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