The House of Representatives will convene on Wednesday in a legislative session to discuss a draft amendment to the Competition Law, recently approved by the Parliamentary Economy and Investment Committee.
اضافة اعلان
According to the explanatory memorandum of the draft law, the amendment aims to protect free and effective competition in the market and to develop mechanisms for its enforcement in the Kingdom in line with global best practices. This will be achieved by strengthening the institutional framework of the administrative body responsible for implementing the law’s provisions, through restructuring the Competition Directorate at the Ministry of Industry, Trade and Supply into a department to be known as the Competition Protection Department, which will be linked to the Minister of Industry, Trade and Supply and headed by a Director General.
The draft law also seeks to enhance the role of the advisory body by establishing a Competition Affairs Council, defining its duties, the method of appointing its members, and the mechanisms for convening its meetings and making its decisions.
