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Cablegate: Competition Act Incorporates Mergers and Acquisitions

VZCZCXYZ0002
RR RUEHWEB

DE RUEHGP #1077 1570900
ZNR UUUUU ZZH
R 060900Z JUN 07
FM AMEMBASSY SINGAPORE
TO RUEHC/SECSTATE WASHDC 3294
INFO RUCPDOC/DEPT OF COMMERCE WASHDC
RUEAWJA/DEPT OF JUSTICE WASHDC

UNCLAS SINGAPORE 001077

SIPDIS

STATE PASS USTR FOR AUSTR BWEISEL AND JJENSEN
COMMERCE FOR JBAKER

SIPDIS

E.O. 12958: N/A
TAGS: ETRD EINV ECON SN
SUBJECT: COMPETITION ACT INCORPORATES MERGERS AND ACQUISITIONS
AMENDMENTS

REF: 2006 SINGAPORE 3428

1. Singapore's Parliament approved amendments to the
Competition Act that address mergers and acquisitions on May 21
(reftel). The new provisions, which are expected to come into
effect July 1, 2007, constitute the third and final
implementation phase of the Competition Act, which Singapore
enacted in 2004 as part of its obligations under the U.S.-
Singapore Free Trade Agreement. Phase I involved the
establishment of the Competition Commission of Singapore (CCS)
in January 2005. Phase II covered the implementation of Section
34 (anti-competitive agreements) and Section 47 (abuse of market
dominance) guidelines that came into effect in 2006. The CCS is
expected to issue guidelines in support of the new amendments
shortly.

2. Details about the Competition (Amendment) Bill can be found
at the Ministry of Trade and Industry's website
(http://www.mti.gov.sg). A complete text of the Competition Act
is available at http://www.statutes.agc.gov.sg. Information
about the CCS is available at http://www.ccs.gov.sg

HERBOLD

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