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(Bandar Seri Begawan, 1st) – The Brunei Competition Commission (CCBD) has announced the full implementation of Sections 21 and 23 of the Competition Act, effective immediately, further strengthening the oversight of market monopolies and anti-competitive conduct.
The respective provisions prohibit businesses from abusing their market dominance and ban mergers that may significantly lessen market competition, aiming to establish a fairer, more resilient, and business-friendly market environment.
The Competition Act aims to promote free and fair competition in Brunei, thereby enhancing overall economic efficiency, driving sustainable development, and protecting consumer choice and welfare. This move also aligns with the long-term objectives of “Wawasan Brunei 2035” to create a high quality of life and vibrant economy.
According to Section 21, enterprises in a dominant market position are not allowed to engage in anti-competitive practices such as predatory pricing, forced exclusive dealing, or other means of suppressing competitors.
Section 23 prohibits any large-scale mergers that could weaken competition, especially those that lead to higher prices or inhibit market innovation.
CCBD pointed out that the implementation of these provisions marks another significant milestone following the entry into force of Section 11 of the Competition Act in 2020. Section 11 has already banned anti-competitive agreements, including price fixing, bid rigging, market sharing, and supply restrictions.
With Sections 21 and 23 now in effect, the three core pillars of the Competition Act have been fully implemented.
The Commission encourages local businesses to proactively review their commercial conduct to ensure compliance, avoid potential violations, and promote a healthier competition culture.
The public and businesses can visit the official website at www.ccbd.gov.bn or contact the Executive Secretariat via telephone (2383100) or email (exec.secretariat@ccbd.gov.bn) for more information.
The Competition Act aims to promote free and fair competition in Brunei, thereby enhancing overall economic efficiency, driving sustainable development, and protecting consumer choice and welfare. This move also aligns with the long-term objectives of “Wawasan Brunei 2035” to create a high quality of life and vibrant economy.
According to Section 21, enterprises in a dominant market position are not allowed to engage in anti-competitive practices such as predatory pricing, forced exclusive dealing, or other means of suppressing competitors.
Section 23 prohibits any large-scale mergers that could weaken competition, especially those that lead to higher prices or inhibit market innovation.
CCBD pointed out that the implementation of these provisions marks another significant milestone following the entry into force of Section 11 of the Competition Act in 2020. Section 11 has already banned anti-competitive agreements, including price fixing, bid rigging, market sharing, and supply restrictions.
With Sections 21 and 23 now in effect, the three core pillars of the Competition Act have been fully implemented.
The Commission encourages local businesses to proactively review their commercial conduct to ensure compliance, avoid potential violations, and promote a healthier competition culture.
The public and businesses can visit the official website at www.ccbd.gov.bn or contact the Executive Secretariat via telephone (2383100) or email (exec.secretariat@ccbd.gov.bn) for more information.