The Philippine Competition Act, officially designated as Republic Act No. 10667, is a Philippine law that was signed into law by

President President most commonly refers to: *President (corporate title) *President (education), a leader of a college or university *President (government title) President may also refer to: Automobiles * Nissan President, a 1966–2010 Japanese ful ...

Benigno Aquino III on July 21, 2015, and established the quasi-judicial

Philippine Competition Commission The Philippine Competition Commission (PhCC) is an independent, quasi-judicial body formed to implement the Philippine Competition Act (Republic Act No. 10667). The PhCC aims to promote and maintain market competition within the Philippines by ...

to enforce the act. The act is intended to ensure efficient and fair market competition among businesses engaged in trade, industry, and all commercial economic activities. It prohibits anti-competitive agreements, abuses of dominant positions, and mergers and acquisitions that limit, prevent, and restrict competition.

History

A comprehensive competition law was first proposed in the late 1980s during the administration of President

Cory Aquino Maria Corazon "Cory" Sumulong Cojuangco-Aquino (; ; January 25, 1933 – August 1, 2009) was a Filipina politician who served as the 11th president of the Philippines from 1986 to 1992. She was the most prominent figure of the 1986 People P ...

. The Philippines was the only country in

ASEAN ASEAN ( , ), officially the Association of Southeast Asian Nations, is a political and economic union of 10 member states in Southeast Asia, which promotes intergovernmental cooperation and facilitates economic, political, security, militar ...

without a competition law and the integration of ASEAN into a single market was an impetus to pass the act.

Philippine Competition Commission

The

is an independent, quasi-judicial body created to enforce the act. It is attached to the Office of the President of the Philippines. Five commissioners were appointed to the Philippine Competition Commission and sworn in on January 27, 2015: * Arsenio Balisacan (Chairperson) *Stella Alabastro-Quimbo *Johannes Bernabe *Elcid Butuyan *Menardo Guevarra Arsenio Balisacan resigned from his post as Philippine Socioeconomic Planning Secretary and Director General of the National Economic and Development Authority to lead the Philippine Competition Commission. Guevarra left the Commission after he was appointed Senior Deputy Executive Secretary. He was replaced by lawyer Amabelle Asuncion.

References

External links

Philippine Competition Act
on the Official Gazette of the Philippine Government Competition law Philippine legislation 2015 in the Philippines 2015 in law Economy of the Philippines {{Philippines-stub