Headline Points: Revised Implementation Guidelines to the Competition Ordinance
31 March 2015
Mayer Brown JSM Legal Update
Yesterday the Hong Kong Competition Commission (Commission) published revised implementation guidelines (revised Guidelines) to the Competition Ordinance (Cap. 619) (CO). In revising the Guidelines the Commission considered 64 submissions from a range of organisations commenting on the previous draft of the Guidelines.
The CO will have a profound impact on the way business is conducted in Hong Kong. As businesses review their commercial practices, the revised Guidelines will hopefully provide greater legal certainty and elucidate the extent to which businesses will have to restructure certain agreements and change established practices to comply with the CO.
While the Commission has not commenced operations, it has been monitoring the market and conducting targeted studies and research on certain matters, such as building management. The Commission is also welcoming parties to come forward with any concerns about potentially anti-competitive practices; any information it receives before the CO comes into force will be kept on record and may be used in future enforcement activity.
In this legal update, we summarise the headline points in the revised Guidelines to inform you about what has changed and what has not changed from the previous draft Guidelines.