An “open letter” to Government and business from The Lion Rock Institute: LRI reiterates that the current competition legislation will greatly undermine competition and the rule of law in Hong Kong
Don’t sell out the concept of competition – Hong Kong’s business and legal reputation is at stake
Can you accept a piece of legislation that exempts the government from anti-competitive behavior? If the ICAC and Equal Opportunities Commission are independent and they investigate (and sanction) public and private alike, why not the Competition Committee?
This is a very scary bill. There’s absolutely no way a lawyer could support it. It is so broad in what it covers, so lacking in clarity, so easy to extend to cover all mergers. It is so simple – bans all competitive conduct or agreements , unless there are offsetting economic benefits. Thus all commerce is potentially subject to review. Companies will have to review nearly all of their commercial relationships.
Read more Lion Rock articles on Competition Law.