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Asia Pacific Competition Law Handbook 2014-15

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Asia Pacific Competition Law Handbook 2014-15 Asia-Pacific Competition Law Handbook 2014/15 R elated publications OUR GLOBAL COMPETITION AND REGULATION TEAM (2014) This brochure is a snapshot of our global Competition legal team at Ashurst. It highlights their star expertise, in-depth knowledge and provides an overview of our full range of competition law areas, in which our team can provide strategic and commercially focused advice to clients around the globe. OUR competition and REGULATION TEAM – AUstRALIA AND ASIA PACIFIC (2014) This brochure is an overview of the Australian and Asia Pacific Competition legal team at Ashurst. It highlights their star expertise, in-depth knowledge and provides an overview of legal areas in which our team can provide strategic and commercially focused advice to clients, within the region and around the globe. AUstRALIA – AN intRODUction FOR inVestoRS (2013) This guide assists foreign investors to understand the legal, taxation and regulatory requirements of investing in the Australian market. This guide was published jointly with Austrade, the Australian Government’s trade and investment development agency. This publication is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to. Readers should take legal advice before applying the information contained in this publication to specific issues or transactions. For more information please contact us at Ashurst LLP, 12 Marina Boulevard, #24-01 Marina Bay Financial Centre Tower 3, Singapore 018892, +65 6221 2214, www.ashurst.com Ashurst is not licensed to practise local law in all of the jurisdictions referred to. Ashurst can work with local counsel in jurisdictions where it does not have local practice capability to arrange the necessary advice for clients with specific issues. Ashurst LLP and its affiliates operate under the name Ashurst. Ashurst LLP is a limited liability partnership registered in England and Wales under number OC330252. It is a law firm authorised and regulated by the SolicitorsR egulation Authority of England and Wales under number 468653. The term “partner” is used to refer to a member of Ashurst LLP or to an employee or consultant with equivalent standing and qualifications or to an individual with equivalent status in one of Ashurst LLP’s affiliates. Ashurst Australia (ABN 75 304 286 095) is a general partnership constituted under the laws of the Australian Capital Territory and is part of the Ashurst Group. Further details about Ashurst can be found at www.ashurst.com.. © Ashurst LLP and Ashurst Australia 2014. No part of this publication may be reproduced by any process without prior written permission from Ashurst. Enquiries may be emailed to [email protected]. Design AU Ref: 17113 Nov 14 www.ashurst.com Index PAGE 1. Australia ...................................................................................... 5 2. Bangladesh ................................................................................ 25 3. Brunei Darussalam ...................................................................... 29 4. Cambodia .................................................................................. 35 5. Fiji ............................................................................................ 45 6. Hong Kong ................................................................................. 53 7. India ......................................................................................... 65 8. Indonesia ................................................................................... 83 9. Japan ...................................................................................... 109 10. Laos (Lao Peoples' Democratic Republic) ...................................... 129 11. Malaysia .................................................................................. 133 12. Mongolia .................................................................................. 147 13. Myanmar ................................................................................. 153 14. New Caledonia .......................................................................... 161 15. New Zealand ............................................................................ 167 16. Pakistan................................................................................... 185 17. Papua New Guinea .................................................................... 197 18. People's Republic Of China – PRC ................................................ 207 19. Philippines ............................................................................... 237 20. Singapore ................................................................................ 249 21. South Korea – Republic Of Korea ................................................ 261 22. Sri Lanka ................................................................................. 281 23. Taiwan .................................................................................... 289 24. Thailand .................................................................................. 309 25. Timor-Leste.............................................................................. 321 26. Vanuatu ................................................................................... 335 27. Vietnam ................................................................................... 343 Page 1 Asia-Pacific Competition Law Handbook Introduction Competition law in the Asia-Pacific region is dynamic, diverse and enforced by increasingly sophisticated and active regulators. Competition policy in the Asia-Pacific region has been evolving rapidly and its impact on the conduct of businesses operating in the region has never been as pervasive. Understanding the competition laws in the region is critical for businesses to continue to innovate, grow and thrive. Over the past year, China has continued to be very active in investigating anti- competitive conduct cases and has imposed very significant fines. The Chinese merger regulator, MOFCOM, has recently blocked a proposed transaction (only its second) and imposed very significant conditions on several others in the last year. More broadly, ASEAN member countries are gathering momentum to establish a common regional focus on competition law and policy, in keeping with its goal of achieving an ASEAN Economic Community by 2015. Our Handbook provides you and your organisation with a useful overview of competition law and practice around the Asia-Pacific region. There are well established competition regimes in North Asia, with China, Japan, Korea and Taiwan all enforcing effective competition laws. In South East Asia, Singapore, Malaysia and Indonesia have the most established and active regimes. In the Pacific, both Australia and New Zealand have sophisticated regimes with active regulators, and Papua New Guinea's and Fiji's regimes are well established. We have also included materials on the emerging competition law regimes in Hong Kong, Thailand and Vietnam, and on the remaining ASEAN nations (Brunei Darussalam, Cambodia, Laos, Myanmar and the Philippines), which have each committed to endeavour to introduce a national competition law and policy by 2015. On the subcontinent, India and Pakistan now have modern regimes in place, with the Indian regulator enforcing the new laws very aggressively, and regimes are also in place in neighbouring Bangladesh and Sri Lanka. This Handbook also includes materials on the competition law regimes in East Timor, Mongolia, New Caledonia and Vanuatu. Additional regimes which may establish competition laws in 2014/2015 are the Solomon Islands and Samoa. The Solomon Islands appear to be following in Fiji's and PNG's footsteps by introducing an independent competition regulator, and Samoa has issued a draft competition and consumer Bill in 2014. We will cover these jurisdictions in next year's edition. Page 3 This second edition of the Handbook is current as at September 2014. The information provided in this Handbook is general in nature and not legal advice. Specific professional advice should always be taken on particular matters that may arise. Ashurst – expert Competition law advice Across the Asia-Pacific region, Australia, Europe and the United Kingdom, Ashurst is well placed to provide expert advice, to coordinate with local counsel where necessary and to assist you and your organisation to manage competition law compliance and advice. Our partners, consultants and lawyers are leaders in all areas of competition law. We have a well-established presence in the Asia-Pacific region with offices in Sydney, Melbourne, Brisbane, Perth, Beijing, Shanghai, Hong Kong, Singapore, Tokyo, and Port Moresby, as well as a close association with Oentoeng Suria & Partners in Jakarta and a "Best Friend Firm" relationship with Indian Law Partners in India. All our offices have native language speakers and combine extensive international experience with valuable local knowledge. We trust that you and your organisation will find this Handbook to be a useful tool. We would appreciate any feedback you may have on this publication. "Ashurst fields ‘a strong team that is great at building and maintaining relationships by delivering consistently high-quality work’" Chambers Asia-Pacific, 2014 Page 4 Asia Pacific offices Adelaide Jakarta Shanghai Level 3 in association with Suites 3408-10, 70 Hindmarsh Square Oentoeng Suria & Partners CITIC Square Adelaide SA 5000 Level 45 Equity Tower 1168 Nanjing
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