Competition policy encapsulates a dynamic set of rules, the enforcement of which aims in the promotion of conditions of fair competition between enterprises and the enhancement of consumers’ welfare.
- the prohibition of mergers which impede effective competition
- the prohibition of abuse of a market-dominating position
- the control of mergers of enterprises
The Consumer Protection Service is responsible for drafting the national legislation -in compliance with EU legislation- so as to establish conditions of fair competition in the market and the potential to effectively control concentrations between companies.
Further to the above, the Consumer Protection Service has the responsibility of monitoring the market and –when needed- to propose to the relevant Minister specific policy and legal measures which will restore conditions of effective competition.
The two basic national laws on competition issues are:
- The Protection of Competition Laws of 2008 and 2014, and
- The Control of Concentration Between Undertakings Law of 2014
The implementation of the two abovementioned laws is the responsibility of the Commission for the Protection of Competition (CPC), which operates as an independent authority. CPC has also been designated as the competent authority for the relevant EU Regulations, so as to be able to effectively implement the relevant legislation, in a non-discriminatory manner.
CPC has the exclusive competence for the harmonious operation of the market, within the rules of fair competition far from any anticompetitive distortions as means to boost economic growth and social welfare.