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New Federal Competition Law in the UAE |
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A new UAE Federal Competition Law (Federal Law No. (4) of 2012) has been published in the UAE Federal Official Gazette (the "Competition Law"). The Competition Law will come into force on 23 February 2013
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A new UAE Federal Competition Law (Federal Law No. (4) of 2012) has been published in the UAE Federal Official Gazette (the "Competition Law"). The Competition Law will come into force on 23 February 2013.
The Competition Law aims to protect and enhance competition and combat monopolistic practices by prohibiting activity constituting an abuse of dominant market position, prohibiting restrictive agreements above a certain de minimis and regulating economic activity (including mergers and acquisitions) which will result in an enterprise attaining a dominant market position.
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