Athenkosi Mvane
The Competition Commission of South Africa hosted a media breakfast in Cape Town
They discussed the Promulgation of the Competition Act, which the Commission had welcomed.
The Act was signed by President Jacob Zuma on August 28th 2012 , and provides the Competition Commission with formal powers to conduct market inquiries.
Divisional Manager Trudi Makhaya said that the Competition Act sets up the institution, it gives it specific functions and the Commission has to conduct itself within those functions.
“Across the Act there are standards; in terms of evaluating mergers for example, we evaluate the standards, and we can only prohibit it if it leads to a substantial lessening of competition, or if it can be justified on public interest grounds” Makhaya added.
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