Seanad debates

Wednesday, 2 April 2003

Humanitarian Crisis in Iraq: Statements. - Regulatory Reform: Motion.

 

In the important area of enforcement, enhanced powers were given to the Competition Authority. There are increased jail terms from two years to five years for so-called "hard core" competition offences, such as price-fixing and market-sharing. Powers of arrest and detention were also introduced. Responsibility for deciding upon mergers, other than media mergers, was transferred from my Department to the Competition Authority on 1 January last, with decisions on non-media mergers being based solely on competition criteria. The Act also gives the Authority a clear advocacy role regarding measures necessary to improve competition in markets by way of structural and regulatory changes. To complement improvements in the law, the resources, both staff and financial, of the Competition Authority have been significantly improved.

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