I was tasked to write a news article in our school publication last semester. The theme has something to do with âChangeâ. I can barely remember. So hereâs what I wrote but subject to further furnishing by the News Article Editor and the EIC. :)
An Act for a Fair Play
        Republic Act 10667, otherwise known as, âPhilippine Competition Actâ (RA 10667 for brevity) was enacted last July 21, 2015. This measure aims to promote several constitutional mandates in relation to the economic state; the enhancement of economic efficiency and to promote free and fair competition in trade, industry and all commercial economic activities, among others.
        The Philippine Competition Commission (PCC), an attached agency, was created to implement rules and regulations for national competition policy which must be germane to the objectives of RA 10667. Furthermore, as an administrative body, it is tasked to adjudicate administrative proceedings in the exercise of its quasi-judicial functions. Â
        RA 10667 prohibits those acts that will substantially prevent, restrict, lessen competition in the relevant market. Thus, it provides prohibitions and their respective sanctions and penalties, to wit: First, Anti-Competitive Agreements which, under the law, refers to the agreements between or among competitors in restricting competition as to price, or components, or other terms of trade and in fixing price at an auction or any form of bidding, including over-bidding, bid suppression, bid rotation and market allocation, bid manipulation; Second, Abuse of Dominant Position which prevents one or more entities to abuse their dominant position by engaging in conducts as enumerated in Section 15 of this law; and Third, Mergers and Acquisitions which prohibits the parties from consummating their agreement until thirty (30) days after providing notification to the Commission. The violators of this law shall be sanctioned criminally, civilly or administratively, as the case may be.
        Indeed, with the unfaltering efforts and perseverance of the members of the Congress, the passage of relevant statutes will rightfully fall into place in due time.
