New UAE Competition Law: Don't Forget About the Price Tag
Type
E-journal
Date
17 Jan 2013
Jurisdiction
United Arab Emirates
Taxonomy
Abuse of Dominant Position & Monopolies, Agreements, Enforcement of Competition Law, Mergers & Acquisitions, Exemptions, Changes to Market Definition and Analysis Guidance
Copyright
LexisNexis
Relevant company
Hadef & Partners
Legal reference
Federal Law No. 18/1981, Federal Law No. 24/2006, Federal Law No. 4/2012
Analysis
Towards the end of 2011, Hadef's Omar Al Heloo discussed the development of UAE competition law and, in his article, Rules of Competition: New Field To Compete, explored some possible effects on the legal sector and impacts on investment into the region. Now Victoria Woods takes a closer look at some aspects of the UAE's new Competition Law.
In Brief:
• The UAE's new Competition Law comes into force on 23 February 2013
• Historically, the Consumer Protection Law provided some protection for end consumers against unethical business practices - this is unaffected by the new law.
• The new Competition Law deems any arrangement to specify prices for goods or services to be a “restrictive agreement”, barred under the new law however there are several ways that restrictive agreements between agents and principals could, in practice, be allowed as discussed in this article.