What the Competition Amendment Bill means for the economy

Cape Town-based intellectual property law Adams and Adams Attorneys on Thursday welcomed the signing of the Competition Amendment Bill into law by President Cyril Ramaphosa.  Ramaphosa on Wednesday signed the Competition Amendment Bill into law which he said will be a boost for SMEs and economic inclusion, and would open up the economy to fresh investment and innovation.   Ramaphosa said the Bill also provides a clear mandate to the competition authorities to address economic concentration in a balanced manner and to promote economic transformation, and provides clarity to firms and investors on prohibited practices and what constitutes abuse of dominance.