Law on Competition[XV1135] (Phillips Fox)

Law on Competition[XV1135] (Phillips Fox) - Subscription 57...

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Unformatted text preview: Subscription 57 (1/2005-2006) 31 December 2005 © Allens Arthur Robinson and Ministry of Planning and Investment XV-1135 NATIONAL ASSEMBLY SOT REPUBLIC OF VIETNAM Independence - Freedom - Happiness No. 27-2004-QH11 LAW ON COMPETITION Pursuant to the 1992 Constitution of the Sot Republic of Vietnam as amended and added to by Resolution 51-2001-QH10 passed by Legislature X of the National Assembly at its 10th Session on 25 December 2001; This Law governs competition. CHAPTER I General Provisions Article 1 Scope of governance This Law governs practices in restraint of competition, unfair competitive practices, the order and procedures for resolution of competition cases, and measures for dealing with breaches of the laws on competition. Article 2 Applicable entities This Law shall apply to: 1. Organizations and individuals conducting business (hereinafter together referred to as enterprises ), including enterprises engaged in production or supply of public utility products or services, enterprises conducting business in State monopoly industries and sectors and overseas enterprises operating in Vietnam. 2. Industry associations operating in Vietnam. Subscription 57 (1/2005-2006) 31 December 2005 © Allens Arthur Robinson and Ministry of Planning and Investment XV-1136 Article 3 Interpretation of terms In this Law, the following terms shall be construed as follows: 1. Relevant market consists of relevant product market and relevant geographical market. Relevant product market means a market comprising goods or services which may be substituted for each other in terms of characteristics, use purpose and price. Relevant geographical market means a specific geographical area in which goods or services may be substituted for each other with similar competitive conditions and which area is significantly different from neighbouring areas. 2. Industry associations consist of trade associations and professional associations. 3. Practices in restraint of competition means practices of enterprises which reduce, distort or hinder competition in the market, including practices being agreements in restraint of competition, abuse of dominant market position, abuse of monopoly position and economic concentration. 4. Unfair competitive practices means competitive practices by an enterprise during the business process which are contrary to general standards of business ethics and which cause or may cause damage to the interests of the State and/or to the legitimate rights and interests of other enterprises or of consumers. 5. Market share of an enterprise with respect to a certain type of goods or services means the percentage of turnover from sales of such enterprise over the total turnover of all enterprises conducting business in such type of goods or services in the relevant market or the percentage of turnover of inwards purchases of such enterprise over the total turnover of inwards purchases of all enterprises conducting business in such type of goods or...
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Law on Competition[XV1135] (Phillips Fox) - Subscription 57...

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