WebJul 1, 2024 · The ICCC can grant clearance if it is satisfied that the proposed acquisition will not result in a substantial lessening of competition (section 81, ICCC Act). If the acquisition may result in a substantial lessening of competition, the ICCC can still permit it if there will be a positive benefit to the public ( section 82, ICCC Act ). WebMar 29, 2024 · THE INDEPENDENT Consumer and Competition Commission have received the authorisation application from Kina Securities Limited (Kina Securities) on 17th March, 2024. Kina Securities is seeking authorisation from the ICCC to acquire 89.91 per cent of shares in Westpac Bank (PNG) Limited (Westpac PNG). This proposed acquisition was …
Amendments To The Independent Consumer And Competition Act …
WebS.50 of the ICCC Act prohibits contracts, arrangements or understandings that have the purpose, or have or is likely to have the effect, of substantially lessening competition in a market. WebThe provisions of the ICCC Act apply to all businesses in Papua New Guinea including government enterprises. The ICCC Act also applies to conduct outside PNG which affects the PNG market. 22. The Commission consists of a full time Commissioner and two part time Associate Commissioners. terahvin
Independent Consumer & Competition Commission (ICCC) Graduate …
WebJan 19, 2024 · HUBERT: The ICCC regulates PNG Ports, Post PNG, MVIL and PNG Power under the ICCC Act. The ICCC Act also allows the Treasury Minister and the ICCC to issue regulatory contracts to these regulated SOEs. WebApr 6, 2024 · According to the Independent Consumer and Competition Commission (ICCC), there are still concerns with internet price regulation in the nation. Following consumer complaints over the costs of retail broadband internet services, the ICCC launched a preliminary investigation into the industry. Consumers were concerned that PNG DataCo … Webregulatory contracts pertinent to competition issued under the ICCC Act. 21.2.5 Independent Public Business Corporation The Independent Public Business Corporation (IPBC) came into being on 30 June 2002 under ... which was the National Policy on Information and Communication of Papua New Guinea, adopted in 1994. This latter policy was more ... tera hunter