New Hong Kong Antitrust Bill May Be Slow To Take Effect
By Melissa Lipman (June 14, 2012, 8:22 PM EDT) -- Hong Kong lawmakers passed the Chinese region's first-ever competition law Thursday, but attorneys cautioned it would likely take more than a year for the government to get the limited antitrust regulation into effect.
After a series of debates in recent weeks, the administrative region's Legislative Council cleared the proposal along with several amendments the government has introduced over the last eight months designed to appease worries that the law would harm smaller businesses, including eliminating the right to bring standalone private antitrust suits and requiring the soon-to-be-established Competition Commission to issue warnings before penalties for nonhardcore violations.
The passage marks a...
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