Bill Detail
An Act to amend the Competition Act and the Competition Tribunal Act
This enactment amends the Competition Act to increase penalties for certain anti-competitive acts. It also changes aspects of the review of mergers, including how gains in efficiency and market concentration are taken into account. In addition, it requires the Competition Tribunal to make an order dissolving a completed merger or prohibiting the merger from proceeding if the merger would result in excessive combined market share. The limitation period for the review of mergers is increased from one year to three years. Finally, it amends the Competition Tribunal Act to remove the Tribunal’s ability to award costs against the Crown.
This bill, also known as the Lowering Prices for Canadians Act, aims to strengthen competition laws. It increases penalties for anti-competitive practices, making them significantly higher for individuals and corporations, including substantial fines and longer prison sentences. The bill also changes how mergers are reviewed, giving more weight to market share and requiring the Competition Tribunal to block or dissolve mergers that create excessive market dominance, even if efficiency gains are claimed. The time limit for reviewing mergers is extended, and the Tribunal's ability to award costs against the government is removed.