Angola will have a Regulatory Competition Authority, which will be charged with preventing and sanctioning actions of economic agents that do not comply with the rules and principles of competition under the proposed Competition Law, which will be discussed at the next plenary session of the Angolan parliament, state news agency Angop reported.
The Regulatory Competition Authority will promote and defend competition and establish priorities for dealing with the issues it is called upon to analyse, according to the draft bill.
The draft bill states that the Regulatory Competition Authority should exercise its powers to apply sanctions whenever competition rules are broken.
The draft Competition Law, unanimously approved on Friday by the Constitutional and Legal Affairs and Economy and Finance Committees of the National Assembly, intends to introduce for the first time a system to defend competition through a law that covers the principles and rules of sound competition, morality and ethics. (macauhub)