SCED's transcript on Competition Bill
Following is the transcript of remarks (English portion) by the Secretary for Commerce and Economic Development, Mr Gregory So, after attending the Bills Committee on Competition Bill meeting in the Legislative Council today (February 14):
Reporter: Many lawmakers are very unhappy that the TDC (Trade Development Council) is exempted. How can you justify that?
Secretary for Commerce and Economic Development: I believe that in today's Bills Committee meeting, the majority of views is that the Trade Development Council should be exempted, and I think it is very clear that is the majority view today.
Reporter: How would the Government monitor the statutory bodies exempted from the law?
Secretary for Commerce and Economic Development: As I have just explained earlier, each of these statutory bodies is formed under a piece of legislation. Under each piece of legislation, they have to be governed in accordance with the provisions of the legislation. I am sure each bureau and department will ensure that these bodies will not have anti-competitive conduct, which is precisely the purpose of the competition law. On top of that, we have a Competition Policy Advisory Group, which will oversee if there is a complaint and will deal with it proactively. In the very unlikely chance that these statutory bodies are not co-operative, we will then consider under the provisions of clause 5(2) of the Competition Bill to have them governed by the Bill to be enacted. So, we believe that with the various provisions that we have just mentioned, we can make sure that they (the statutory bodies exempted from the law) would comply with the competition principles that we have just enunciated.
(Please also refer to the Chinese portion of the transcript.)
Tuesday, February 14, 2012