A separate Monopolies and Mergers Commission is being spun off from the new Consumer Protection Act, Fair Trading Commission (FTC) officials said.
Modelled on similar anti-trust legislation in other countries, the new Consumer Protection legislation is being split into two, with mergers and monopolies under a separate authority.rn
rnIn theory, the new commission will be given more teeth in dealing with monopoly and merger issues, which currently is under the FTC.rn
rnBut while the policy decision is in place, and the consumer protection bill has already been amended, a committee is yet to be appointed to draw up a plan of action, draft the necessary legislation and work out a structure for the commission.rn
rnThe FTC, which investigates monopoly and merger issues, is still restricted in function by the provisions in the Act, from inadequate definitions to the lquote prescribed percentage test used to determine monopolies. rn
rnThe focus is first on fast-tracking consumer protection legislation