10 November, 2017
On 5 October 2017, significant reforms to the Thai Competition Law took effect. These reforms, reported in the April 2017 issue (click here for further details), include:
- higher penalties of up to 10 percent of turnover (it is not yet clear how this turnover will be assessed)
- clarification that criminal sanctions can be imposed for cartel conduct and abuse of dominance
- a new mandatory merger control regime (the thresholds are still to be set)
The new competition authority is to be set up by July 2018, and the implementing regulations are to be adopted by October 2018.
The new competition authority will be able to take action against anti-competitive arrangements and abuses of dominance, which are currently taking place. It is therefore important for businesses operating in Thailand to have systems in place to ensure they comply with the new law. Mergers and acquisitions are unlikely to require to be notified until such time as the filing thresholds are promulgated. Any further developments will be reported in the next issue.
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