Wednesday, June 25, 2008

The Oman Law Digest 2009 - MONOPOLIES, RESTRAINT OF TRADE AND COMPETITION

Law of Commerce [RD 55/90] and Law of Commercial Trademark, Data, Trade Secrets and Protection Against Unfair Competition Law [RD 38/00] prohibits dissemination of misleading information or information inconsistent with facts in relation to origin or nature of goods or any other trade matter, with intention to draw away clientele of competitor. Other sector specific laws have related provisions on restraint of trade and competition. Consumer Protection Law [RD 81/02] requires the Government to curtail monopolies or over-dominance in the market but does not specify what action must be taken and vests discretion in the relevant Minister to formulate rules. The Law also requires the issuance of rules for controlling excessive price increases and prohibits suppliers from hoarding commodities which would result in an artificial price rise. Although there is no separate competition authority in Oman, the Law is implemented by the MCI.