The Federal Competition And Consumer Protection Act 2019 The Need For

The Federal Competition And Consumer Protection Act 2019 The Need For However, with the assent of the president of federal republic of nigeria to the federal competition and consumer protection act, 2019 (the “ fccp act ”) on 30 january 2019, a comprehensive legal framework for the regulation of competition and anti trust issues in nigeria has been established. this legislation has been modelled, to a great. The federal trade commission held a series of public hearings during the fall 2018 spring 2019 examining whether broad based changes in the economy, evolving business practices, new technologies, or international developments might require adjustments to competition and consumer protection law, enforcement priorities, and policy.

The Consumer Protection Act 2019 Corpbiz The federal competition and consumer protection act 2018; (the fccpa), the legal and regulatory framework on competition in nigeria was fragmented. previously existing laws on competition such as the investments and securities act 2007, the electric power sector reform act 2005 and the nigerian communications act 2003 were largely sector specific. On the 5th of february 2019, president muhammadu buhari assented to the federal competition and consumer protection act (“fccpa” or “the act”). [1] the fccpa repeals the consumer protection council act (the “cpc act”), cap c25, lfn, 2004 and sections 118 128 of the investment and securities act, capi24 laws of the federation of. The act establishes the competition and consumer protection tribunal which is vested with the powers to adjudicate over matters arising from conducts prohibited under the act. the act empowers the tribunal to hear appeals from or review the decisions of the fccpc and any other sector specific regulatory authority in a regulated industry, in. Prior to the enactment of the federal competition and consumer protection act (fccpa) 2019, it was the consumer protection act that had a restrictive protection of consumers. however, the fccpa broaden the extent of the protection and even establishes the federal competition and consumer protection commission as well as the consumer protection.

Note On The Federal Competition And Consumer Protection Act 2019 The act establishes the competition and consumer protection tribunal which is vested with the powers to adjudicate over matters arising from conducts prohibited under the act. the act empowers the tribunal to hear appeals from or review the decisions of the fccpc and any other sector specific regulatory authority in a regulated industry, in. Prior to the enactment of the federal competition and consumer protection act (fccpa) 2019, it was the consumer protection act that had a restrictive protection of consumers. however, the fccpa broaden the extent of the protection and even establishes the federal competition and consumer protection commission as well as the consumer protection. Historically, there has been a dearth of a comprehensive antitrust and competition legislation in nigeria. prior to the enactment of the federal competition and consumer protection act, 2019 (“fccp act” or the “act”), the investment and securities act, 2007 (“isa”) had some anti trust provisions which gave the securities and exchange commission (“sec”) power to regulate. This piece examines the new act and discusses key provisions implications in the act that are relevant to merger transactions in nigeria. general overview of the federal competition and consumer protection act 2019. the act aims at promoting a competitive market and protecting consumer rights in nigeria.