-Establishment of the National Competition Authority Act 571AER-

==DEFINITION==
An Act to establish a non-ministerial government department in charge of investigating and regulating monopolies, mergers and competition within the country.
==Establishment of the National Competition Authority Act 571AER==
Be it enacted by the Emperor's most Excellent Majesty, Vinther III, by and with the advice and consent of the Chamber of Deputies and the Imperial Senate, in this present Parliament assembled, and by the authority of the same, as follows:--
==CLAUSE 1: ESTABLISHMENT OF THE NCA==
*(1) There is to be a body corporate known as the National Competition Authority.
*(2) In this bill, that body is referred to as "the NCA".
*(3) The NCA must seek to promote competition within Falleentium for the benefit of consumers.
*(4) The nature of the matters with which the NCA shall deal has rendered direct political oversight over the agency as unnecessary and inappropriate. Hence, the NCA shall be headed by a senior civil servant independent from a mininisterial cabinet department.
==CLAUSE 2: DUTIES==
In situations where competition could be unfair or consumer choice may be affected to the detriment of the general public and the Falleen economy, the NCA is responsible for:
*(1) investigating mergers between businesses of any size;
*(2) conducting market studies;
*(3) investigating possible breaches of anti-competitive agreements;
*(4) prosecute companies which engage in restrictive practices operating within Falleentium that distort, restrict or prevent competition.
**a) These are, among others, primarily in the form of horizontal agreements (agreements to collude between firms on the same level of the supply chain such as retailers or wholesalers). These agreements include, among others, to limit output, collusively share information, fix prices, tender collectively and share markets out.
*(5) giving exemptions for prohibition of mergers as long as the firm can demonstrate that these practices are primarily in the interest of the consumer through increasing market effiiciencies or advancing technical progress;
*(6) investigate and take legal action against cases of abuse by firms who use practices such as predatory pricing, excessive prices, refusal to supply, vertical restraints (opposite of horizontal agreements, vertical restraints involve firms/individuals at different levels of the production and distribution process.) and price discrimination to maximise profit, gain competitive advantage or otherwise restrict competition;
*(7) bringing criminal proceedings against individuals who commit cartels offences;
*(8) enforcing consumer protection legislation; and
*(9) considering regulatory references and appeals.
==CLAUSE 3: LEADERSHIP==
The NCA shall be headed by a board of 13 members, 5 of which shall serve as a senior executive team and are appointed by the Imperial Chancellor in agreement with the Department of Economic Affairs.
*- Chair of the NCA
*- Acting Chief Executive
*- Executive Director, Enforcement
*- Executive Director, Markets and Mergers
*- Executive Director, Corporate Services
*- Non-executive Director 
*- Non-executive Director 
*- Non-executive Director 
*- Non-executive Director 
*- Non-executive Director, Panel Chair
*- Non-executive Director, Panel Member
*- Chief Economic Adviser
*- General Counsel
Category:The Institute of Laws and Regulations