Page 543 - MOE ENGLISH PR REPORT - JULY 2024

The law specifies a set of conditions to complete economic concentration operations
that would affect the level of competition in the relevant market, and in particular create
or strengthen a dominant position. The relevant establishments are required to submit
an application on the form designated for this purpose to the Ministry of Economy at
least 90 days prior to the completion thereof and shall attach the required documents.

Pursuant to the new law, there are two conditions that must be satisfied in order to
successfully complete the process of economic concentration. The first condition
indicates that the total value of annual sales of such establishments in the relevant
market, for the last fiscal year, shall exceed the amount determined by the Cabinet,
upon the Minister's proposal. The second condition states that the total share of such
establishments shall exceed the percentage of the total transactions in the relevant
market during the last fiscal year, as determined by the Cabinet. The Executive
Regulation of this law establishes the controls of submitting the application for economic
concentration, the documents to be attached, and its examination mechanisms.

The law assigns new responsibilities to the Competition Regulation Committee as well.
These include proposing the general policy for protecting competition in the country and
presenting it to the Minister to take necessary actions.

The Committee is also responsible for scrutinising issues related to the application of
the provisions of this law and making recommendations thereon to the Minister.
Additionally, it will propose legislation and measures for protecting competition in the
UAE.

https://www.sharjah24.ae/en/Articles/2024/07/11/Ministry-of-Economy-reviews-new-
Competition-Regulation-law