Page 551 - MOE ENGLISH PR REPORT - JULY 2024

7/15/24, 3:24 PM Ministry Of Economy Reviews New Competition Regulation Law And Its Role In Developing Regulatory & Legislative Frameworks T…
empowering the establishment or a group of establishments to directly or indirectly control
another establishment or group of establishments.

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.

Responsibilities of Competition Regulation Committee

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 scrutinizing
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.

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