Library / PETROLEUM INDUSTRY ACT, NO. 6, 2021 MIDSTREAM AND DOWNSTREAM PETROLEUM PREVENTION OF ANTICOMPETITIVE PRACTICES AND BEHAVIOUR REGULATIONS, 2026 ARRANGEMENT OF REGULATIONS
PETROLEUM INDUSTRY ACT, NO. 6, 2021 MIDSTREAM AND DOWNSTREAM PETROLEUM PREVENTION OF ANTICOMPETITIVE PRACTICES AND BEHAVIOUR REGULATIONS, 2026 ARRANGEMENT OF REGULATIONS
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60. Assessment Criteria for Preserving or Promoting Benefits of a Functional and
Effective Competitive Market
In assessing this criterion, the Authority shall consider whether the proposed
conduct is necessary to:
(a) Prevent the failure of an undertaking whose exit from the market would
lead to a significant deterioration of market conditions (failing firm defence) or
create microeconomic instability, provided there are no less anti-competitive
alternatives.
(b) Enable collaborations that generate significant efficiencies (e.g., cost
savings, improved quality, innovation) that are likely to be passed on to
consumers and could not be achieved through less anti-competitive means,
and where such efficiencies outweigh the competitive harm.
(c) Address specific market failures that impede the proper functioning of the
market.
61. Procedure for Review and Determination of Applications
(1) Upon receipt of a complete application, the Authority shall acknowledge
it within 30 working days.
(2) The Authority may publish a summary of the application (excluding
commercially sensitive information) and invite comments from interested third
parties within a specified period of 21 working days.
(3) The Authority shall conduct a thorough review, which may involve
requesting additional information, consulting with other government agencies
and conducting its own economic analysis.
(4) Where a dual exemption is required under the Federal Competition and
Consumer Protection Act, the Authority shall advise the applicant accordingly
and coordinate with the Federal Competition and Consumer Protection
Commission to prevent jurisdictional inconsistencies.
(5) The burden of proof to demonstrate that the criteria for approval are met
lies with the applicant.
(6) The Authority shall make a determination on the application within 90
working days of receiving a complete application, or such longer period as
may be notified to the applicant with reasons.
(7) The decision of the Authority shall be in writing and provide reasons.
62. Grant of Written Approval and Imposition of Terms and Conditions
(1) If the Authority grants approval, it shall be in writing and may be subject to
such terms and conditions as the Authority deems appropriate.
(2) Conditions may include, but are not limited to:
(a) Duration of the approval.
(b) Price controls or caps.
(c) Supply obligations.
(d) Requirements for transparency.
(e) Measures to mitigate negative impacts on competitors or consumers.
(f) Commitments regarding investment or service levels.
(g) Divestiture of certain assets or operations.
(h) Information sharing firewalls or separation undertakings
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