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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66. Effects Terms and Conditions of Withdrawal 
(1) A decision to withdraw an approval granted under this Regulation or 
Section 211(2) of the Act may specify: 
  (a) The date on which the withdrawal becomes effective. 
(b) Any transitional arrangements necessary to unwind the approved conduct 
or agreement in an orderly manner, minimizing disruption to the market and 
consumers. 
(c) Obligations on the licensee or person to restore, to the extent practicable, 
the competitive conditions that existed prior to the approval, or to implement 
alternative measures to promote competition. 
 (d) Requirements for the licensee or person to notify affected third parties of 
the withdrawal. 
(e) Any ongoing monitoring or reporting obligations during the transition 
period. 
(2) The Authority may, where appropriate, instead of a full withdrawal, modify 
the terms and conditions of the original approval if this is sufficient to address 
the concerns leading to the review. 
 
67. Register of Exemptions 
(1) The Authority shall maintain a public register, published on its website 
and/or in the official gazette, listing all exemptions or approvals granted under 
this Regulation. 
(2) The register shall include: 
    (a) the names of parties involved; 
    (b) the general nature of the conduct; 
    (c) the decision date and expiry (if any); and 
    (d) any key conditions imposed. 
(3) The Authority may redact confidential business information, but the 
existence and scope of the exemption shall be made public. 
 
68. Prohibition of Hardcore Restrictions 
(1) No exemption shall be granted under this Regulation for any agreement or 
conduct involving: 
(a) horizontal price-fixing; 
(b) market or customer allocation; 
(c) bid-rigging among competitors; or 
(d) other conduct deemed hardcore restrictions without transferring national 
or consumer benefits under the Federal Competition and Consumer 
Protection Act or international best practices. 
(2) Such conduct remains per se unlawful and ineligible for exemption.