Purpose of the Competition Act in Singapore

The Competition Act was enacted to provide a generic competition law to protect consumers and businesses from anti-competitive practices of private entities.

Questions to keep in mind

• If all the employment Agencies get together and decides to increase the price of employing workers, who suffers?
• Who profits from high prices?
• Is it harmful to competition?

Competition and Consumer Commission of Singapore (CCCS)

CCCS is Singapore's competition authority. First established on 1 January 2005, it is a statutory board under the Ministry of Trade and Industry and is tasked to administer and enforce the Competition Act (Chapter 50B).

Mission: Making markets work well to create opportunities and choices for businesses and consumers in Singapore

Vision: A vibrant economy with well-functioning markets and innovative businesses.

Roles of the CCCS:

• Maintain and enhance efficient market conduct
• Promote productivity, innovation and competitiveness of markets
• Eliminate or control practices having adverse effect on competition
• Promote and sustain competition in local markets
• Promote a strong competitive culture and environment
• To be the national body representative in respect of competition matters internationally
• Advise the Government or other public authority on national needs and policies in respect of competition matters generally