AN ACT PROVIDING FOR A NATIONAL

COMPETITION POLICY PROHIBITING ANTICOMPETITIVE AGREEMENTS, ABUSE OF

DOMINANT POSITION AND ANTICOMPETITIVE MERGERS AND
ACQUISITIONS, ESTABLISHING THE
PHILIPPINE COMPETITION COMMISSION
AND APPROPRIATING FUNDS THEREFOR

Section 1. Short Title

Short Title. This Act shall be

known as the Philippine
Competition Act.

Section 2. Declaration of
Policy
The State recognizes that past measures
undertaken to liberalize key sectors in the
economy need to be reinforced by
measures that safeguard competitive
conditions. The State also recognizes that
the provision of equal opportunities to all
promotes
entrepreneurial
spirit,
encourages private investments, facilitates
technology development and transfer and
enhances resource productivity.

 Pursuant to the constitutional goals for the national economy to

attain a more equitable distribution of opportunities, income, and
wealth; a sustained increase in the amount of goods and services
produced by the nation for the benefit of the people; and an
expanding productivity as the key to raising the quality of life for all,
especially the underprivileged and the constitutional mandate that
the State shall regulate or prohibit monopolies when the public
interest so requires and that no combinations in restraint of trade or
unfair competition shall be allowed, the State shall:
a) Enhance economic efficiency and promote free and fair competition in
trade, industry and all commercial economic activities, as well as establish
a National Competition Policy to be implemented by the Government of
the Republic of the Philippines and all of its political agencies as a whole;
b) Prevent economic concentration which will control the production,
distribution, trade, or industry that will unduly stifle competition, lessen,
manipulate or constrict the discipline of free markets; and
c) Penalize all forms of anti-competitive agreements, abuse of dominant
position and anti-competitive mergers and acquisitions, with the objective
of protecting consumer welfare and advancing domestic and international
trade and economic development.

SECTION 3. Scope and

Application.
This Act shall be enforceable against any person or entity
engaged in any trade, industry and commerce in the
Republic of the Philippines. It shall likewise be applicable
to international trade having direct, substantial, and
reasonably foreseeable effects in trade, industry, or
commerce in the Republic of the Philippines, including
those that result from acts done outside the Republic of
the Philippines.
This Act shall not apply to the combinations or activities
of workers or employees nor to agreements or
arrangements with their employers when such
combinations, activities, agreements, or arrangements
are designed solely to facilitate collective bargaining in
respect of conditions of employment.

SECTION 4. Definition of
Terms
As used in this Act:
Acquisition refers to the purchase of
securities or assets, through contract or
other means, for the purpose of obtaining
control by:
One (1) entity of the whole or part of another;
Two (2) or more entities over another; or
One (1) or more entities over one (1) or more
entities;

 Agreement refers to any type or form of contract,

arrangement, understanding, collective
recommendation, or concerted action, whether
formal or informal, explicit or tacit, written or oral;
Conduct refers to any type or form of undertaking,
collective recommendation, independent or
concerted action or practice, whether formal or
informal;
Commission refers to the Philippine Competition
Commission created under this Act;
Confidential business information refers to
information which concerns or relates to the
operations, production, sales, shipments,
purchases, transfers, identification of customers,
inventories, or amount or source of any income,
profits, losses, expenditures;

 Control refers to the ability to substantially

influence or direct the actions or decisions of an
entity, whether by contract, agency or otherwise;
Dominant Position refers to a position of
economic strength that an entity or entities hold
which makes it capable of controlling the
relevant market independently from any or a
combination of the following: competitors,
customers, suppliers, or consumers;
Entity refers to any person, natural or juridical,
sole proprietorship, partnership, combination or
association in any form, whether incorporated or
not, domestic or foreign, including those owned
or controlled by the government, engaged
directly or indirectly in any economic activity;

 Market refers to the group of goods or

services that are sufficiently
interchangeable or substitutable and the
object of competition, and the geographic
area where said goods or services are
offered;
Merger refers to the joining of two (2) or
more entities into an existing entity or to
form a new entity;

 Relevant Market refers to the market in which a

particular good or service is sold and which is a
combination of the relevant product market and the
relevant geographic market, defined as follows:
1. A relevant product market comprises all those
goods and/or services which are regarded as
interchangeable or substitutable by the consumer or
the customer, by reason of the goods and/or
services characteristics, their prices and their
intended use; and
2. The relevant geographic market comprises the
area in which the entity concerned is involved in the
supply and demand of goods and services, in which
the conditions of competition are sufficiently
homogenous and which can be distinguished from
neighboring areas because the conditions of
competition are different in those areas.

CHAPTER II
PHILIPPINE COMPETITION
COMMISSION

SECTION 5. Philippine
Competition Commission
To implement the national competition policy and attain
the objectives and purposes of this Act, an independent
quasi-judicial body is hereby created, which shall be
known as the Philippine Competition Commission (PCC),
hereinafter referred to as the Commission. Upon
establishment of the Commission, Executive Order No.
45 designating the Department of Justice as the
Competition Authority is hereby amended. The Office for
Competition (OFC) under the Office of the Secretary of
Justice shall however be retained, with its powers and
functions modified pursuant to Section 13 of this
Chapter.
The Commission shall be an attached agency to the
Office of the President.

SECTION 6. Composition of the

Commission
The Commission shall be composed of a
Chairperson and four (4) Commissioners.
The Chairperson and Commissioners must be:
citizens and residents of the Philippines;
of good moral character, of recognized probity
and independence;
and must have distinguished themselves
professionally in public, civic or academic service
in any of the following fields: economics, law,
finance, commerce or engineering;
must have been in the active practice of their
professions for at least ten (10) years

 and must not have been candidates for any

elective national or local office in the
immediately preceding elections, whether
regular or special

Provided, That at least one (1) shall be a

member of the Philippine Bar with at least
ten (10) years of experience in the active
practice of law, and at least one (1) shall
be an economist. The Chairperson and
the Commissioners who shall have the
rank equivalent of cabinet secretary and
undersecretary, respectively, shall be
appointed by the President.

SECTION 7. Term of Office

The term of office of the Chairperson and the
Commissioners shall be seven (7) years without
reappointment. Of the first set of appointees, the
Chairperson shall hold office for seven (7) years and of the
first four (4) Commissioners, two (2) shall hold office for a
term of seven (7) years and two (2) for a term of five (5)
years. In case a vacancy occurs before the expiration of
the term of office, the appointment to such vacancy shall
only be for the unexpired term of the predecessor.
The Chairperson and the Commissioners shall enjoy
security of tenure and shall not be suspended or removed
from office except for just cause as provided by law.

SECTION 8. Prohibitions and

Disqualifications
The Commissioners shall not, during their tenure:
hold any other office or employment.
directly or indirectly practice any profession, except in a teaching
capacity, participate in any business, or
be financially interested in any contract with, or any franchise, or
special privileges granted by the government or any subdivision,
agency, or instrumentality thereof, including government-owned
and-controlled corporations or their subsidiaries.

They shall:
strictly avoid conflict of interest in the conduct of their office
not be qualified to run for any office in the election immediately
succeeding their cessation from office. Provided, that the
election mentioned hereof is not a Barangay election or a
Sangguniang Kabataan election.
shall not be allowed to personally appear or practice as counsel
or agent on any matter pending before the Commission for two
(2) years following their cessation from office.

 No spouse or relative by consanguinity or

affinity within the fourth civil degree of
any of the Commissioners, the
Chairperson and the Executive Director of
the Commission may appear as counsel
or agent on any matter pending before
the Commission or transact business
directly or indirectly therein during
incumbency and within two (2) years
from cessation of office

SECTION 10. Quorum

Three (3) members of the Commission
shall constitute a quorum and the
affirmative vote of three (3) members
shall be necessary for the adoption of any
rule, ruling, order, resolution, decision or
other acts of the Commission.

SECTION 12. Powers and

Functions

The Commission shall have original and primary jurisdiction

over the enforcement and implementation of the provisions of
this Act, and its implementing rules and regulations. The
Commission shall exercise the following powers and functions:
a) Conduct inquiry, investigate, and hear and decide on cases
involving any violation of this Act and other existing
competition laws motu proprio or upon receipt of a verified
complaint from an interested party or upon referral by the
concerned regulatory agency, and institute the appropriate
civil or criminal proceedings;
b) Review proposed mergers and acquisitions, determine
thresholds for notification, determine the requirements and
procedures for notification, and upon exercise of its powers to
review, prohibit mergers and acquisitions that will
substantially prevent, restrict, or lessen competition in the
relevant market;

c) Monitor and undertake consultation with stakeholders and affected

agencies for the purpose of understanding market behavior;
d) Upon finding, based on substantial evidence, that an entity has
entered into an anti-competitive agreement or has abused its
dominant position after due notice and hearing, stop or redress the
same, by applying remedies, such as, but not limited to, issuance
of injunctions, requirement of divestment, and disgorgement of
excess profits under such reasonable parameters that shall be
prescribed by the rules and regulations implementing this Act;
e) Conduct administrative proceedings, impose sanctions, fines or
penalties for any non-compliance with or breach of this Act and its
implementing rules and regulations (IRR) and punish for contempt;
f) Issue subpoena duces tecum and subpoena ad testificandum to
require the production of books, records, or other documents or
data which relate to any matter relevant to the investigation and
personal appearance before the Commission, summon witnesses,
administer oaths, and issue interim orders such as show cause
orders and cease and desist orders after due notice and hearing in
accordance with the rules and regulations implementing this Act;

h) Upon order of the court, undertake inspections of

business premises and other offices, land and
vehicles, as used by the entity, where it
reasonably suspects that relevant books, tax
records, or other documents which relate to any
matter relevant to the investigation are kept, in
order to prevent the removal, concealment,
tampering with, or destruction of the books,
records, or other documents;
i) Issue adjustment or divestiture orders including
orders for corporate reorganization or
divestment in the manner and under such terms
and conditions as may be prescribed in the rules
and regulations implementing this Act.
Adjustment or divestiture orders, which are
structural remedies, should only be imposed:

1) Where there is no equally effective

behavioral remedy; or
2) Where any equally effective behavioral
remedy would be more burdensome for the
enterprise concerned than the structural
remedy. Changes to the structure of an
enterprise as it existed before the
infringement was committed would only be
proportionate to the substantial risk of a
lasting or repeated infringement that derives
from the very structure of the enterprise;

i) Deputize any and all enforcement agencies of the

government or enlist the aid and support of any private
institution, corporation, entity or association, in the
implementation of its powers and functions;
j) Monitor compliance by the person or entities concerned with
the cease and desist order or consent judgment;
k) Issue advisory opinions and guidelines on competition
matters for the effective enforcement of this Act and submit
annual and special reports to Congress, including proposed
legislation for the regulation of commerce, trade, or
industry;
l) Monitor and analyze the practice of competition in markets
that affect the Philippine economy; implement and oversee
measures to promote transparency and accountability; and
ensure that prohibitions and requirements of competition
laws are adhered to;
m)Conduct, publish, and disseminate studies and reports on
anti-competitive conduct and agreements to inform and
guide the industry and consumers;

n) Intervene or participate in administrative and

regulatory proceedings requiring consideration of
the provisions of this Act that are initiated by
government agencies such as the Securities and
Exchange Commission, Energy Regulatory
Commission and the National Telecommunications
Commission;
o) Assist the National Economic and Development
Authority, in consultation with relevant agencies
and sectors, in the preparation and formulation of
a national competition policy;
p) Act as the official representative of the Philippine
government in international competition matters;
q) Promote capacity building and the sharing of best
practices with other competition-related bodies;

(r) Advocate pro-competitive policies of the

government by:
Reviewing economic and administrative
regulations, motu proprio or upon request,
as to whether or not they adversely affect
relevant market competition, and advising
the concerned agencies against such
regulations; and
Advising the Executive Branch on the
competitive implications of government
actions, policies and programs; and
(s) Charge reasonable fees to defray the
administrative cost of the services rendered

SECTION 13. Office for Competition

(OFC), Powers and Functions.
The OFC under the Department of
Justice (DOJ-OFC) shall only conduct
preliminary investigation and
undertake prosecution of all criminal
offenses arising under this act and
other competition related laws in
accordance with Section 31 of
Chapter VI of this act. The OFC shall
be reorganized and allocated
resources as may be required

CHAPTER III
PROHIBITED ACTS

 SECTION 14. Anti-Competitive Agreements.

(a) The following agreements, between or among
competitors, are per se prohibited:
1. Restricting competition as to price, or components
thereof, or other terms of trade;
2. Fixing price at an auction or in any form of bidding
including cover bidding, bid suppression, bid rotation and
market allocation and other analogous practices of bid
manipulation;
(b) The following agreements, between or among
competitors which have the object or effect of
substantially preventing, restricting or lessening
competition shall be prohibited:
3. Setting, limiting, or controlling production, markets,
technical development, or investment;
4. Dividing or sharing the market, whether by volume of
sales or purchases, territory, type of goods or services,
buyers or sellers or any other means.

(c) Agreements other than those specified in (a) and

(b) of this Section which have the object or effect of
substantially preventing, restricting or lessening
competition shall also be prohibited: Provided, Those
which contribute to improving the production or
distribution of goods and services or to promoting
technical or economic progress, while allowing
consumers a fair share of the resulting benefits, may
not necessarily be deemed a violation of this Act.
An entity that controls, is controlled by, or is under
common control with another entity or entities, have
common economic interests, and are not otherwise
able to decide or act independently of each other,
shall not be considered competitors for purposes of
this Section.

SECTION 15. Abuse of Dominant Position. It shall be

prohibited for one or more entities to abuse their
dominant position by engaging in conduct that would
substantially prevent, restrict or lessen competition:
a) Selling goods or services below cost with the object of
driving competition out of the relevant market:
Provided, That in the Commissions evaluation of this
fact, it shall consider whether the entity or entities have
no such object and the price established was in good
faith to meet or compete with the lower price of a
competitor in the same market selling the same or
comparable product or service of like quality;
b) Imposing barriers to entry or committing acts that
prevent competitors from growing within the market in
an anti-competitive manner except those that develop
in the market as a result of or arising from a superior
product or process, business acumen, or legal rights or
laws;

c) Making a transaction subject to

acceptance by the other parties of other
obligations which, by their nature or
according to commercial usage, have no
connection with the transaction;
d) Setting prices or other terms or
conditions that discriminate
unreasonably between customers or
sellers of the same goods or services,
where such customers or sellers are
contemporaneously trading on similar
terms and conditions, where the effect
may be to lessen competition

1) socialized pricing for the less fortunate sector of the economy;

2) price differential which reasonably or approximately reflect
differences in the cost of manufacture, sale, or delivery resulting
from differing methods, technical conditions, or quantities in
which the goods or services are sold or delivered to the buyers
or sellers;
3) price differential or terms of sale offered in response to the
competitive price of payments, services or changes in the
facilities furnished by a competitor; and
4) price changes in response to changing market conditions,
marketability of goods or services, or volume;

e) Imposing restrictions on the lease or contract for sale or

trade of goods or services concerning where, to whom, or
in what forms goods or services may be sold or traded,
such as fixing prices, giving preferential discounts or
rebate upon such price, or imposing conditions not to deal
with competing entities, where the object or effect of the
restrictions is to prevent, restrict or lessen competition
substantially: Provided, That nothing contained in this Act
shall prohibit or render unlawful:

(1)Permissible franchising, licensing, exclusive

merchandising or exclusive distributorship
agreements such as those which give each
party the right to unilaterally terminate the
agreement; or
(2)Agreements protecting intellectual property
rights, confidential information, or trade
secrets.

(f) Making supply of particular goods or

services dependent upon the purchase
of other goods or services from the
supplier which have no direct connection
with the main goods or services to be
supplied;

(g) Directly or indirectly imposing unfairly low purchase

prices for the goods or services of, among others,
marginalized agricultural producers, fisherfolk, micro-,
small-, medium-scale enterprises, and other
marginalized service providers and producers;
(h) Directly or indirectly imposing unfair purchase or
selling price on their competitors, customers, suppliers
or consumers, provided that prices that develop in the
market as a result of or due to a superior product or
process, business acumen or legal rights or laws shall
not be considered unfair prices; and
(i) Limiting production, markets or technical
development to the prejudice of consumers, provided
that limitations that develop in the market as a result
of or due to a superior product or process, business
acumen or legal rights or laws shall not be a violation
of this Act;

 Provided, That nothing in this Act shall be construed or

interpreted as a prohibition on having a dominant
position in a relevant market or on acquiring,
maintaining and increasing market share through
legitimate means that do not substantially prevent,
restrict or lessen competition.
Provided further, That any conduct which contributes to
improving production or distribution of goods or
services within the relevant market, or promoting
technical and economic progress while allowing
consumers a fair share of the resulting benefit may not
necessarily be considered an abuse of dominant
position.
Provided finally, That the foregoing shall not constrain
the Commission or the relevant regulator from pursuing
measures that would promote fair competition or more
competition as provided in this Act.

CHAPTER IV
MERGERS AND
ACQUISITIONS

SECTION 16. Review of Mergers and Acquisitions.

The Commission shall have the power to review Mergers
and Acquisitions based on factors deemed relevant by the
Commission.
SECTION 17. Compulsory Notification. Parties to the
merger or acquisition agreement referred to in the
preceding section wherein the value of the transaction
exceeds One Billion Pesos (P1,000,000,000.00) are
prohibited from consummating their agreement until thirty
(30) days after providing notification to the Commission in
the form and containing the information specified in the
regulations issued by the Commission: Provided, That the
Commission shall promulgate other criteria, such as
increased market share in the relevant market in excess of
minimum thresholds, that may be applied specifically to a
sector, or across some or all sectors, in determining
whether parties to a merger or acquisition shall notify the
Commission under this chapter.

 An agreement consummated in violation of this

requirement to notify the Commission shall be
considered void and subject the parties to an
administrative fine of one percent (1%) to five percent
(5%) of the value of the transaction.
Should the Commission deem it necessary, it may
request further information that are reasonably
necessary and directly relevant to the prohibition under
Section 20 hereof from the parties to the agreement
before the expiration of the thirty (30)-day period
referred. The issuance of such a request has the effect
of extending the period within which the agreement
may not be consummated for an additional sixty (60)
days, beginning on the day after the request for
information is received by the parties: Provided, That,
in no case shall the total period for review by the
Commission of the subject agreement exceed ninety
(90) days from initial notification by the parties.

 When the above periods have expired and no

decision has been promulgated for whatever
reason, the merger or acquisition shall be
deemed approved and the parties may
proceed to implement or consummate it. All
notices, documents and information provided
to or emanating from the Commission under
this section shall be subject to confidentiality
rule under Section 33 of this Act except when
the release of information contained therein
is with the consent of the notifying entity or is
mandatorily required to be disclosed by law
or by a valid order of a court of competent
jurisdiction, or of a government or regulatory
agency, including an exchange.

 In the case of the merger or acquisition of banks,

banking institutions, building and loan
associations, trust companies, insurance
companies, public utilities, educational
institutions and other special corporations
governed by special laws, a favorable or noobjection ruling by the Commission shall not be
construed as dispensing of the requirement for a
favorable recommendation by the appropriate
government agency under Section 79 of the
Corporation Code of the Philippines.
A favorable recommendation by a governmental
agency with a competition mandate shall give
rise to a disputable presumption that the
proposed merger or acquisition is not violative of
this Act.

SECTION 18. Effect of Notification. If

within the relevant periods stipulated in the
preceding Section, the Commission
determines that such agreement is
prohibited under Section 20 and does not
qualify for exemption under Section 21 of
this Chapter, the Commission may:
(a) Prohibit the implementation of the agreement;
(b) Prohibit the implementation of the agreement
unless and until it is modified by changes
specified by the Commission;
(c) Prohibit the implementation of the agreement
unless and until the pertinent party or parties
enter into legally enforceable agreements
specified by the Commission.

 SECTION 19. Notification Threshold.

The Commission shall, from time to time,
adopt and publish regulations stipulating:
a) The transaction value threshold and such
other criteria subject to the notification
requirement of Section 17 of this Act;
b) The information that must be supplied
for notified mergers or acquisition;
c) Exceptions or exemptions from the
notification requirement; and
d) Other rules relating to the notification
procedures.

SECTION 20. Prohibited Mergers and

Acquisitions. Merger or acquisition
agreements that substantially prevent,
restrict or lessen competition in the
relevant market or in the market for
goods or services as may be determined
by the Commission shall be prohibited.
SECTION 21. Exemptions from
Prohibited Mergers and Acquisitions.
Merger or acquisition agreement
prohibited under Section 20 of this
Chapter may, nonetheless, be exempt
from prohibition by the Commission when

a) The concentration has brought about or

is likely to bring about gains in
efficiencies that are greater than the
effects of any limitation on competition
that result or likely to result from the
merger or acquisition agreement; or
b) A party to the merger or acquisition
agreement is faced with actual or
imminent financial failure, and the
agreement represents the least anticompetitive arrangement among the
known alternative uses for the failing
entitys assets:

 Provided, That an entity shall not be prohibited

from continuing to own and hold the stock or
other share capital or assets of another
corporation which it acquired prior to the
approval of this Act or acquiring or maintaining
its market share in a relevant market through
such means without violating the provisions of
this Act.
Provided further, That the acquisition of the stock
or other share capital of one or more
corporations solely for investment and not used
for voting or exercising control and not to
otherwise bring about, or attempt to bring about
the prevention, restriction, or lessening of
competition in the relevant market shall not be
prohibited.

SECTION 22. Burden of Proof. The

burden of proof under Section 21 lies with
the parties seeking the exemption. A
party seeking to rely on the exemption
specified in Section 21(a) must
demonstrate that if the agreement were
not implemented, significant efficiency
gains would not be realized.
SECTION 23. Finality of Rulings on
Mergers and Acquisitions. Merger or
acquisition agreements that have
received a favorable ruling from the
Commission, except when such ruling

CHAPTER V
DISPOSITION OF CASES

SECTION 24. Relevant Market. For purposes of

determining the relevant market, the following
factors, among others affecting the substitutability
among goods or services constituting such market
and the geographic area delineating the
boundaries of the market shall be considered:
a) The possibilities of substituting the goods or services in
question, with others of domestic or foreign origin,
considering the technological possibilities, extent to
which substitutes are available to consumers and time
required for such substitution;
b) The cost of distribution of the good or service, its raw
materials, its supplements and substitutes from other
areas and abroad, considering freight, insurance,
import duties and non-tariff restrictions; the restrictions
imposed by economic agents or by their associations;
and the time required to supply the market from those
areas;

(c) The cost and probability of users or consumers

seeking other markets; and
(d) National, local or international restrictions which
limit access by users or consumers to alternate
sources of supply or the access of suppliers to
alternate consumers.
SECTION 25. Control of an Entity.- In determining
the control of an entity, the Commission may consider
the following:
Control is presumed to exist when the parent owns
directly or indirectly, through subsidiaries, more than
one half (1/2) of the voting power of an entity, unless
in exceptional circumstances, it can clearly be
demonstrated that such ownership does not
constitute control. Control also exists even when an
entity owns one half (1/2) or less of the voting power
of another entity when:

a) There is power over more than one half (1/2) of the

voting rights by virtue of an agreement with
investors;
b) There is power to direct or govern the financial and
operating policies of the entity under a statute or
agreement;
c) There is power to appoint or remove the majority
of the members of the board of directors or
equivalent governing body;
d) There is power to cast the majority votes at
meetings of the board of directors or equivalent
governing body;
e) There exists ownership over or the right to use all
or a significant part of the assets of the entity;
) There exist rights or contracts which confer decisive
influence on the decisions of the entity

SECTION 26. Determination of Anti-Competitive

Agreement or Conduct. In determining whether anticompetitive agreement or conduct has been committed, the
Commission shall:
a) Define the relevant market allegedly affected by the anticompetitive agreement or conduct, following the principles
laid out in Section 24 of this Chapter;
b) Determine if there is actual or potential adverse impact on
competition in the relevant market caused by the alleged
agreement or conduct, and if such impact is substantial and
outweighs the actual or potential efficiency gains that result
from the agreement or conduct;
c) Adopt a broad and forward-looking perspective, recognizing
future market developments, any overriding need to make the
goods or services available to consumers, the requirements of
large investments in infrastructure, the requirements of law,
and the need of our economy to respond to international
competition, but also taking account of past behavior of the
parties involved and prevailing market conditions;

d) Balance the need to ensure that competition is

not prevented or substantially restricted and the
risk that competition efficiency, productivity,
innovation, or development of priority areas or
industries in the general interest of the country
may be deterred by overzealous or undue
intervention; and
e) Assess the totality of evidence on whether it is
more likely than not that the entity has engaged
in anti-competitive agreement or conduct
including whether the entitys conduct was done
with a reasonable commercial purpose such as
but not limited to phasing out of a product or
closure of a business, or as a reasonable
commercial response to the market entry or
conduct of a competitor.

SECTION 27. Market Dominant Position. In determining

whether an entity has market dominant position for purposes
of this Act, the Commission shall consider the following:
a) The share of the entity in the relevant market and whether it is able
to fix prices unilaterally or to restrict supply in the relevant market;
b) The existence of barriers to entry and the elements which could
foreseeably alter both said barriers and the supply from
competitors;
c) The existence and power of its competitors;
d) The possibility of access by its competitors or other entities to its
sources of inputs;
e) The power of its customers to switch to other goods or services;
f) Its recent conducts; and
g) Other criteria established by the regulations of this Act.

There shall be a rebuttable presumption of market dominant

position if the market share of an entity in the relevant
market is at least fifty percent (50%), unless a new market
share threshold is determined by the Commission for that
particular sector.

 The Commission shall from time to time determine and

publish the threshold for dominant position or minimum
level of share in the relevant market that could give rise
to a presumption of dominant position. In such
determination, the Commission would consider the
structure of the relevant market, degree of integration,
access to end-users, technology and financial resources,
and other factors affecting the control of a market, as
provided in sub-sections (a) to (g) of this Section.
The Commission shall not consider the acquiring,
maintaining and increasing of market share through
legitimate means not substantially preventing,
restricting, or lessening competition in the market such
as but not limited to having superior skills, rendering
superior service, producing or distributing quality
products, having business acumen, and the enjoyment
and use of protected intellectual property rights as
violative of this Act.

SECTION 28. Forbearance. The Commission may forbear from

applying the provisions of this Act, for a limited time, in whole or
in part, in all or specific cases, on an entity or group of entities,
if in its determination:
a) Enforcement is not necessary to the attainment of the policy
objectives of this Act;
b) Forbearance will neither impede competition in the market where the
entity or group of entities seeking exemption operates nor in related
markets; and
c) Forbearance is consistent with public interest and the benefit and
welfare of the consumers.

A public hearing shall be held to assist the Commission in

making this determination.
The Commissions order exempting the relevant entity or group
of entities under this Section shall be made public. Conditions
may be attached to the forbearance if the Commission deems it
appropriate to ensure the long-term interest of consumers.
In the event that the basis for the issuance of the exemption
order ceases to be valid, the order may be withdrawn by the
Commission.

CHAPTER VI
FINES AND PENALTIES

SECTION 29. Administrative Penalties.

a) Administrative fines. In any investigation under Chapter III,
Sections 14 and 15, and Chapter IV, Sections 17 and 20 of this
Act, after due notice and hearing, the Commission may impose
the following schedule of administrative fines on any entity found
to have violated the said Sections:
First offense: Fine OF up to One Hundred Million Pesos (P100,000,000.00);
Second offense: Fine of not less than One Hundred Million Pesos
(P100,000,000.00) but not more than Two Hundred Fifty Million Pesos
(P250,000,000.00).
In fixing the amount of the fine, the Commission shall have regard to both
the gravity and the duration of the violation.

b) Failure to Comply With An Order of the Commission. An entity

which fails or refuses to comply with a ruling, order or decision
issued by the commission shall pay a penalty of not less than
Fifty Thousand Pesos (P50,000.00) up to Two Million Pesos
(P2,000,000.00) for each violation and a similar amount of
penalty for each day thereafter until the said entity fully
complies. provided that these fines shall only accrue daily
beginning forty five (45) days from the time that the said
decision, order or ruling was received.

c) Supply of Incorrect or Misleading Information. - The

Commission may likewise impose upon any entity fines of
up to One million pesos (P1,000,000.00) where,
intentionally or negligently, they supply incorrect or
misleading information in any document, application or
other paper filed with or submitted to the Commission or
supply incorrect or misleading information in an
application for a binding ruling, a proposal for a consent
judgment, proceedings relating to a show cause order, or
application for modification of the Commissions ruling,
order or approval, as the case may be.
d) Any other violations not specifically penalized under the
relevant provisions of this Act shall be penalized by a fine
of not less than Fifty Thousand Pesos (P50,000.00) up to
Two Million Pesos (P2,000,000.00).
) Provided that the schedule of fines indicated in this Section
shall be increased by the Commission every five (5) years
to maintain their real value from the time it was set.

SECTION 30. Criminal Penalties. An entity that

enters into any anti-competitive agreement as
covered by Chapter III, Section 14(a) and 14(b)
under this Act shall, for each and every violation,
be penalized by imprisonment from two (2) to
seven (7) years, and a fine of not less than Fifty
Million Pesos (P50,000,000.00) but not more than
Two Hundred Fifty Million Pesos
(P250,000,000.00). The penalty of imprisonment
shall be imposed upon the responsible officers,
and directors of the entity.
When the entities involved are juridical persons,
the penalty of imprisonment shall be imposed on
its officers, directors, or employees holding
managerial positions, who are knowingly and
willfully responsible for such violation.

CHAPTER VII
ENFORCEMENT

SECTION 31. Fact Finding; Preliminary Inquiry.

The Commission, motu proprio, or upon the filing
of a verified complaint by an interested party or
upon referral by a regulatory agency, shall have
the sole and exclusive authority to initiate and
conduct a fact-finding or preliminary inquiry for the
enforcement of this Act based on reasonable
grounds.
The Commission, after considering the statements
made, or documents or articles produced in the
course of the fact-finding or preliminary inquiry,
shall terminate the same by:
a) Issuing a resolution ordering its closure if no violation
or infringement of this Act is found; or
b) Issuing a resolution to proceed, on the basis of
reasonable grounds, to the conduct of a full
administrative investigation.

 The Commission, after due notice and hearing,

and on the basis of facts and evidence
presented, may issue an order for the temporary
cessation or desistance from the performance of
certain acts by the respondent entity, the
continued performance of which would result in
a material and adverse effect on consumers or
competition in the relevant market.
If the evidence so warrants, the Commission
may file before the DOJ criminal complaints for
violations of this Act or relevant laws for
preliminary investigation and prosecution before
the proper court. The DOJ shall conduct such
preliminary investigation in accordance with the
revised rules of criminal procedure.

 The preliminary inquiry shall, in all cases,

be completed by the Commission within
ninety (90) days from submission of the
verified complaint, referral, or date of
initiation by the Commission, motu
proprio, of the same.
Except as provided in Section 12 (i) of
Chapter II of this Act, no law enforcement
agency shall conduct any kind of factfinding, inquiry or investigation into any
competition related matters.

SECTION 32. Relationship With Sector

Regulators. The Commission shall have original
and primary jurisdiction in the enforcement and
regulation of all competition-related issues.
The Commission shall still have jurisdiction if the
issue involves both competition and
noncompetition issues, but the concerned sector
regulator shall be consulted and afforded
reasonable opportunity to submit its own opinion
and recommendation on the matter before the
Commission makes a decision on any case.
Where appropriate, the Commission and the sector
regulators shall work together to issue rules and
regulations to promote competition, protect
consumers, and prevent abuse of market power by
dominant players within their respective sectors.

 SECTION 33. Power to Investigate and

Enforce Orders and Resolutions.
The Commission shall conduct inquiries
by administering oaths, issuing subpoena
duces tecum and summoning witnesses,
and commissioning consultants or
experts. It shall determine if any provision
of this Act has been violated, enforce its
orders and carry out its resolutions by
making use of any available means,
provisional or otherwise, under existing
laws and procedures including the power
to punish for contempt and to impose
fines.

SECTION 34. Confidentiality of Information. Confidential

business information submitted by entities, relevant to any inquiry
or investigation being conducted pursuant to this Act as well as
any deliberation in relation thereto, shall not, in any manner, be
directly or indirectly disclosed, published, transferred, copied, or
disseminated. Likewise, the Commission shall, to the extent
possible, subject such information to the confidentiality rule
provided under this section when it issues notices, bulletins,
rulings and other documents: Provided, That the confidentiality
rule shall not apply if the notifying entity consents to the
disclosure, or the document or information is mandatorily required
to be disclosed by law or by a valid order of a court of competent
jurisdiction or of a government or regulatory agency, including an
exchange. The identity of the persons who provide information to
the Commission under condition of anonymity, shall remain
confidential, unless such confidentiality is expressly waived by
these persons.
Any violation of this provision shall be imposed a fine of not less
than One million pesos (P1,000,000.00) but not more than Five
million pesos (P5,000,000.00).

SECTION 35. Leniency Program. The

Commission shall develop a Leniency
Program to be granted to any entity in
the form of immunity from suit or
reduction of any fine which would
otherwise be imposed on a participant in
an anti-competitive agreement as
provided in Section 14(a) and 14(b) of
this Act in exchange for the voluntary
disclosure of information regarding such
an agreement which satisfies specific
criteria prior to or during the fact finding
or preliminary inquiry stage of the case.

 Immunity from suit will be granted to an entity reporting

illegal anti-competitive activity before a fact finding or
preliminary inquiry has begun if the following conditions
are met:
a) At the time the entity comes forward, the Commission has not
received information about the activity from any other source;
b) Upon the entitys discovery of illegal activity, it took prompt and
effective action to terminate its participation therein;
c) The entity reports the wrongdoing with candor and completeness
and provides full, continuing, and complete cooperation
throughout the investigation; and
d) The entity did not coerce another party to participate in the
activity and clearly was not the leader in, or the originator of, the
activity.

Even after the Commission has received information about

the illegal activity after a fact finding or preliminary inquiry
has commenced, the reporting entity will be granted
leniency, provided preceding conditions (b) and (c) and the
following additional requirements are complied with:

The entity is the first to come forward and qualify for

leniency;
ii. At the time the entity comes forward, the Commission
does not have evidence against the entity that is likely to
result in a sustainable conviction; and
iii. The Commission determines that granting leniency would
not be unfair to others.
i.

Such program shall include the immunity from any

suit or charge of affected parties and third parties,
exemption, waiver, or gradation of fines and/or
penalties giving precedence to the entity submitting
such evidence. An entity cooperating or furnishing
information, document or data to the Commission in
connection to an investigation being conducted shall
not be subjected to any form of reprisal or
discrimination. Such reprisal or discrimination shall
be considered a violation of this Act subject to the
sanctions provided in this Act.

 Nothing in this Section shall preclude

prosecution for entities that report to the
Commission false, misleading, or malicious
information, data or documents damaging to
the business or integrity of the entities under
inquiry as a violation of said Section. An entity
found to have reported false, misleading or
malicious information, data, or document may
be penalized by a fine not less than the penalty
imposed in the Section reported to have been
violated by the entity complained of.
The DOJ-OFC may likewise grant leniency or
immunity as provided in this Section in the
event that there is already a preliminary
investigation pending before it.

SECTION 36. Nolo Contendere. An entity

charged in a criminal proceeding pursuant to
Section 14(a) and 14(b) of this Act may enter a
plea of Nolo Contendere, in which he does not
accept nor deny responsibility for the charges
but agrees to accept punishment as if he had
pleaded guilty. The plea cannot be used against
the defendant entity to prove liability in a civil
suit arising from the criminal action nor in
another cause of action: Provided, That a plea
of Nolo Contendere may be entered only up to
arraignment and subsequently, only with the
permission of the court which shall accept it
only after weighing its effect on the parties, the
public and the administration of justice.

 SECTION 37. Non-Adversarial Remedies. - As an

implementing and enforcement policy, the Commission
shall, under such rules and regulations it may prescribe,
encourage voluntary compliance with this Act and other
competition laws by making available to the parties
concerned the following and other analogous nonadversarial administrative remedies, before the
institution of administrative, civil or criminal action:
a) Binding Ruling. Where no prior complaint or investigation
has been initiated, any entity that is in doubt as to whether
a contemplated act, course of conduct, agreement, OR
decision, is in compliance with, is exempt from, or is in
violation of any of the provisions of this Act, other
competition laws, or implementing rules and regulations
thereof, may request the Commission, in writing, to render a
binding ruling thereon; Provided that the ruling is for a
specified period, subject to extension as may be determined
by the commission, and based on substantial evidence.

 In the event of an adverse binding ruling on an act, course or

conduct, agreement, or decision, the applicant shall be provided
with a reasonable period, which in no case shall be more than
ninety (90) days, to abide by the ruling of the Commission and
shall not be subject to administrative, civil, or criminal action
unless the applicant fails to comply with the provisions of this Act;
b) Show Cause Order.- Upon preliminary findings motu proprio or
on written complaint under oath by an interested party that any
entity is conducting its business, in whole or in part in a manner
that may not be in accord with the provisions of this Act or other
competition laws, and it finds that the issuance of a show cause
order would be in the interest of the public, the commission
shall issue and serve upon such entity or entities a written
description of its business conduct complained of, a statement
of the facts, data, and information together with a summary of
the evidence thereof, with an order requiring the said entity or
entities to show cause, within the period therein fixed, why no
order shall issue requiring such person or persons to cease and
desist from continuing with its identified business conduct, or
pay the administrative fine therein specified, or readjust its
business conduct or practices;

c) Consent Order. At any time prior to the conclusion by

the commission of its inquiry, any entity under inquiry
may, without in any manner admitting a violation of this
Act or any other competition laws, submit to the
commission a written proposal for the entry of a consent
order, specifying therein the terms and conditions of the
proposed consent order which shall include among
others the following:
1) The payment of an amount within the range of fines provided
for under this Act;
2) The required compliance report as well as an entity to submit
regular compliance reports;
3) Payment of damages to any private party/parties who may have
suffered injury; and
4) Other terms and conditions that the Commission deems
appropriate and necessary for the effective enforcement of this
Act or other Competition Laws.

Provided, That a consent order shall not bar any

inquiry for the same or similar acts if continued or
repeated;

d) Monitoring of Compliance.- The Commission shall monitor the

compliance by the entity or entities concerned, their officers,
and employees, with the final and executory binding ruling,
cease and desist order, or approval of a consent judgment. upon
motion of an interested party/parties, the commission shall
issue a certification or resolution to the effect that the entity or
entities concerned have, or have not, as the case may be,
complied with a final and executory ruling, order, or approval.
e) Inadmissibility of Evidence in Criminal Proceedings.- The
request for a binding ruling, the show cause order, or the
proposal for consent order; the facts, data, and information
therein contained or subsequently supplied by the entity or
entities concerned; admissions, oral or written, made by them
against their interest; all other documents filed by them,
including their evidence presented in the proceedings before the
Commission; and the judgment or order rendered thereon; shall
not be admissible as evidence in any criminal proceedings
arising from the same act subject of the binding ruling, show
cause order or consent order against such entity or entities,
their officers, employees, and agents.

SECTION 38. Contempt. The Commission may

summarily punish for contempt by imprisonment
not exceeding thirty (30) days or by a fine not
exceeding one hundred thousand pesos
(P100,000.00), or both, any entity guilty of such
misconduct in the presence of the commission in
its vicinity as to seriously interrupt any hearing,
session or any proceedings before it, including
cases in which an entity willfully fails or refuses,
without just cause, to comply with a summons,
subpoena or subpoena duces tecum legally
issued by the commission being present at a
hearing, proceeding, session or investigation,
refused to be sworn as a witness or to answer
questions or to furnish information when lawfully
required to do so.

SECTION 39. Appeals of the Decisions of the

Commission. Decisions of the Commission shall be
appealable to the Court of Appeals in accordance with the
Rules of Court. The appeal shall not stay the order, ruling or
decision sought to be reviewed, unless the Court of Appeals
shall direct otherwise upon such terms and conditions it
may deem just. In the appeal, the Commission shall be
included as a party respondent to the case.
SECTION 40. Writ of Execution. Upon the finality of its
binding ruling, order, resolution, decision, judgment, or rule
or regulation, collectively, the Commission may issue a writ
of execution to enforce its decision and the payment of the
administrative fines provided in the preceding sections.
SECTION 41. Basic Necessities and Prime Commodities.
If the violation involves the trade or movement of basic
necessities and prime commodities as defined by RA 7581,
as amended, the fine imposed by the Commission or the
courts, as the case may be, shall be tripled.

 SECTION 42. Immunity from Suit. - The chairperson, the

commissioners, officers, employees and agents of the
Commission shall not be subject to any action, claim or
demand in connection with any act done or omitted by
them in the performance of their duties and exercise of
their powers except for those actions and omissions done
in evident bad faith or gross negligence.
SECTION 43. Indemnity. Unless the actions of the
Commission or its Chairperson, any of its commissioners,
officers, employees and agents are found to be in willful
violation of this Act, performed with evident bad faith or
gross negligence, the Commission, its chairperson,
commissioners, officers, employees and agents are held
free and harmless to the fullest extent permitted by law
from any liability, and they shall be indemnified for any and
all liabilities, losses, claims, demands, damages,
deficiencies, costs and expenses of whatsoever kind and
nature that may arise in connection with the exercise of
their powers and performance of their duties and functions.

 The Commission shall underwrite or advance litigation costs and

expenses, including legal fees and other expenses of external
counsel, or provide legal assistance to its Chairperson,
Commissioners, officers, employees, or agents in connection with
any civil, criminal, administrative or any other action or
proceeding, to which they are made a party by reason of, or in
connection with, the exercise of authority or performance of duties
and functions under this Act: Provided, That such legal protection
shall not apply to any civil, criminal, administrative, or any action
or proceeding that may be initiated by the Commission, against
such Chairperson, Commissioner or staff: Provided, further, That
the Chairperson, Commissioners, officers, employees, or agents
who shall resign, retire, transfer to another agency or be separated
from the service, shall continue to be provided with such legal
protection in connection with any act done or omitted to be done
by them in good faith during their tenure or employment with the
Commission: Provided, finally, That in the event of a settlement or
compromise, indemnification shall be provided only in connection
with such matters covered by the settlement as to which the
Commission is advised by counsel that the persons to be
indemnified did not commit any negligence or misconduct.

 The costs and expenses incurred in

defending the aforementioned action, suit
or proceeding may be paid by the
Commission in advance of the final
disposition of such action, suit or
proceeding upon receipt of an
undertaking by or on behalf of the
Chairperson, Commissioner, officer,
employee or agent to repay the amount
advanced should it ultimately be
determined by the Commission that one
is not entitled to be indemnified as
provided in this section.

SECTION 44. Jurisdiction of the Regional Trial Court. The

Regional Trial Court of the city or province where the entity or
any of the entities whose business act or conduct constitutes
the subject matter of a case, conducts its principal place of
business, shall have original and exclusive jurisdiction,
regardless of the penalties and fines herein imposed, of all
criminal and civil cases involving violations of this Act and
other competition related laws. If the defendant or anyone is
charged in the capacity of a director, officer, shareholder,
employee, or agent of a corporation or other juridical entity
who knowingly and willfully authorized the commission of the
offense charged, the Regional Trial Court of the city or
province where such corporation or juridical entity conducts
its principal place of business, shall have jurisdiction.
SECTION 45. Private Action. Any person who suffers direct
injury by reason of any violation of this Act may institute a
separate and independent civil action after the Commission
has completed the preliminary inquiry provided under Section
31 of this Act.

CHAPTER VIII
OTHER PROVISIONS

SECTION 46. Statute of Limitations.

Any action arising from a violation of any
provision of this Act shall be forever
barred unless commenced within five (5)
years from:
a) For criminal actions the time, the violation is
discovered by the offended party, the
authorities, or their agents; and
b) For administrative and civil actions, the time
the cause of action accrues.

SECTION 47.Prohibition on the Issuance of Temporary Restraining

Orders, Preliminary Injunctions and Preliminary Mandatory
Injunctions. Except for the Court of Appeals and the Supreme Court,
no other court shall issue any temporary restraining order, preliminary
injunction or preliminary mandatory injunction against the Commission in
the exercise of its duties or functions: Provided, That, this prohibition
shall apply in all cases, disputes or controversies instituted by a private
party, including, but not limited to, cases filed by entities or those
claiming to have rights through such entities: Provided, however, That,
this prohibition shall not apply when the matter is of extreme urgency
involving a constitutional issue, such that the non-issuance of a
temporary restraining order will result in grave injustice and irreparable
injury to the public: Provided, further, That, the applicant shall file a
bond, in an amount to be fixed by the Court, but in no case shall it
exceed twenty percent (20%) of the imposable fines provided for under
Chapter VI, Section 29 of this Act: Provided, finally, That in the event that
the court finally decides that the applicant was not entitled to the relief
applied for, the bond shall accrue in favor of the Commission.
Any temporary restraining order, preliminary injunction or preliminary
mandatory injunction issued in violation of this section is void and of no
force and effect. Any judge who violates this section shall be penalized by
suspension of at least one (1) year without pay in addition to other
criminal, civil or administrative penalties.

SECTION 48. Trade Associations.

Nothing contained in this Act shall be
construed to prohibit the existence and
operation of trade associations organized
to promote quality standards and safety
issues: Provided, That, these associations
shall not in any way be used to justify any
violation of this Act; Provided, however,
That it shall not be illegal to use the
association as a forum to discuss or
promote quality standards, efficiency,
safety, security, productivity,
competitiveness and other matters of
common interest involving the industry;

SECTION 49. Congressional Oversight Committee. To oversee the

implementation of this Act, there shall be created a Congressional
Oversight Committee on Competition (COCC) to be composed of the
Chairpersons of the Senate Committees on Trade and Commerce,
Economic Affairs, and Finance, the Chairpersons of the House of
Representatives Committees on Economic Affairs, Trade and Industry,
and Appropriations and two (2) members each from the Senate and
the House of Representatives who shall be designated by the Senate
President and the Speaker of the House of Representatives: Provided,
That one (1) of the two (2) Senators and one (1) of the two (2) House
Members shall be nominated by the respective Minority Leaders of the
Senate and the House of Representatives. The Congressional
Oversight Committee shall be jointly chaired by the Chairpersons of
the Senate Committee on Trade and Commerce and the House of
Representatives Committee on Economic Affairs. The Vice Chairperson
of the Congressional Oversight Committee shall be jointly held by the
Chairpersons of the Senate Committee on Economic Affairs and the
House of Representatives Committee on Trade and Industry.
The Secretariat of the COCC shall be drawn from the existing personnel
of the Senate and House of Representatives committees comprising
the Congressional Oversight Committee.

CHAPTER IX
FINAL PROVISIONS

SECTION 50. Implementing Rules and Regulations.

Within one
hundred eighty (180) days from the
effectivity of this Act, the Commission, in consultation
with the DOJ-OFC and concerned sector regulators shall
promulgate the necessary implementing rules and
regulations for the implementation of this Act: Provided,
That, the Commission may revise such implementing
rules and regulations as it deems necessary: Provided,
however, That such revised implementing rules and
regulations shall only take effect fifteen (15) days
following its publication in two (2) newspapers of
general circulation.
SECTION 51. Appropriations and use of Fees,
Charges and Penalties. The initial budgetary
requirements of the Commission of Three Hundred
Million Pesos (P300,000,000.00) is hereby appropriated.

 All fees, fines, penalties collected by the

commission shall not be retained by the
commission, but will be remitted to the National
Treasury and shall accrue to the general funds.
Such funds necessary for the continuous and
effective operation of the Commission shall be
included in the Annual General Appropriations
Act.
SECTION 52. Transparency Clause. Final
decisions, orders and rulings of the commission
shall be published on the official website subject
to Section 34 of this Act.
Records of public proceedings shall be made
available to the public subject to section 34 of
this act.

 SECTION 53. Transitional Clause. In order to

allow affected parties time to renegotiate agreements
or restructure their business to comply with the
provisions of this Act, an existing business structure,
conduct, practice or any act that may be in violation of
this Act shall be subject to the administrative, civil and
criminal penalties prescribed herein only if it is not
cured or is continuing upon the expiration of two (2)
years after the effectivity of this Act; Provided, That
this section shall not apply to administrative, civil and
criminal proceedings against anti-competitive
agreement or conduct, abuse of dominant position,
and anti-competitive mergers and acquisitions,
initiated prior to theentry into force of this Act;
Provided, further, That during the said two (2)-year
period, the government shall undertake an advocacy
program to inform the general public of the provisions
of this Act.

SECTION 54. Separability Clause. If any

clause, sentence, section or part of this
Act shall be adjudged by a court of
competent jurisdiction to be invalid, such
judgment shall not affect, impair or
invalidate the remainder of this Act, but
shall be confined in its operation to the
clause, sentence, paragraph, section, or
part thereof directly involved in the
controversy.
SECTION 55. Repealing Clause. - The
following laws, and all other laws,
decrees, executive orders and

a) Article 186 of Act No. 3815, otherwise known as

the Revised Penal Code; Provided that violations
of Article 186 of the Revised Penal Code
committed before the effectivity of this Act may
continue to be prosecuted unless the same have
been barred by prescription, and subject to the
procedure under Section 31 of this Act;
b) Section 4 of Commonwealth Act No. 138;
c) Section 43(u) on Functions of the ERC of
Republic Act No. 9136, entitled An Act
Ordaining Reforms in the Electric Power Industry,
Amending for the Purpose Certain Laws and for
Other Purposes, otherwise known as the
Electric Power Industry Reform Act of 2001,
insofar as the provision thereof is inconsistent
with this Act;

d) Section 24 on Illegal Acts of Price Manipulation and

Section 25 on Penalty for Illegal Acts of Price
Manipulation of Republic Act No. 9502, entitled An
Act Providing for Cheaper and Quality Medicines,
Amending for the Purpose Republic Act No. 8293 or
the Intellectual Property Code, Republic Act No.
6675 or the Generics Act of 1988, and Republic Act
No. 5921 or the Pharmacy Law, and for Other
Purposes, otherwise known as the Universally
Accessible Cheaper and Quality Medicines Act of
2008, insofar as the provisions thereof are
inconsistent with this Act; and
e) Executive Order No. 45, Series of 2011,
Designating the Department of Justice as the
Competition Authority, Department of Justice
Circular 005 Series of 2015, and other related
issuances, insofar as they are inconsistent with the
provisions of this Act.

SECTION 56. Effectivity Clause. This Act

shall take effect fifteen (15) days
following its publication in the Official
Gazette or at least two (2) national
newspapers of general circulation.
Notwithstanding any provision herein, this
Act shall have no retroactive effect.