DRAFT COMPETITION LAW PRESENTED

Ulaanbaatar, /MONTSAME/ A draft Competition Law was submitted Tuesday to Parliamentary Speaker D.Demberel. Law initiators have drawn up this draft law for the purpose of renewing the Law of Mongolia on Prohibiting Unfair Competition.
The draft law has been drawn up with the aim of regulating relations of the competition among economic entities in the market in consideration of current market situation and legal coordination of international market competition. The draft proposes to restrict the possibilities of influence from state organizations on competition in the market, to put control over the implementation of the law, to coordinate procedures of inspecting cases, which infringe the law, and the responsibility to be imposed.
According to the bill, a state administrative organ to be responsible for competition issues will have a status of government agency.
S.Batbayar