Wednesday, July 1st, 2015 at 3:07 PM
The CARICOM Competition Commission (“the Commission”) hereby
provides an update to its statement published on 28 January 2015 on www.
Pursuant to Article 176.1 of the Revised Treaty of
Chaguaramas (RTC), the Commission has completed its Preliminary Examination of
the agreement and has reached the conclusion that an investigation is
warranted.
In this regard, the Commission will now undertake to
complete the remaining procedural steps under Article 176 of the RTC to further
progress this matter.
Given that the findings of the Preliminary Examination
indicate that an investigation is required, in accordance with Article 176.4 of
the RTC, the Commission will hold consultations with the Member States
concerned to determine and agree on its jurisdiction to investigate the
business transaction.
Article 176.5 further states that: “If there is a difference
of opinion between the Commission and the Member State
regarding the nature and effects of the business conduct or the jurisdiction of
the investigating authority, the Commission shall:
(a) cease any further examination of the matter; and
(b) refer the matter to COTED for its decision.”
Article 176.6 further provides that: “Nothing in this
Article shall prejudice the right of the Member State
to initiate proceedings before the Court at any time.”
Article 176.7 then concludes by stating that: “Where there
is a finding that the Commission has jurisdiction to investigate the matter,
the Commission shall follow the procedures set out in paragraphs 5, 6, 7 and 8
of Article 175″.”
The Commission expects this consultation phase with the
Member States to be completed in a timely manner. The Commission will then
provide an update on its next steps.
No comments:
Post a Comment