One of the key roles of the ICCC is promoting and fostering effective competition between businesses. Part VI of the ICCC Act provides this mandate. A competitive marketplace results in economic efficiency, innovation, lower prices, increased choices, and overall economic growth, which ultimately contribute to enhancing the welfare of every Papua New Guinean.
The ICCC’s competition role includes enforcement and adjudication. Under enforcement, the ICCC investigates anti-competitive conduct and takes corrective actions to ensure market competition is not harmed. With the adjudication function, the ICCC receives and determines after careful assessment whether or not it should approve businesses to engage in otherwise anticompetitive conduct.
Below is the list of broad areas of business conduct the ICCC Act prohibits to ensure the marketplace remains competitive.
Anti-Competitive Business Agreements that may substantially lessen competition;
Anti-Competitive Covenants that may substantially lessen competition;
Exclusionary Provisions or agreement between businesses to exclude a competitor;
Price Fixing between competitors;
Taking Advantage of Market Power;
Resale Price Maintenance; and
Business Acquisitions that may substantially lessen competition.