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Agency for Protection of Competition develops new edition of Law on Competition

Astana. April 14. Kazakhstan Today - Newly created Agency of Kazakhstan for Protection of Competition develops new edition of the Law on Competition. The chairman of the agency Mazhit Esenbayev informed during the presentation and the first public discussion of the bill in Astana on Friday, the agency reports. Esenbayev noted that "in the conceptual plan the new bill has some basic differences from the current laws: the Law on Restriction of Monopolistic Activity and the Law on Unfair Competition." "The new bill includes all those norms, which are present in the laws in force," M. Esenbayev said. M. Esenbayev explained that the bill "defines the main principles, forms and bases of the state participation in the competitive market." The bill introduces the concept "of exterritoriality of law. M. Esenbayev explained that the question "is connected with the fact that the Kazakhstan market is open for many investors. The investors carry out their activity, being residents of other states, and the issues connected with infringement of the antimonopoly law in our state cannot be reflected in their primary activity in the other state.

Resourse: Kazakhstan Today

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