A Guide to the Fair Trading Act
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The purpose of this guide is to help understand the main provisions of the Fair Trading Act (FTA).
The FTA is the first law of its kind enacted in Trinidad and Tobago. It introduces certain provisions
of conduct in the market, creates the institution in charge of its enforcement (the Fair Trading
Commission or FTC), and determines the penalties and enforcement measures.
The substantive provisions contained in the FTA can be divided into two groups: Provisions
regulating the structure of the market, in the form of merger regulations; and provisions that refer
to the conduct of enterprises, reflected in the prohibition of anticompetitive agreements and abuse
of monopoly power. This guide refers to the second group only. A specific guideline dealing with
mergers was issued by the FTC in the year 2020.
The guide is divided into three sections. The first section defines certain basic concepts, relevant
to having a better understanding of the FTA. The second section refers to the substantive provisions
of the FTA, describing the agreements and conducts that are illegal and, thus, subject to
enforcement actions. Finally, the last section summarizes the functions and powers of the FTC,
the investigation process, and possible penalties for infringement of these substantive provisions.
In the context of this guide, reference to goods or products should be understood to also cover
services. Provisions related to the sale of such products or services include the purchasing markets