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Guide to the Fair Trading Act
TTFTC promotes fair competition, equal business opportunities, and transparent practices in Trinidad and Tobago.
Understanding the Fair Trading Act: A Comprehensive Guide
Welcome to our guide designed to provide a clear understanding of the main provisions of the Fair Trading Act (FTA) in Trinidad and Tobago. The FTA is a groundbreaking legislation in the country, addressing essential aspects of market conduct, establishing the Fair Trading Commission (FTC) as its enforcement authority, and outlining penalties and enforcement measures.
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 as well.
Understanding the Fair Trading Act: A Comprehensive Guide
Welcome to our guide designed to provide a clear understanding of the main provisions of the Fair Trading Act (FTA) in Trinidad and Tobago. The FTA is a groundbreaking legislation in the country, addressing essential aspects of market conduct, establishing the Fair Trading Commission (FTC) as its enforcement authority, and outlining penalties and enforcement measures.
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 as well.