The government of Singapore has established a new body to promote competition within the business community and enforce the country's competition laws, it emerged at the weekend.
The Competition Commission of Singapore (CCS), which was established on Saturday, will be made up of private sector representatives, civil servants, and academics, and will represent the island overseas with regard to competition matters, and advise the Singaporean authorities.
In a statement, the Ministry of Trade and Industry announced that in addition to the aforementioned responsibilities:
"The CCS will have powers to investigate and adjudicate anticompetitive activities. It will also have the powers to impose sanctions."
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