{"id":577772,"date":"2022-12-05T04:08:50","date_gmt":"2022-12-05T04:08:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/mps-give-initial-approval-to-competition-act-amendments\/"},"modified":"2022-12-05T04:08:50","modified_gmt":"2022-12-05T04:08:50","slug":"mps-give-initial-approval-to-competition-act-amendments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/mps-give-initial-approval-to-competition-act-amendments\/","title":{"rendered":"MPs give initial approval to Competition Act amendments"},"content":{"rendered":"

MPs<\/strong> give initial approval to new and improved Competition Act: <\/strong>The House of Representatives yesterday gave its initial approval on amendments to the 2005 Competition Act, which would grant the Egyptian Competition Authority (ECA) more power over M&As.<\/p>\n

What\u2019s at stake:<\/strong> Introduced<\/a> early last year by the government, the amendments would give the ECA the power to block M&As that could harm market competition and promote monopolistic practices. The authority is currently only able to voice concerns after transactions are concluded. The changes have proved controversial<\/a>, with disagreements between regulators resulting in the bill being kicked to the current legislative session.<\/p>\n

What\u2019s next:<\/strong> House Speaker Hanafi Gebali said the Competition Bill\u2019s remaining articles will be discussed today, with a final vote of approval expected tomorrow. Along with the preliminary approval, the House passed amendments to Articles 11 and 18 yesterday.<\/p>\n

We dive deeper<\/strong> into what this means for our business community here<\/a>.<\/p>\n

ALSO FROM THE HOUSE- <\/strong> The House Legislative and Constitutional Affairs Committee began discussing amendments to the 1950s Criminal Procedures Act.<\/p>\n","protected":false},"excerpt":{"rendered":"

MPs give initial approval to new and improved Competition Act: The House of Representatives yesterday gave its initial approval on amendments to the 2005 Competition Act, which would grant the Egyptian Competition Authority (ECA) more power over M&As. What\u2019s at stake: Introduced early last year by the government, the amendments would give the ECA the […]<\/p>\n","protected":false},"author":1,"featured_media":577773,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7344],"tags":[7400,72,274,187],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-watch","tag-competition-act","tag-enterpriseam","tag-house-of-representatives","tag-legislation-watch","wpautop","entry"],"acf":{"mongo_id":"3874bc73-53ea-43b3-a539-c8ddff1caffa","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/67.jpg","photo_position":"above","related_issue":[577761],"teaser":"","voice_url":""},"yoast_head":"\nMPs give initial approval to Competition Act amendments - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/mps-give-initial-approval-to-competition-act-amendments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MPs give initial approval to Competition Act amendments\" \/>\n<meta property=\"og:description\" content=\"MPs give initial approval to new and improved Competition Act: The House of Representatives yesterday gave its initial approval on amendments to the 2005 Competition Act, which would grant the Egyptian Competition Authority (ECA) more power over M&As. 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The amendments, which got a preliminary approval by the House earlier this week, would give the Egyptian Competition Authority\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/93.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577849,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/07\/competition-act-amendments-pass-the-house\/","url_meta":{"origin":577772,"position":1},"title":"Competition Act amendments pass the House","author":"enterpriseam admin","date":"7 December 2022","format":false,"excerpt":"MPs give their final approval to Competition Act amendments: The House of Representatives yesterday voted to pass amendments to the 2005 Competition Act following two days of debate. The amendments \u2014 which got initial signoff from the chamber on Monday \u2014 grant the Egyptian Competition Authority (ECA) the power to\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/125.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547708,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/04\/theres-still-hope-that-changes-to-competition-rules-could-pass-the-house-this-month\/","url_meta":{"origin":577772,"position":2},"title":"There\u2019s still hope that changes to competition rules could pass the House this month","author":"enterpriseam admin","date":"4 July 2022","format":false,"excerpt":"Talks over amendments to the Competition Act aren\u2019t dead yet: The House Economic Affairs Committee continued to debate the contentious amendments to the Competition Act yesterday in hopes that an agreement could be found before MPs break for summer recess, committee head Ahmed Samir told reporters yesterday. \"The committee is\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/108.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547747,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/tax-payers-get-break-on-late-fees-changes-to-competition-act-delayed\/","url_meta":{"origin":577772,"position":3},"title":"Tax payers get break on late fees + Changes to competition Act delayed","author":"enterpriseam admin","date":"5 July 2022","format":false,"excerpt":"Taxpayers who are in arrears to the government will catch a bit of a break this year after representatives approved amendments that will reduce late payment fees due before 31 August by 65%. The bill had originally been set to waive 50% of fees due before 15 July, but the\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547621,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/29\/business-community-holds-its-breath-as-competition-authority-jockeys-for-more-power-to-regulate-ma\/","url_meta":{"origin":577772,"position":4},"title":"Business community holds its breath as competition authority jockeys for more power to regulate M&A","author":"enterpriseam admin","date":"29 June 2022","format":false,"excerpt":"WHAT\u2019S GOING ON with amendments to the Competition Act? Debate of legislation that would give the Egyptian Competition Authority (ECA) more power to regulate M&A is ratcheting up in the House of Representatives. The Madbouly cabinet provided a little clarity earlier this week on what it hopes to achieve with\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/333.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547674,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/03\/talks-over-amendments-to-competition-act-are-deadlocked\/","url_meta":{"origin":577772,"position":5},"title":"Talks over amendments to Competition Act are deadlocked","author":"enterpriseam admin","date":"3 July 2022","format":false,"excerpt":"Will the Competition Act prove too controversial to pass the House this session? Differences over proposed amendments to the Competition Act between our financial regulators have reached a stalemate, Ahmed Samir, head of the House Economic Affairs Committee, told reporters last week. 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