An oligopoly is a market structure in which a market or industry is dominated by a small number of large sellers or producers. Oligopolies often result from the desire to maximize profits,which can lead to collusion between companies. This reduces competition,increases prices for consumers,and lowers wages for employees.
A cartel is a group of independent market participants who collude with each other in order to improve their profits and dominate the market. Cartels are usually associations in the same sphere of business,and thus an alliance of rivals. Most jurisdictions consider it anti-competitive behavior and have outlawed such practices. Cartel behavior includes price fixing,bid rigging,and reductions in output. The doctrine in economics that analyzes cartels is cartel theory. Cartels are distinguished from other forms of collusion or anti-competitive organization such as corporate mergers.
Price fixing is an anticompetitive agreement between participants on the same side in a market to buy or sell a product,service,or commodity only at a fixed price,or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand.
Collusion is a deceitful agreement or secret cooperation between two or more parties to limit open competition by deceiving,misleading or defrauding others of their legal right. Collusion is not always considered illegal. It can be used to attain objectives forbidden by law;for example,by defrauding or gaining an unfair market advantage. It is an agreement among firms or individuals to divide a market,set prices,limit production or limit opportunities. It can involve "unions,wage fixing,kickbacks,or misrepresenting the independence of the relationship between the colluding parties". In legal terms,all acts effected by collusion are considered void.
Anti-competitive practices are business or government practices that prevent or reduce competition in a market. Antitrust laws differ among state and federal laws to ensure businesses do not engage in competitive practices that harm other,usually smaller,businesses or consumers. These laws are formed to promote healthy competition within a free market by limiting the abuse of monopoly power. Competition allows companies to compete in order for products and services to improve;promote innovation;and provide more choices for consumers. In order to obtain greater profits,some large enterprises take advantage of market power to hinder survival of new entrants. Anti-competitive behavior can undermine the efficiency and fairness of the market,leaving consumers with little choice to obtain a reasonable quality of service.
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law,anti-monopoly law,and trade practices law;the act of pushing for antitrust measures or attacking monopolistic companies is commonly known as trust busting.
The Judiciary of the Hong Kong Special Administrative Region is the judicial branch of the Hong Kong Special Administrative Region. Under the Basic Law of Hong Kong,it exercises the judicial power of the Region and is independent of the executive and legislative branches of the Government. The courts in Hong Kong hear and adjudicate all prosecutions and civil disputes,including all public and private law matters.
The law of the Hong Kong Special Administrative Region has its foundation in the English common law system,inherited from being a former British colony and dependent territory. There are several sources of law,the primary ones being statutes enacted by the Legislative Council of Hong Kong and case law made by decisions of the courts of Hong Kong.
The Competition and Consumer Act 2010 (CCA) is an Act of the Parliament of Australia. Prior to 1 January 2011,it was known as the Trade Practices Act 1974 (TPA). The Act is the legislative vehicle for competition law in Australia,and seeks to promote competition,fair trading as well as providing protection for consumers. It is administered by the Australian Competition &Consumer Commission (ACCC) and also gives some rights for private action. Schedule 2 of the CCA sets out the Australian Consumer Law (ACL). The Federal Court of Australia has the jurisdiction to determine private and public complaints made in regard to contraventions of the Act.
The High Court of the Hong Kong Special Administrative Region is a part of the legal system of Hong Kong. It consists of the Court of Appeal and the Court of First Instance;it deals with criminal and civil cases which have risen beyond the lower courts. It is a superior court of record of unlimited civil and criminal jurisdiction. It was named the Supreme Court before 1997. Though previously named the Supreme Court,this Court has long been the local equivalent to the Senior Courts of England and Wales and has never been vested with the power of final adjudication.
The Food and Environmental Hygiene Department (FEHD) is a department of the Hong Kong Government,reporting to the Environment and Ecology Bureau. It is responsible for food hygiene and environmental hygiene. It replaced part of the role of the Urban Council and the Urban Services Department,and the Regional Council and the Regional Services Department.
The Hong Kong Science and Technology Parks Corporation (HKSTP) is a public corporation set up by the Hong Kong Government in 2001 to foster innovation and technology development in Hong Kong
The Antiquities Advisory Board (AAB) is a statutory body of the Hong Kong Special Administrative Region with the responsibility of advising the Antiquities Authority on any matters relating to antiquities and monuments. The AAB was established in 1976 along with the Antiquities and Monuments Office (AMO) when the Antiquities and Monuments Ordinance (Cap. 53) was enacted,and comprises members appointed by the Chief Executive. The corresponding governmental ministry is the Development Bureau,and executive support for the AAB is provided by the AMO which is under the Development Bureau.
This is a partial list of notable price fixing and bid rigging cases.
The Commerce Commission is a New Zealand government agency with responsibility for enforcing legislation that relates to competition in the country's markets,fair trading and consumer credit contracts,and regulatory responsibility for areas such as electricity and gas,telecommunications,dairy products and airports. It is an independent Crown entity established under the Commerce Act 1986. Although responsible to the Minister of Commerce and Consumer Affairs and the Minister of Broadcasting,Communications and Digital Media,the Commission is run independently from the government,and is intended to be an impartial promotor and enforcer of the law.
Tobacco smoking in Hong Kong has declined in recent decades,with 10 percent of Hong Kongers smoking on a daily basis as of 2017. It is the policy of the Hong Kong government to discourage smoking. Smoking is banned in most public places and tobacco advertising is prohibited.
The Consumer Council is an independent statutory authority in Hong Kong,established in 1974 and formalised in April 1977 under the Consumer Council Ordinance. Its role is to enhance consumer welfare and empower consumers to protect themselves. As shown below,over the course of the past four decades,the expansion in the council's duties and services on consumer protection,such as the publishing of the CHOICE Magazine in 1976,the recent launch of online price-watching tools,and conducting studies on different aspects of the consumer market,have coincided with the socio-economic development of Hong Kong. Apart from being a consumer advisor,it has assumed the role as a key stakeholder in making of consumer-related policies.
TVBully refers to the monopolistic market dominance of free-to-air television in Hong Kong. Television Broadcasts Limited (TVB) was blamed for this monopolization and this phenomenon had been a huge challenge for the operation of TVB. ATV has also complained about TVB's monopoly abuse.
The Office of the Privacy Commissioner for Personal Data (PCPD) is a Hong Kong statutory body enforcing the Personal Data (Privacy) Ordinance,which secured the protection of privacy of individuals. The office is headed by the Privacy Commissioner for Personal Data,Ada Chung.
The Prohibition on Face Covering Regulation ("PFCR") is a regulation prohibiting the wearing of face coverings in certain circumstances made by Chief Executive in Council under the Emergency Regulations Ordinance due to the 2019–2020 Hong Kong protests. The Court of First Instance heard applications for judicial review from 24 members of the Legislative Council (LegCo) and Leung Kwok-hung,a former LegCo member,submitted in early October. On 18 November,it ruled that both the prohibition on the wearing of masks and related powers granted to the police to enforce it are inconsistent with the Hong Kong Bill of Rights,whilst leaving the question of relief to a future hearing. On 22 November,the court declared the PFCR invalid and of no effect,but suspended the application of that declaration till 29 November 2019. The government appealed the decision on 25 November to the Court of Appeal,which partially allowed the government's appeal. The prohibition of masks at unauthorised assemblies was ruled to be constitutional,but the power to remove masks and the prohibition on wearing masks at authorised assemblies was ruled unconstitutional. On appeal,the Court of Final Appeal upheld the constitutionality of the PFCR in its entirety,including the prohibition on face coverings at authorised assemblies and processions.
