The Business Competition Act (Inter)
An act to regulate the market strength of large corporations.
ENACTED during the Great Interregnum.
AMENDED by the Labor Reform Resolution, 645.
AMENDED by the An Amendment to The Business Competition Act, 654. AMENDED by the Commerce and Labour Expenditures Act, 654.
Article 1 - Competition Law
- 1.1 - Monopolies may not be established within the Kodiak Republic
- 1.2 - An arbitration court shall be established to mediate between business interests.
- 1.3 - The Business Arbitration Court shall be quarterly funded with ₣7,950,000.
Article 2 - Entrepreneurial Aide Agency
- 2.1 - Creates the Better Business Council [BBC]
- 2.1.1 - Authorizes Government loans for medium businesses, with a threshold of 5,000,000 florins annual income in the last financial year.
- 2.1.2 - Authorizes Government loans for small businesses, with a threshold of 1,000,000 florins annual income in the last financial year.
- 2.1.3 - Authorizes Government loans for start-up or micro businesses with less than 100,000 florins of starting capital.
- 2.2 - Funds ₣43,000,000 quarterly to the Ministry of Commerce for the administration of the BBC
Article 3 - Creation of the Anti-Monopoly Commission
- 3.1 - An Anti-Monopoly Commission is being created under the Ministry of Labour and Commerce.
- 3.2 - The Anti-Monopoly Commission is formed by the Minister of Labour and Commerce at his discretion.
- 3.3 - The Anti-Monopoly Commission is authorized to fine enterprises for using non-market methods of competition.
- 3.4 - Non-market methods of competition are equated with:
- 3.4.1 - A statement about the non-existent properties of a product or service.
- 3.4.2 - Not informing consumers about the properties of the product or service
- 3.4.3 - Establishment and/or maintenance of monopolistically high or monopolistically low prices of goods and or services.
- 3.4.4 - Withdrawal of goods or services from circulation, if the result of such withdrawal was an increase in the price of the goods.
- 3.4.5 - Economically unjustified reduction or termination of production of goods, if there is demand for this product or orders for its delivery are placed, if there is a possibility of its cost-effective production.
- 3.4.6 - Economically unjustified refusal to conclude a contract with buyers if there is a possibility of production or supply of the corresponding goods or services.
- 3.4.7 - Creation of obstacles to access to the commodity market or exit from the commodity market to other economic entities.
- 3.5 - The amount of the fine is set at 5% of the market capitalization of the enterprise and is doubled for each fine of the enterprise.
- 3.6 - The Anti-Monopoly Commission is funded by 1 000 000 florins per quarter.