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UAE legislative update — the UAE promulgates a competition law

The United Arab Emirates  federal government has issued the long anticipated Federal Law No. 4 of 2012 on the Regulation of Competition. The Law was published in the Official Gazette in December 2012 and will come into force in February 2013. The aim of this legislation is to protect and enhance competition, as well as to fight monopolistic and anti-competitive practices in order to promote a free market economy.

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