Update on Hong Kong’s Competition Regime
Hong Kong’s preparation for its new competition regime continues; previously King & Wood Mallesons reported on the establishment of the Competition Commission. The Hong Kong Judiciary has taken the next step with the appointment of the president and vice-president of the Competition Tribunal: Mr Justice Godfrey Lam and Madam Justice Queeny Au-Yeung. These appointments are each for a term of three years, with effect from 1 August 2013. Both Mr Justice Lam and Madam Justice Au-Yeung were experienced barristers before they were appointed to the judiciary.
According to current indications, the Competition Commission will spend the next 12 to 18 months drafting various guidelines, carrying out public and industry consultations and educating Hong Kong’s business community about the new regime. Therefore, it appears that the law — only the parts establishing the Competition Commission and the Competition Tribunal are currently in force — will be made effective only in early 2015. A global search for a chief executive officer and a few key positions is under way and it is likely that these senior managers will be on board soon…
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