HONG KONG, Jan. 23, 2014 /PRNewswire/ -- The Hong Kong Institute of Chartered Secretaries (HKICS) releases the Guidance Note on Competition Law - a practical guide to familarise users with the main provisions of the ordinance and to make recommendations on compliance with the law.
The Competition Ordinance (Chapter 619) has been many years in the making and will provide significant changes to the regulatory landscape and ways of conducting business in Hong Kong. Depending on the business specifics, companies may consider the adoption of competition audits and systems of controls.
"The company secretary, as an advisor to the Board of Directors, has a duty to ensure that his/her board and relevant officers are fully aware of the nature and effect of the ordinance," said Ms Edith Shih FCIS FCS(PE), HKICS President. "The Guidance Note also recommends a review of current and future business operations and devise on-going systems to comply with the new law," added Ms Shih.
The Guidance Note on Competition Law, authored by Professor Mark Williams, Executive Director of Asian Competition Forum and assisted by Mohan Datwani FCIS FCS, Technical and Research Director of HKICS, contains an overview of the Competition Ordinance, Competition Commission and Tribunal as well as the First and Second Conduct Rules.
This Guidance Note is intended to be first of a series as and when industry specific guidelines on the Competition Ordinance are issued by the Competition Commission. It is available at http://www.hkics.org.hk under "Publications".
For press enquiries, please contact:
Name: Ms Cherry Chan
Tel: +852-2830-6005
Email: cherry@hkics.org.hk
Name: Ms Michelle Phong
Tel: +852-2830-6003
Email: michelle@hkics.org.hk
