Competition Act
Encyclopedia
The Competition Act is a Canadian federal law governing most business
conduct
.
The Act contains both criminal and civil
provisions aimed at preventing anti-competitive practices in the marketplace
.
Its purpose is to maintain and encourage competition in Canada.
Its purpose is to maintain and encourage competition in Canada in order to:
The administration and enforcement of the Competition Act is done by the Competition Bureau which is also responsible for the administration and enforcement of the Consumer Packaging and Labelling Act, the Textile Labelling Act and the Precious Metals Marking Act.
Business
A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...
conduct
Conduct
Conduct may refer to:*Behavior**a personal behavior, a way of acting and showing one's behaviour**using hand gestures to direct*Action , in relation to moral or ethical precepts*Conducting a musical ensemble...
.
The Act contains both criminal and civil
Civil law (common law)
Civil law, as opposed to criminal law, is the branch of law dealing with disputes between individuals or organizations, in which compensation may be awarded to the victim...
provisions aimed at preventing anti-competitive practices in the marketplace
Economy of Canada
Canada has the tenth largest economy in the world , is one of the world's wealthiest nations, and is a member of the Organization for Economic Co-operation and Development and Group of Eight . As with other developed nations, the Canadian economy is dominated by the service industry, which employs...
.
Its purpose is to maintain and encourage competition in Canada.
The Competition Act
In Canada, the Competition Act is a federal law governing most business conduct in Canada. It contains both criminal and civil provisions aimed at preventing anti-competitive practices in the marketplace.Its purpose is to maintain and encourage competition in Canada in order to:
-
- promote the efficiency and adaptability of the Canadian economy
- expand opportunities for Canadian participation in world markets while at the same time recognizing the role of foreign competition in Canada
- ensure that small and medium-sized enterprises have an equitable opportunity to participate in the Canadian economy
- provide consumers with competitive prices and product choices.
The administration and enforcement of the Competition Act is done by the Competition Bureau which is also responsible for the administration and enforcement of the Consumer Packaging and Labelling Act, the Textile Labelling Act and the Precious Metals Marking Act.