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Competition Commission signs Memorandum of
Understanding with the Bank of Mauritius March 2010 |
| At a ceremony on 26th August 2010, at the Bank
of Mauritius, the CCM signed a Memorandum of Understanding (MOU)
that it is required under the Competition Act to conclude with
sector regulators. This MOU was signed by Mr John Davies, Executive
Director for the CCM and Mr Y Googoolye, First Deputy Governor
of the Bank of Mauritius., in the presence of Mr Bheenick, Governor
of the Bank of Mauritius, and Mr Rajiv Servansing, Acting Chairman
of the Competition Commission. |
| This MoU intends to promote co-operation and
coordination between the CCM and the BOM when dealing with cases
of anti-competitive behavior where they have overlapping powers.
It will facilitate the treatment of cases of anti-competitive
behavior within the Banking sector, through sharing of expertise
between the two different bodies whenever necessary but more
importantly sharing of information relevant to the exercise
of the respective functions of both the CCM and the BOM. |
| Very often, functions of sector regulators may
overlap with those of competition agencies, and thus there is
a risk of duplication of activities and also double jeopardy
to licensees of those sector regulators. This MoU effectively
deals with this by providing for the minimization of duplication
of investigations, as well as preventing double jeopardy. More
importantly, it enables the exchange of information of the licensees
of the Bank of Mauritius in order to enable the CCM to carry
out its functions effectively. |
| The Executive Director, Mr John Davies highlighted
the fact that the Competition Act 2007 applies to all sectors
of the economy including the banking sector. He stressed the
importance of a Memorandum of Understanding between the Competition
Commission and sector regulators to enable competition law to
be effectively applied. This type of cooperation, he said is
of prime importance to give the necessary confidence and comfort
to licensees of sector regulators, that they will not face ‘double
jeopardy’, in cases where the functions/objectives of
a sector regulator and the CCM overlaps. |
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