Decree on Trade Competition
关于贸易竞争的法令
ດຳລັດ ວ່າດ້ວຍການແຂ່ງຂັນການຄ້າ
Summary
This Decree aims to establish regulations, measures, and organizational mechanisms for anti-monopoly and anti-unfair trade competition to promote fair trade competition and protect consumers' legitimate rights and interests, establishing a Trade Competition Committee for supervision and management, consisting of 17 articles.
Articles
Article 1
Article 1: Purpose. This Decree is established to prescribe regulations, measures, and organizational work against various forms of monopoly and unfair trade competition, in order to promote fair trade competition, protect the legitimate rights and interests of consumers, and encourage trade and business operations within the territory of the Lao People's Democratic Republic to operate in accordance with the state-regulated market economy mechanism.
Article 2
Article 2. Definitions. In this Decree-Law, the following terms shall have the meanings ascribed to them below:
- “Trade” means trade in goods and trade in services;
- “Market dominance” means that one or more business operators possess a sales volume and market share in a particular good or service exceeding the standards prescribed by the Trade Competition Commission;
- “Business merger” means the consolidation of two or more business units into one, whereby one business unit survives and the other is dissolved, or a new business unit is created;
- “Business control” means acquiring the power to dominate the management and operation of another business operator by purchasing all or part of its assets or shares;
- “Service” means undertaking to do or cause to be done something, providing the use or benefit of property or an activity, and receiving money or other benefits as remuneration therefor, excluding employment labor;
- “Monopoly” means a business operator obtaining market dominance by improper means;
- “Commission” means the Trade Competition Commission;
- “Goods” means articles intended for consumption or use, as well as documents evidencing title relating to such articles;
- “Consumer” means a person who purchases and uses goods or services from a business operator;
- “Business operator” means a business unit dealing in goods, a business unit purchasing goods for production or resale, and a provider of commercial services;
- “Price” means the price of goods and the fee for services.
Article 3
Article 3 Basic Principles of Competition. All economic sectors are equal before the law and shall fairly cooperate and compete with each other in accordance with the provisions of this Decree and other relevant laws and regulations.
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