Cormac Devlin
Ceist:79. Deputy Cormac Devlin asked the Tánaiste and Minister for Enterprise, Trade and Employment if he is bringing forward new competition legislation; and if he will make a statement on the matter. [6830/22]
Amharc ar fhreagraThursday, 10 February 2022
Ceisteanna (79)
Freagraí scríofa
Following Government approval late last month, the Tánaiste and I published the Competition (Amendment) Bill 2022 on Monday 31st January last. This Bill will give more powers to the Competition and Consumer Protection Commission (CCPC) and the Commission for Communications Regulation (ComReg) to challenge anti-competitive practices by business and protect consumers.
For the first time in Irish law, breaches of competition law can be enforced through administrative actions taken by competition authorities, with maximum fines of up to €10 million or 10% of total worldwide turnover, whichever is the greater.
This Bill represents a significant step-change in competition enforcement to effectively tackle white collar crime in Ireland and will be instrumental in supporting the ongoing work to protect and promote a competitive and fair marketplace that works for consumers and business alike.
I look forward to bringing this Bill through the Houses of the Oireachtas as a priority in the coming weeks.