The Competition Act, with its 74 articles and four Schedules organizad into six Parts, lays out a detailed legal framework aimed at ensuring fair competition and practices within the market to the advantage of both consumers and businesses. It details the establishment, roles, and authorities of the Commission (introduced in article 3), which is charged with the oversight of competition in the marketplace, including efforts to improve market efficiency, encourage competitive environments, and foster innovation. The Commission advocates for competitive practices, educates the public about the importance of competition, offers advice to the government on competition-related policies, and represents Brunei on the international stage regarding competition issues. It also engages in research and skill development in areas pertinent to competition law, economics, and policy. The Commission's operations are influenced by the unique dynamics of different markets, the country's economic and industrial requirements, and the objective of sustaining efficient market functions, with the flexibility to undertake additional responsibilities as directed by the Minister. Furthermore, the Act specifies the process for appointing a Director and authorized officers (articles 6 and 7), and outlines how powers can be delegated to committees. It also explores the prohibition of anti-competitive agreements, abuse of dominant market positions, and the rules governing mergers. The Commission is granted the authority to conduct investigations into suspected breaches of competition laws, and it can compel individuals or entities to furnish necessary documents or share pertinent information when required.
The six Parts of the Act are entitled as follows: (1) Preliminary; (2) Constitution, functions and powers of the Commission; (3) Competition; (4) Offences; (5) Competition appeal tribunal; (6) General.