The United Arab Emirates (“UAE”) federal government has issued the long anticipated Federal Law No. 4 of 2012 on the Regulation of Competition (the “Law”). The Law was published in the Official Gazette in December 2012 and will come into force in February 2013.
The aim of this legislation is to protect and enhance competition, as well as to fight monopolistic and anti-competitive practices in order to promote a free market economy. This Law represents a positive development to the UAE's regulatory environment and is part of a wider GCC anti-trust legislative effort.
Establishments are provided with a six month period from the date the Law comes into force to comply with its provisions, and executive regulations to put the law’s provisions into effect are expected to be published within the same time frame.
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