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::(ii) any person, to the extent that the person is engaged in an activity specified in the regulation.

(2) The Chief Executive in Council may only make a regulation under subsection (1)(a)(i) or (ii) with respect to a statutory body if he or she is satisfied that—
 * (a) the statutory body is engaging in an economic activity in direct competition with another undertaking;
 * (b) the economic activity of the statutory body is affecting the economic efficiency of a specific market;
 * (c) the economic activity of the statutory body is not directly related to the provision of an essential public service or the implementation of public policy; and
 * (d) there are no other exceptional and compelling reasons of public policy against making such a regulation.

(3) In subsection (1), a reference to a statutory body or a person includes an employee or agent of the statutory body or person, acting in that capacity.   PART 2 Division 1—Agreements etc. Preventing, Restricting or Distorting Competition Subdivision 1—First Conduct Rule 6. Prohibition of anti-competitive agreements, concerted practices and decisions

(1) An undertaking must not—
 * (a) make or give effect to an agreement;
 * (b) engage in a concerted practice; or
 * (c) as a member of an association of undertakings, make or give effect to a decision of the association,

if the object or effect of the agreement, concerted practice or decision is to prevent, restrict or distort competition in Hong Kong.

(2) Unless the context otherwise requires, a provision of this Ordinance which is expressed to apply to, or in relation to, an agreement is to be read as applying equally to, or in relation to, a concerted practice and a decision by an association of undertakings (but with any necessary modifications).

(3) The prohibition imposed by subsection (1) is referred to in this Ordinance as the “first conduct rule”.

