Page:Electricity Act 2001.pdf/53

54 perform and observe the market rules as far as they are applicable to each market participant and the Market Company as provided for in the market rules. PART VII COMPETITION Agreements, etc., preventing, restricting or distorting competition

50.—(1) Subject to section 52, agreements, decisions or concerted practices by persons which have as their object or effect the prevention, restriction or distortion of competition in any wholesale electricity market or the retail electricity market in Singapore are prohibited.

(2) Subsection (1) applies, in particular, to agreements, decisions or concerted practices which—
 * (a) directly or indirectly fix purchase or selling prices or any other trading conditions of electricity in Singapore;
 * (b) limit or control generation of electricity, any wholesale electricity market, the retail electricity market, technical development or investment in the electricity industry in Singapore;
 * (c) share markets or sources of supply of electricity in Singapore;
 * (d) apply dissimilar conditions to equivalent transactions with other trading parties, thereby placing them at a competitive disadvantage;
 * (e) make the conclusion of contracts subject to acceptance by the other parties of supplementary obligations which, by their nature or according to commercial usage, have no connection with the subject of such contracts; or
 * (f) provide for the acquisition, directly or indirectly, of shares in or the assets of an electricity licensee.

(3) Subsection (1) applies only if the agreement, decision or concerted practice is, or is intended to be, implemented in Singapore.

(4) Subject to section 52, an agreement or a decision which is prohibited by subsection (1) is void.