Competition Commission amends LPG’s terms of reference - CNBC Africa

Competition Commission amends LPG’s terms of reference

Southern Africa

by Trust Matsilele 0

Commission amends LPG’s terms of reference. PHOTOS: power-technology/mokveld

A market inquiry is a general investigation into the state, nature and form of competition in a market, rather than a narrow investigation of specific conduct by any particular firm.

(READ MORE: Commission conducts inquiry into S.Africa's LPG sector)

The commission said in a statement it had withdrawn the ToR published on 20 June 2014 and republished the amended ToR on Friday.

“The commission noted a few errors in the background sections which provided an overview of the LPG sector,” read the statement.

“BP Southern Africa (BP SA) was incorrectly characterised as a vertically integrated market participant in the LPG supply chain. However, as of July 2013, BP SA was no longer participating in the downstream supply of LPG. The amended ToR seeks to address such errors.”

The commission noted that the objectives and rationale of the market inquiry would remain the same.

The market inquiry is set to commence on 15 September 2014 and is expected to be completed by March 2016.

(READ MORE: Competion Commission appoints new executives)

The commission is tasked with among others duties, to implement measures to increase market transparency, advise, and receive advice from, any regulatory authority. 

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