Bill C-352, also known as the Lowering Prices for Canadians Act, proposes changes to the Competition Act and the Competition Tribunal Act. The bill aims to strengthen the rules against anti-competitive behavior and to give the Competition Tribunal more power to stop mergers that could hurt competition.
Key changes include raising the penalties for certain anti-competitive actions, such as price-fixing. The maximum fine for these offenses could be as high as $25 million or a percentage of a company's global revenue. The bill also adjusts how mergers are reviewed, placing greater emphasis on market concentration and making it harder for companies to argue that a merger will lead to efficiency gains that outweigh any harm to competition.
Additionally, the bill would require the Competition Tribunal to block mergers that result in a company having a large share of the market. The time limit for reviewing mergers would be extended from one year to three years. Finally, the bill removes the ability of the Competition Tribunal to order costs against the Crown.
Inflation and Cost of Living
Bill C-352, named the Lowering Prices for Canadians Act, focuses on preventing anti-competitive practices like price-fixing and unfair selling prices. By increasing penalties for such actions and giving the Competition Tribunal more power to block mergers that reduce competition, the bill aims to help keep prices fair for consumers.
Crime
The bill increases the maximum prison term for certain anti-competitive offenses, such as price fixing, from 5 years to 14 years. This aims to deter these crimes.