Canadian Competition Act

AAA

DEFINITION of 'Canadian Competition Act'

A federal law that governs business practices in Canada. The Canadian Competition Act includes criminal and civil provisions intended to prevent anti-competitive practices in the marketplace. The Act seeks to:

  • Promote the adaptability and efficiency of Canada's economy
  • Expand opportunities for participation in worldwide markets
  • Create an economic environment in which small and medium-sized enterprises have equitable opportunities

The Canadian Competition Act Provide Canada's consumers with competitive product varieties and prices through such means as monitoring merger and acquisition activity to ensure that any such practices provide an overall benefit to the Canadian economy.

INVESTOPEDIA EXPLAINS 'Canadian Competition Act'

The Canadian Competition Act is similar to the U.S. Antitrust Law in that they prevent companies from attaining a market monopoly. The Canadian Competition Bureau, an independent law enforcement agency, is the primary agency responsible for the enforcement of the Canadian Competition Act, which provides for the regulation of trade and commerce in regards to trade practices, conspiracies and mergers that affect competition.

RELATED TERMS
  1. Canada Revenue Agency - CRA

    A federal agency that collects taxes and administers tax laws ...
  2. Antitrust

    The antitrust laws apply to virtually all industries and to every ...
  3. Federal Trade Commission - FTC

    An independent federal agency whose main goals are to protect ...
  4. Canadian Income Trust

    A type of corporate structure as designated by the Canada Revenue ...
  5. Canadian Deposit Insurance Corporation ...

    A crown corporation owned by the Canadian government that insures ...
  6. Clayton Antitrust Act

    An amendment passed by the U.S. Congress in 1914 that provides ...
Related Articles
  1. The History Of Economic Thought
    Economics

    The History Of Economic Thought

  2. What is an antitrust law?
    Investing

    What is an antitrust law?

  3. A History Of U.S. Monopolies
    Personal Finance

    A History Of U.S. Monopolies

  4. Antitrust Defined
    Personal Finance

    Antitrust Defined

comments powered by Disqus
Hot Definitions
  1. Takeover

    A corporate action where an acquiring company makes a bid for an acquiree. If the target company is publicly traded, the ...
  2. Harvest Strategy

    A strategy in which investment in a particular line of business is reduced or eliminated because the revenue brought in by ...
  3. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  4. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
  5. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
  6. Budget Deficit

    A status of financial health in which expenditures exceed revenue. The term "budget deficit" is most commonly used to refer ...
Trading Center