Monday, March 16, 2015

MyCC tells Professional Bodies to dismantle Scale of Fees

The Malaysia Competition Commission (MyCC) has issued letters to four professional bodies requiring them to dismantle their scale of fees in order to uphold the spirit of competition law. MyCC was of the view that scales of fees fixed by professional bodies were contrary to the provision of Competition Act 2010 (CA 2010). It said the Malaysian Institute of Arbitrators (MIArb) had already dismantled their scale of fees.
MyCC is reported to have given each professional body up to 30 days to comply with its requirements for the dismantling of the fees.
As part of the engagement process with the professional bodies on the fixing of scale of fees, MyCC conducted a public consultation session on May 19, 2014.
MyCC conducted a study on professional bodies which can be found here.
Source: MyCC