Economic Development Minister, Ebrahim Patel says the new Competition Amendment Bill is aimed at levelling the playing fields of economic transformation between small businesses and established conglomerates.
The revised Bill is now before Parliament for further consideration.
Patel says the Bill strengthens the powers of competition authorities to combat anti-competitive activities.
He says the Bill submitted to parliament is an appropriate reflection of the balance between the interests of social partners and the policy imperatives of government.
In addition he says: “We now have this major potential controversial piece of legislation. We feel through social dialogue, understanding and acceptance, we can strike a balance between these imbalances.”
He say this Competition Amendment Bill is a new deal for economic transformation and inclusion.