Competition Law

In this Law, the following terms shall have the meanings assigned thereto, unless the context requires otherwise: Law: Competition Law. Authority: General Authority for Competition. Board: The Authority's Board of Directors. Chairman: The Chairman of the Board. Governor: The Authority's Governor. Regulations: Implementing Regulations of the Law. Entity: Any natural or legal person engaged in an economic activity, including commercial, agricultural, industrial, and service activities, as well as the purchase and sale of goods and services. Market: A physical place or any other medium where a group of current and prospective buyers and sellers meet within a specified period. Dominant Position: A situation in which an entity, or a group of entities, influences the market or controls a certain percentage thereof. The Regulations shall determine such percentage in accordance with criteria approved by the Board. Economic Concentration: Any activity that results in the total or partial transfer of ownership of assets, rights, stocks, shares, or obligations of an entity to another, or in the combining of two or more managements into one joint management, in accordance with the Regulations. Committee: The Committee for Adjudication of Violations of the Law.