The Edition
facebook icon twitter icon instagram icon linkedin icon

Latest

President Solih ratifies 2 new Acts, 1 amendment

Shahudha Mohamed
31 August 2020, MVT 20:21
President Ibrahim Mohamed Solih ratifies a bill passed by the Parliament. PHOTO/PRESIDENT'S OFFICE
Shahudha Mohamed
31 August 2020, MVT 20:21

President Ibrahim Mohamed Solih, on Monday, ratified the Consumer Protection Act, Competition Act and the fourth amendment to the Land Transportation Act.

The parliament approved the aforementioned bills on August 18, at the 28th sitting of the second session.

The Competition Act promotes positive competition and fair business practices while discouraging monopolistic or oligopolistic trends in the market that would hinder economic growth.

In addition, this Act stipulates procedures to hold violators accountable, including prohibiting corporate entities from influencing the market for unlawful gains, and preventing powerful corporations from abusing their market influence to force competitors to merge with them, in addition to allowing authorities to take measures to sustain a competitive business environment.

The Consumer Protection Act delineates the rights of consumers when purchasing goods and services, and the measures to be taken to protect these rights.

Under this Act, consumers are protected from false advertising and discrimination in the sale of goods and services. The Act enforces provisions relevant to product safety and reprisals for damaged or defective goods. It also mandates that an ombudsman must be appointed, tasked with ensuring businesses’ adherence to its provisions and enforcing compensation to consumers when necessary.

The fourth amendment to the Land Transportation Act (Act no: 5/2009) ratified by the president, adds an annex establishing a reporting mechanism for grievances resulting from traffic violations.

Moreover, the Act stipulates that unpaid traffic fines are deemed as civil debts payable to the state, and grants powers to Maldives Inland Revenue Authority (MIRA) to pursue the recovery of unpaid dues through litigation.

Share this story

Discuss

MORE ON NEWS