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Saudi Arabia's Competition Law

May 2005 - EU & Competition. Legal Developments by A&L Goodbody.

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1. SUMMARY

1.1 Introduction
Businesses in Saudi Arabia have until 21/5/1426 H / 28 June 2005 to comply with the provisions of the Competition Law enacted last year, notwithstanding that the Implementing Regulations have yet to be issued. This presents a clear challenge.

Nonetheless, with fines of up to Saudi Riyals five million (SR 5,000,000) for first-time violations of the Competition Law, its terms merit close attention and timely compliance. Businesses should adjust their practices to comply with the Competition Law at the earliest opportunity.