Collas Crill prepares for Guernsey's new competition law and recommends businesses do the same.

"Guernsey businesses should assess their market position and behaviour to ensure compliance with the island's new Competition Law", says Wayne Atkinson of Collas Crill's newly formed competition team.

The new law, effective 1 August, prohibits anti-competitive agreements, ensures that businesses in a market do not abuse a dominant position and requires that certain mergers and acquisitions be approved by the relevant authorities.

The overarching aim of the competition law is to protect consumers' interests, promote healthy competition and enable markets to work better in the interests of the consumer and the Guernsey economy.

Wayne explained "with the Competition Law coming into force we suggest that businesses use this as an opportunity to consider their behaviour and position in the marketplace. Those that use price fixing of any kind, or have arrangements with competitors limiting or controlling their output are likely to be in violation of the new law and anyone planning any kind of merger or takeover of another business would be advised to take legal advice early on."

The legislation has led to the creation of the Guernsey Competition and Regulatory Authority which will work with the Jersey Competition and Regulatory Authority under the title of the Channel Islands Competition and Regulatory Authorities ("CICRA").

As a result of the new legislation and combined approach of CICRA, Collas Crill has formed a competition team led by Collas Crill managing partner Jason Romer (pictured), to assist businesses in both Guernsey and Jersey. The new team combines the firm's historic expertise in relation to Jersey's competition law and Guernsey utilities regulation with Guernsey lawyers from the firms risk and regulatory practice.

In Guernsey, Collas Crill has been involved in all the major appeals and disputes that regulated entities have had with the utilities regulator. They are ideally placed to bring this and other relevant experience to the new competition law, the principles of which mirror many utilities regulation principles.

Jason Romer said "we are lucky to have lawyers with experience in dealing with this sort of legislation and regulation in jurisdictions around the world including Guernsey, Jersey, Alderney and Sark. Bringing that expertise together around the table as part of a unified team will give us a great reserve of knowledge to draw on for our clients' benefit as we advise how the new law affects them."