EXPLANATORY NOTE
Our people have been victims of big business. I t behooves the Senate to provide protection to our people against price manipulators.
In Article XII, Section 19, our Constitution provides:
"Section 19. The State shall regulate or prohibit monopolies when the public interest so requires. No combinations in restraint of trade or unfair competition shall be allowed."
Section 22 of the Constitution provides:
"Section 22. Acts which circumvent or negate any of the provisions of this Article shall be considered inimical to the national interest and subject to criminal and civil sanctions, as may be provided by law."
Although previous legislations have been passed pursuant to this Constitutional mandate, the increased deviousness and complexity of schemes in perpetuating monopolies in the free market landscape necessitate an equally sophisticated legislation that would effectively address this concern.
Generally, this bill penalizes combinations or conspiracies in restraint of trade and all forms of artificial machinations that will injure, destroy or prevent free market competition.
Sponsored by:
Sen. JUAN PONCE ENRILE
