QuestionsQuestions (Act No. 3247)
Section 1 declares illegal every agreement, contract, conspiracy, or combination (in the form of trust or otherwise) that restrains trade or commerce, or is intended to prevent or prevent by artificial means free competition in the market.
Punishable by fine not exceeding five thousand pesos, or imprisonment not exceeding one year, or both, at the discretion of the court.
Section 2 penalizes monopolizing, attempting to monopolize, or combining/conspiring with others to monopolize by artificial means any part of trade or commerce by restraining free competition in the market.
Fine not exceeding five thousand pesos, or imprisonment not exceeding one year, or both at the court’s discretion.
It is illegal and void when made by or between two or more persons either of whom is engaged in importing from a foreign country into the Philippines, and when intended to restrain lawful trade/free competition or to increase the market price in any part of the Philippines of the imported articles or products into which they enter.
The combination/contract must be intended to operate in restraint of lawful trade or free competition in lawful trade/commerce, or intended to increase the market price of the imported article or related manufacture.
Any person engaged in the importation of goods or commodities in violation of Section 3, and anyone who combines or conspires with another to violate the same.
Fine not exceeding five thousand pesos, or imprisonment not exceeding one year, or both, at the court’s discretion.
The Supreme Court and the Courts of First Instance have concurrent jurisdiction to prevent and restrain violations; the Attorney-General, the City Fiscal of Manila, and provincial fiscals (or their substitutes) must institute proceedings.
Proceedings may be by way of a petition seeking that the violation be enjoined or otherwise prohibited.
After due notification and pending the petition (before final decree), the court may at any time issue a temporary restraining order or prohibition as just under the circumstances.
Any property owned under such contract/combination/pursuant to a conspiracy, as subject of Sections 1 and 3, is forfeited to the Government of the Philippine Islands.
A person injured in business or property may recover threefold the damages sustained, plus costs of suit and a reasonable attorney’s fee.
“Person” or “persons” includes corporations and associations.
The Act takes effect on its approval.
Section 1 targets agreements/contracts/conspiracies/combination that restrain trade or commerce or prevent free competition by artificial means. Section 2 targets monopolization or attempts to monopolize (or conspiring to monopolize) by artificial means restraining free competition in the market.