The Statutes of the new Competition Authority have been published, being approved by Decree-Law no. 10/2003 of 18 January, whereby it is assumed that the Authority is able to play a full role regarding its duties within 60 days from the date of entry into force of that statutory instrument.
The Authority ? a legal person governed by public law, of an institutional nature, enjoying its own equity capital as well as administrative and financial independence ? shall be responsible for applying competition rules, in compliance with the principles of market economy and of free competition, having view to an effective functioning of the market, an efficient allocation of resources and consumer interests. On that purpose, the Competition Authority has powers to impose penalties, supervise and regulate.
At the same time, the Competition Council has been dissolved, being incumbent upon the Authority the tasks conferred to the Directorate-General for Commerce and Competition, that shall perform in the meanwhile the competences that do not conflict with those assigned to the Competition Authority.
The articulation with the sectorial regulatory authorities, ICP-ANACOM included, is specifically foreseen, being stated that the Competition Authority shall perform within its scope without prejudice to the legal framework it is subject.
