Fair Trading Commission Explained

Agency Name:Fair Trading Commission
Formed:2 January 2001
Preceding1:Public Utilities Board
Jurisdiction:Barbados
Headquarters:Good Hope, Green Hill Saint Michael, Barbados
Chief1 Name:Mrs. Tammy Bryan
Chief1 Position:Chairperson
Chief2 Name:Dr. Donley Carrington
Chief2 Position:Deputy Chairperson
Parent Agency:Ministry of Energy and Business Development
Website:Fair Trading Commission

The Fair Trading Commission (FTC) is a Barbadian independent government agency under the Ministry of Energy and Business Development. It is responsible for competition policy, trade practices, formulating fair trade policy, laws, regulations and investigating activities restricting competition, such as monopolies, mergers, collusions, and other unfair trade practices on the part of enterprises. It also determines principles, rates and standards of service for regulated service providers.

Additionally aims to educate and inform businesses and consumers about the requirements of the fair trading acts.

History

In 1955, the Public Utilities Board was established within Barbados to help regulate various public utilities.[1] However, by the turn of the century, it was determined that there was a need for a regulatory body with a wider mandate to help regulate areas such as business competition and consumers rights in general.

The Fair Trading Commission Act was passed on 31 December 2001 by the then Owen Arthur Administration to address these new requirements.[2] [3] The act came into force on 2 January 2001, replacing the Public Utilities Board with the Fair Trading Commission.[4]

Primary Duties

Chairpersons

See also

Notes and References

  1. Web site: GOV.BB . 2022-05-27 . www.gov.bb.
  2. Web site: Fair Trading Commission. sice.oas.org.
  3. Web site: GOV.BB . 2022-05-27 . www.gov.bb.
  4. Web site: About Us . 2022-05-27 . Fair Trading Commission.