Competition Commission argues for extraterritorial jurisdiction in rand manipulation case [SOUND]

# The Competition Commission says jurisdiction under the Competition Act is primarily statutory. Senior counsel Tembeka Ngcukaitobi told the Constitutional Court that the Act applies to all economic activity within South Africa, and also conduct outside the country if it affects the Republic. He argued that markets ignore borders, and stressed that the Act provides for extraterritorial application to protect consumers from anti-competitive practices: