BUSINESS LEGISLATION
Apart from being bound by legislation of the Danish Commonwealth, the business area is regulated by a number of laws passed by Inatsisartut, the Greenlandic parliament. This legislation is administered by the Ministry of Industry and Mineral Resources.
The Trade Act
The Trade Act came into force in 2002 and was most recently amended in 2006 with the introduction of the requirement to register with the Greenlandic Business Register (GER). Read more about this below. The act applies to permanent businesses and invitations to tender of work of a certain duration.
The act does not, however, apply to the Greenlandic food markets or trade concerning fishing, catching, and hunting.
The Greenlandic Business Register
The Greenlandic Business Register, GER, is the central register containing basic data on all companies and self-employed persons in Greenland.
The purpose of the register is to:
Competition Legislation
The Home Rule Government of Greenland took over responsibility for legislation concerning competition in 1986. The current Competition Act is intended to promote competition and enhance efficiency in the production and in the circulation of goods and services. The act is administered by the Competition Board.
Table 1
Cases Reviewed by the Competition Board of Greenland
|
|
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
|
Cases received |
50 |
35 |
21 |
30 |
26 |
33 |
29 |
96 |
|
Rulings |
49 |
35 |
13 |
25 |
23 |
40 |
27 |
71 |
Source: The joint secretariat for the Competition Board and The Consumer Council of Greenland
Links
Read more about the competition board at www.unammineq.gl