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The first stage of the proposals to amend Canada's competition law just received final reading in the House of Commons. Why, in the face of strong opposition, the government has felt it necessary to proceed with such legislation. The primary objectives of competition policy. The goal of efficiency in the competitive market. The notion of fairness. The role of competition policy as a potential weapon in the long-term battle against inflation. A history and review of the legislation. Provisions relating to misleading advertising. Some deficiencies in the current situation which need to be revised through legislation. The second stage of competition policy which will cover mergers, monopolization, price discrimination, specialization and export agreements, and the reform of the Restrictive Trade Practices Commission. The improvement of Canada's industrial performance.