competition law

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competition law

a body of legislation providing for the control of monopolies/ market dominance, mergers and takeovers, anti-competitive agreements/restrictive trade agreements and anti-competitive practices. UK legislation aimed at controlling ‘abusive’ MARKET CONDUCT by monopolistic firms and firms acting in COLLUSION was first introduced in 1948 (The Monopolies and Restrictive Practices (Inquiry and Control) Act), while powers to control undesirable changes in MARKET STRUCTURE were added in 1965 (The Monopolies and Mergers Act). Other notable legislation concerning the control of collusion were the Restrictive Trade Practice Acts of 1956,1968 and 1976.

Current competition law in the UK is contained in a number of Acts:

FAIR TRADING ACT, 1973, ENTERPRISE ACT, 2002, (applying to mergers and takeovers) COMPETITION ACT, 1980 (applying to anti-competitive practices) COMPETITION ACT 1998 (applying to monopolies/market dominance and anti-competitive agreements/restrictive trade agreements) RESALE PRICES ACTS, 1964,1976 (applying to resale price maintenance) These laws are currently administered by the OFFICE OF FAIR TRADING and the COMPETITION COMMISSION (formerly the MONOPOLIES AND MERGERS COMMISSION). See also RESTRICTIVE PRACTICES COURT.

In the EUROPEAN UNION, competition law is enshrined in Articles 85 and 86 of the Treaty of Rome (1958) and the 1980 Merger Regulation. These laws are administered by the European Commission's Competition-Directorate. See COMPETITION POLICY, COMPETITION POLICY (UK), COMPETITION POLICY (EU) COMPLEX MONOPOLY.

competition law

a body of legislation providing for the control of monopolies/ market dominance, mergers and takeovers, anti-competitive agreements/restrictive trade agreements and anti-competitive practices. UK legislation aimed at controlling ‘abusive’ MARKET CONDUCT by monopolistic firms and firms acting in COLLUSION was first introduced in 1948 (The Monopolies and Restrictive Practices (Inquiry and Control) Act), while powers to control undesirable changes in MARKET STRUCTURE were added in 1965 (The Monopolies and Mergers Act). Other notable legislation concerning the control of collusion were the Restrictive Trade Practice Acts of 1956, 1968 and 1976.

Current competition law in the UK is contained in a number of Acts:

FAIR TRADING ACT 1973

(applying to mergers and takeovers)

COMPETITION ACT 1980

(applying to anti-competitive practices)

COMPETITION ACT 1998

(applying to monopolies/market dominance and anti-competitive agreements/restrictive trade agreements)

RESALE PRICES ACTS 1964, 1976

(applying to resale price maintenance)

ENTERPRISE ACT 2002

(applying to mergers/takeovers and anticompetitive agreements) se laws are currently administered by the OFFICE OF FAIR TRADING and the COMPETITION COMMISSION (formerly the MONOPOLIES AND MERGERS COMMISSION).

See alsoRESTRICTIVE PRACTICES COURT.

In the EUROPEAN UNION, competition law is enshrined in Articles 85 and 86 of the Treaty of Rome (1958) and the 1980 Merger Regulation. These laws are administered by the European Commission's Competition Directorate. See COMPETITION POLICY, COMPETITION POLICY (UK), COMPETITION POLICY (EU), COMPLEX MONOPOLY.

References in periodicals archive ?
The anti-trust bill, now approved by both House and Senate, aims to check monopolistic practices in the business sector.
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