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 ?
Businesses of all sizes need to take competition law seriously.
The Commission wants to help businesses confidently instill a culture of compliance within their organisations and, for this purpose, will be doing similar workshops with other businesses to promote voluntary compliance with competition law.
It is not a finding that MSD has infringed competition law and MSD welcomes the opportunity to respond.
Shahzad Ansar, Member Office of Fair Trade (OFT) and Advocacy, in his remarks urged the need for active collaboration between CCP and academia for creating awareness of the competition law.
Guidance from foreign jurisdictions with similar antitrust or competition laws suggests the following: (1) Immediately stop the conversation; (2) Point out it is your company's policy to comply with the competition law; (3) If the person insists, immediately leave the meeting and ensure that your objection is documented; (4) Do not disseminate internally any sensitive information you have received; (5) Immediately inform your supervisor of the incident and explain your actions in writing; and (6) Determine, with the help of your legal staff, additional steps that need to be taken.
antitrust law and EU competition law have not ceased to provoke criticisms from antitrust practitioners and academic commentators alike.
Until these key issues are clarified, the full extent of the effect of the Competition Law cannot be completely understood.
Marian Cree, CMA representative in Northern Ireland, said: "The CMA recognises that most businesses want to comply with competition law and is keen to support businesses here in doing so.
Instead, legal provisions dealing with competition law issues, consumer protection, and the prevention of unfair trade practices are contained in various laws.
The focus of this supplement is the cement case as raising many of the most fundamental issues in terms of the right approach to evidence, analysis and policy facing Indian competition law enforcement to date.
This cooperation aims to enhance an environment in which the sound and effective enforcement of competition law and policy supports the efficient operation of markets and economic welfare of the citizens.