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 ?
CCP is mandated under Section 29 of the Competition Act, 2010 to take steps for creating awareness and understanding of the Competition Law for promoting a culture of competition.
THE APPLICATION OF COMPETITION LAW TO STATE MONOPOLIES ABUSIVE
Information exchange between competitors is an extremely sensitive subject which, unless extreme caution is exercised, can lead to accusations of serious breaches of competition law and to the potential of severe sanctions being imposed.
The recently drafted competition law has been deeply influenced by the input of the two parties' working group.
Khalid Ranjha in his speech emphasised the need to implement competition law in letter and spirit and ensure the independence of the Competition Commission of Pakistan, as it is crucial for the economic development.
The second group is made up of countries which have just adopted competition laws; and the third one comprises those countries which have not made competition laws yet but plan to do so.
The current guidance indicates that the OFT or regulator would focus on cases where a director was directly involved in breaching competition law.
Competition law partner Alan Davis said: "Given the five-year investigation into alleged bid-rigging in the sector, this code of conduct is a good thing for the industry and this is a good time for construction companies to put a competition law compliance programme in place.
lt;p>"The competition law was issued as a temporary legislation on August 15, 2002 and became effective since that date.
IP law aims to protect and reward proprietors by granting monopoly rights or rights to exclude competition; competition law seeks to encourage the free movement of goods and promote competition within the EU.
In September 2007, Bags and four bookmakers issued a claim against Amrac and 30 of the 31 racecourses, alleging the courses had infringed competition law by collectively selling media rights exclusively to TurfTV.
According to the European Court of Justice's ruling in the Meca Medina case, the regulatory aspects of sports subject to review against competition law can only be evaluated on a case-by-case basis.