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 ?
Bill Gates, founder and chairman of Microsoft, is furious that the EU is interfering at all when Microsoft is already subject to anti-trust laws in America.
Dan Kennedy, in the Boston Phoenix, disputes Meyerson, pointing out that this is a breathtakingly broad view of anti-trust law, a law intended "not to protect political viewpoints but, rather, advertisers, who would presumably be hurt by the monopolization of the alt-weekly market in a given community.
You can be assured that if we conclude that the venture violates the anti-trust laws, we will take appropriate action," Klein wrote in a letter to state officials.
With this effect now being felt, it is also interesting to note that all areas of anti-trust law have been increasing this year, including compliance, State aid and collaborative arrangements.
According to the Commission, the fees for Siberian overflights run counter to international aviation law (Chicago Convention) and to EU anti-trust law, which establishes that airlines may not be obliged to sign commercial agreements with a direct competitor.
The overwhelming congressional support for the anti-trust law is ironic, as legislators recently approved a bill that consolidates the control of Mexico's two largest networks over the broadcast waves (see SourceMex, 2006-04-05).
The course will discuss anti-trust law implications, fair housing practices, rent regulation, etc.
The judge ruled on April 3 that Microsoft had violated federal anti-trust law by using illegal methods to protect a monopoly in computer operating systems.
Article 82 represents in many respects probably the most rapidly evolving area of EU anti-trust law.
This draft law has nothing to do with the consumer protection law or the anti-trust law as these two laws are totally separate from the new draft law on manufacturer-distributor or dealer relationship, said Minister of Commerce and Industry Dr.
For how can these people intelligently deliberate on the Senate floor such complex laws as the Anti-Trust Law or the Securities Act, which, even to the Ivy League graduates, defy easy comprehension?
It was established to provide ethical business practice, with a focus on the prevention of corruption and on compliance with anti-trust law within the banknote industry.