Enterprise Act 2002


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Enterprise Act 2002

a UK Act that extended UK COMPETITION LAW to provide tougher powers to control cartels and anticompetitive behaviour and independence in merger references. Firstly, under the Act anticompetitive practices such as price-fixing and bid-rigging constitute a criminal offence, punishable by the imprisonment of guilty company officials, and the OFFICE OF FAIR TRADING (OFT) was given new powers to use surveillance techniques to flush out conspiracies. Secondly, the instigation of merger references is now solely the responsibility of the OFT. Previously, merger references were decided by the OFT acting in conjunction with the Secretary of State for Trade and Industry. This had led to complaints of ‘political’ interference rather than cases being referred purely on competition grounds.

In addition, the Act established the COMPETITION APPEALS TRIBUNAL, an independent body separate from the OFT and Competition Commission (CC) to hear appeals against decisions taken by these two regulators.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Directions are a formal enforcement instrument, which can be used to ensure that an Enterprise Act 2002 remedy imposed by the CMA, in this case the PPI Order, is complied with fully.
to a Phase 2 investigation under the provisions of the Enterprise Act 2002, the CMA said.
Trading Standards officers also took action against seven people who breached the Enterprise Act 2002, with the offences amounting to around PS59,000.
21st Century Fox noted an announcement by the Secretary of State for Digital, Culture, Media and Sport approving the proposed acquisition by 21CF for the fully diluted share capital of Sky which 21CF and its affiliates do not already own, subject to undertakings accepted under paragraph 9 of Schedule 2 of the Enterprise Act 2002 Order 2003.
The CMA announced on It October that the solutions offered would be accepted under the Enterprise Act 2002.
[9] Inga West and Ross Miller, Enterprise Act 2002: issues for Secured Lenders Journal of International Banking Law and Regulation 2004
He appeared at the court on Thursday September 29 where he signed an undertaking to trade fairly, under the Enterprise Act 2002, on behalf of himself and the two companies of which he is a director; Prestige Autohaus Ltd and Prestige Motoring World Ltd (trading as Coventry Car Mart, Coventry Auto Lounge and Prestige Auto Lounge).
has used its powers under the Enterprise Act 2002 to launched a super complaint over how the rail industry compensates passengers.
Essentially an extension of rights that have existed under the Competition Act 1998 and also the Enterprise Act 2002, the idea is that consumers and consumer groups like Which can bring USA-style class actions against companies which have infringed their rights.
(7) Enterprise Act 2002, [section] 5, available at http://www.legislation.gov.uk/ ukpga/2002/40.
A statement to the Stock Exchange yesterday read: "The OFT is considering whether arrangements are in progress or in contemplation which, if carried into effect, will result in the creation of a relevant merger situation under the Enterprise Act 2002 and, if so, whether that situation might be expected to result in a substantial lessening of competition."

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