Office of Fair Trading

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Office of Fair Trading

an authority established by the FAIR TRADING ACT 1973, to administer all aspects of UK COMPETITION POLICY, specifically the control of MONOPOLIES. MERGERS and TAKEOVERS, ANTICOMPETITIVE AGREEMENTS/ RESTRICTIVE TRADE AGREEMENTS, RESALE PRICES and ANTI-COMPETITIVE PRACTICES. The OFT, headed by the Director General of Fair Trading, collects data on industrial structure, monitors changes in market concentration and merger and takeover activity, and investigates and acts on information received from interested parties concerning allegedly ‘abusive'behaviour in respect of trade practices, prices, discounts and other terms and conditions of sale. Where appropriate, the OFT may decide to refer particular cases for further investigation and report to the COMPETITION COMMISSION. The OFT also has other main responsibilities with regard to the protection of consumers' interests generally, including taking action against unscrupulous trade practices such as false description of goods and inaccurate weights and measures, and the regulation of consumer credit. See CONSUMER PROTECTION. TRADE DESCRIPTIONS ACTS 1968 AND 1972, WEIGHTS AND MEASURES ACT 1963, CONSUMER CREDIT ACT 1974, ESTATE AGENCY ACT 1979. CONTROL OF MISLEADING ADVERTISEMENTS REGULATIONS 1988.

Office of Fair Trading (OFT)

an authority established by the FAIR TRADING ACT 1973 to administer all aspects of UK COMPETITION POLICY, specifically the control of MONOPOLIES/MARKET DOMINANCE, MERGERS and TAKEOVERS, ANTICOMPETITIVE AGREEMENTS/RESTRICTIVE TRADE AGREEMENTS, RESALE PRICES and ANTI-COMPETITIVE PRICES. The OFT, headed by the Director General of Fair Trading, collects data on industrial structure, monitors changes in market concentration and merger and takeover activity, and investigates and acts on information received from interested parties concerning allegedly ‘abusive’ behaviour in respect of trade practices, prices, discounts and other terms and conditions of sale. Where appropriate, the OFT may decide to refer particular cases for further investigation and report to the COMPETITION COMMISSION. The Office of Fair Trading also has other main responsibilities with regard to the protection of consumers’ interests generally, including taking action against unscrupulous trade practices, such as false descriptions of goods and inaccurate weights and measures, and the regulation of consumer credit. See CONSUMER PROTECTION, TRADE DESCRIPTIONS ACT 1968,1972, WEIGHTS AND MEASURES ACT 1963, CONSUMER CREDIT ACT 1974.
References in periodicals archive ?
The presentations by CCP included an animation on Competition Law, a brief overview of the evolution of Competition Policy and Law worldwide by Ahmed Qadir, the Director General Competition Policy and Research and International Affairs CCP, an outline of the Pakistan's Competition Law by Syed Umair Javed, the Registrar and Director Legal CCP, and an interesting presentation on the role of the Office of Fair Trade (OFT) in curbing deceptive marketing practices by Dr.
The Office of Fair Trade is not referring the completed acquisition to the Competition Commission because it is considering whether, instead of making a reference, to accept appropriate undertakings from William Hill,' the OFT said in a statement.
RICS argued that while the legislation is a step in the right direction, it is merely a knee-jerk reaction to the Office of Fair Trade report on residential estate agency published earlier this year, and the industry needs a more comprehensive review.

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