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The Competition and Markets Authority (CMA) is the principal competition regulator in the United Kingdom. It is a non-ministerial government department in the United Kingdom, responsible for promoting competitive markets and tackling unfair behaviour. [ 4 ]
The Digital Markets, Competition and Consumers Act 2024 (c. 13) is an act of the Parliament of the United Kingdom. [1] It amends the Competition Act 1998 and the Enterprise Act 2002. [1] A government press release described it as an act to "stamp out unfair practices and promote competition in digital markets". [2]
According to the same report, in 2007 to 2008 the OFT estimated that its competition enforcement work led to direct savings to consumers worth £77m per year and that its market studies work had saved consumers £98 million in 2007 to 08; [18] the OFT costs for these areas of work in the same year were approximately £26 million of its £78 ...
On 17 December 2020, the United Kingdom Internal Market Act 2020 received royal assent. Part 4 of the Act sets out arrangements for the creation the Office of the Internal Market within the Competition and Markets Authority. [6] On 22 March 2021, the Competition and Markets Authority appointed Rachel Merelie as the Senior Director for the OIM. [7]
Even so, the pre-Brexit section 60 of the Competition Act 1998 provides that UK rules are to be applied in line with European jurisprudence. Like all competition law, that in the UK has three main tasks. prohibiting agreements or practices that restrict free trading and competition between business entities.
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The Competition Act 1998 (c. 41) is the current major source of competition law in the United Kingdom, along with the Enterprise Act 2002. The act provides an updated framework for identifying and dealing with restrictive business practices and abuse of a dominant market position.
The Competition Appeal Tribunal (CAT) of the United Kingdom was created by Section 12 and Schedule 2 to the Enterprise Act 2002 which came into force on 1 April 2003. The Competition Service is an executive non-departmental public body which was created as a support body for the Competition Appeal Tribunal.