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The English law of restraint of trade is the direct predecessor to modern competition law. [19] Its current use is small, given modern and economically oriented statutes in most common law countries. Its approach was based on the two concepts of prohibiting agreements that ran counter to public policy, unless the reasonableness of an agreement ...
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 Enterprise Act 2002 (c. 40) is an act of the Parliament of the United Kingdom which made major changes to UK competition law with respect to mergers and also changed the law governing insolvency bankruptcy. It made cartels illegal with a maximum prison sentence of 5 years and states that level of competition in a market should be the basis ...
An Act to provide for the regulation of competition in digital markets; to amend the Competition Act 1998 and the Enterprise Act 2002 and to make other provision about competition law; to make provision relating to the protection of consumer rights and to confer further such rights; and for connected purposes. Citation: 2024 c. 13: Introduced by
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 ]
Article 102 under competition law is designed to prevent market abuse. In 2003, merger control was enacted to prevent anti-competitive actions. [4] Article 102 prohibits undertakings that individually or collectively hold a dominant position within the EU or a substantial part of it from abusing their dominance without objective justification insofar as it may affect trade between member ...
Labour, company, competition and insolvency law create general rights for stakeholders, and set a basic framework for enterprise governance, but rules of governance, competition and insolvency are altered in specific enterprises to uphold the public interest, as well as civil and social rights. Universities and schools have traditionally been ...
Following the introduction of the Enterprise Act 2002 the Office of Fair Trading [100] was responsible for enforcing competition law (enshrined in The Competition Act 1998) in the UK. These powers are shared with concurrent sectoral regulators such as Ofgem in energy, Ofcom in telecoms, the ORR in rail and Ofwat in water.