Competition Law

Question 1

What is the statute surrounding competition law?

Answer 1

Competition law is governed by the Treaty of the Functioning of the European Union

enshrined in UK law by:
Competition Act 1998 and
Enterprise Act 2002.

Question 2

What are the aims of competition law?

Answer 2

Competition Law aims to protect consumers and businesses to ensure that no single provider takes advantage of their dominant position in the marketplace.

Question 3

What statutory provision exists against restricting or distorting competition?

Answer 3

Chapter I of the The Competition Act 1998 prohibits agreements which are intended to, or have the effect of, restricting or distorting competition.

Question 4

Who is the regulatory body in the UK as regards Competition Law?

Answer 4

Enforcement of the Competition Act 1998 and the Enterprise Act 2002 is the responsibility of the Office of Fair Trading.

Question 5

What Criminal offences arise from the Enterprise Act 2002?

Answer 5

The Enterprise Act 2002 provides that individuals who engage in :

price-fixing
limitation of supply or production
market sharing or bid-rigging

can face criminal prosecution.