Enterprise Act 2002: Market Investigations
Mondaq Business Briefing › United Kingdom Law Articles in English (2003)
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Enterprise Act 2002: Market Investigations
The market investigation provisions of the Enterprise Act 2002 replace the monopoly provisions of the Fair Trading Act 1973 (the "FTA"). The market investigation provisions of the Act ensure that designated UK competition authorities continue to have the power to investigate markets without the need to show, as would be required for investigation under Chapter II of the CA98, an agreement between the firms in the market or any abuse of a dominant position (held either by a single firm or multiple firms).
The new market investigations regime - like its predecessor - comprises two stages: an initial investigation of potential problems in a market by the Office of Fair Trading (the "OFT"), and, if necessary, a reference to the Competition Commission ("CC") for fuller investigation. If the CC investigation results in adverse findings, there is scope for remedies to be adopted. They are essentially forward looking, and do not have the effect of declaring firms' past conduct to have been unlawful. In this respect, the regime is in stark contrast to the prohibitions in the CA98.The following summary describes the market investigation provisions of the Enterprise Act, and draws attention to the key differences from the previously applicable monopoly provisions of the FTA.Who can initiate a market inve...See the full content of this document
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