The Competition Commission is an independent body responsible for investigating mergers, market shares and conditions and the regulation of firms under United Kingdom competition law. The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,is a Sovereign state located It is a non-departmental public body (NDPB) under the Department of Trade and Industry. In the United Kingdom, a Non-Departmental Public Body (NDPB is a classification applied by the Cabinet Office, Treasury and Scottish Government The Department of Trade and Industry was a United Kingdom government department which was disbanded with the announcement of the creation of the Department for Business
The Commission replaced the Monopolies and Mergers Commission on April 1 1999. It was created by the Competition Act of 1998. This Act created a competition law structure similar to that detailed in the European Treaty. Such as Chapter 1 which prohibited anti-competitive agreements within a market, for example cartels. A cartel is a formal (explicit agreement among firms Cartels usually occur in an oligopolistic industry, where there is a small number of sellers and usually involve And in Chapter 2, the prohibition of abuse of a dominant position within a market.
The Commission has no authority to commence investigations on its own, an inquiry commences following the referral of a particular case to the Commission, most often by the Office of Fair Trading (OFT). The Office of Fair Trading ( OFT) is a Non-ministerial government department of the United Kingdom, established by the Fair Trading Act 1973, Inquries may also result from referrals from the Secretary of State for Trade and Industry (e. The Secretary of State for Business Enterprise and Regulatory Reform (formerly the Secretary of State for Trade and Industry before the June 28, 2007 g. Morrison bid for Safeway supermarkets) or independent regulators. Wm Morrison Supermarkets PLC ( is the fourth largest chain of Supermarkets in the United Kingdom. Safeway was a chain of Supermarkets and Convenience stores in the United Kingdom. For mergers the Commission will be asked to investigate if the takeover target has a turnover above a certain threshold or if the resulting company would have 25% or more of a market, i. e. a monopoly position. In Economics, a monopoly (from Greek monos, alone or single + polein, to sell exists when a specific individual or enterprise has sufficient
Details of the reports by the Commission are available on its website.
These people Chair the inquiries of the Commission & have authority over the Commission Members and Inquiry Staff:
Chairman: Peter Freeman
Deputy Chairperson: Diana Guy, Christopher Clarke and Peter Davis.
And the Council of the Commission with the Chief Executive, Martin Stanley, reporting to it, has control over the Inquiry staff and Support Functions and administration of the Commission.
See also
External links
Details of the reports by the Commission are available on its website. A competition regulator is a Government agency, typically a statutory authority, sometimes called an economic regulator, which regulates and enforces The Consumers' Association, which trades as Which?, is a charity registered in England and Wales No 296072 Consumer protection is a form of Government Regulation which protects the interests of Consumers For example a government may require businesses to disclose detailed
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