Business, Legal & Accounting Glossary
The Competition Commission is an independent public body established by the Competition Act 1998. It replaced the Monopolies and Mergers Commission in April 1999. The Commission conducts inquiries into mergers, markets and the regulation of the major regulated industries. Inquiries are undertaken in response to a reference made to it by another authority – usually by the Office of Fair Trading (OFT) the Secretary of State, or by the regulators under sector-specific legislative provisions relating to regulated industries. The Commission has no power to conduct inquiries on its own initiative.
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This glossary post was last updated: 26th April, 2020 | 0 Views.