Page 2: United Kingdom competition law
United Kingdom (UK) competition law is a flexible instrument. With one exception, the legislation is based on the premise that each case should be judged by the actual effect which a practice has on competition and whether it is against the public interest. The public interest has a broad meaning and is not precisely defined in the legislation.
UK competition law involves a range of legislation but at its core there are four principal Acts of Parliament, each dealing with a separate aspect of competition policy.
Fair Trading Act 1973 deals with mergers and abuses of monopoly power in a market.
Competition Act 1980 deals with anti- competitive practices by particular companies.
Restrictive Trade Practices Act 1976 deals with - agreements that restrict persons or companies from competing freely.
Resale Prices Act 1976 deals with attempts to impose minimum prices at which goods can be resold.