The Competition Act 1998 reforms UK competition law bringing it into line with EC law. It sets up a new regulatory structure and appeals process. Competition authorities will have extensive powers to investigate breaches and search premises. Businesses previously exempt from EC competition rules on price fixing,market sharing or other anti-competitive practices will now be more vulnerable and pro-competitive co-operative arrangements may also be caught. Infringements can lead to fines of up to 10 per cent of UK annual turnover. Compliance, although costly, is essential. This is a clear, practical and authoritative analysis of the Act, including full references to the OFT Guidelines and relevant case law.
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