The Legislative Framework

Abstract

The British and European Union competition laws do no more than set a framework within which competition policy operates. They are framed in terms which are often too broad to convey to business executives more than the most general indication of what is expected of them. Their main purpose is to set up regulatory agencies, to define the limits of their operation, to provide them with broad objectives and guidelines, and to determine their procedures. What little they do have to say about business practices is nevertheless a major influence on the conduct of the regulatory authorities.