The Competition Act (1998) and Related Regulatory Framework

Abstract

Among the institutional and legislative reforms of the Labour government, there is the question of the protection of competition. As in other fields, the aim was to provide the country with a system for governing the economy based on independent, transparent and accountable entities with broad enforcement powers. As already noted in Chapter 4, in this field specific legislation does not exist for the banking sector, which is considered on a par with any other productive sector, apart from one important exception concerning agreements and abuses of dominant position, as will be shown below.