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Enterprise And Regulatory Reform Act 2013
The Enterprise and Regulatory Reform Act 2013 (c 24), also known as ERRA, is a major Act of the Parliament of the United Kingdom aimed at reforming the regulatory environment faced by small and medium-sized business. It establishes a UK Green Investment Bank (part 1), reformed several aspects of employment law (part 2), cut regulation (part 5) and address a miscellany of other regulatory issues. The Act also strengthens the regulatory settlement on mergers and anti-competitive behaviour (parts 3 and 4). In doing so, part 3 of the Act established a new combined Competition and Markets Authority, which took over the functions of the Office of Fair Trading and the Competition Commission. It received Royal Assent on 25 April 2013. Competition provisions The major feature of the Act was the merger of the Office of Fair Trading (OFT) and Competition Commission to form a single Competition and Markets Authority responsible for both "Phase 1" and "Phase 2" investigations, allowing grea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Act Of The Parliament Of The United Kingdom
In the United Kingdom an act of Parliament is primary legislation passed by the Parliament of the United Kingdom. An act of Parliament can be enforced in all four of the UK constituent countries (England, Scotland, Wales and Northern Ireland); however as a result of devolution the majority of acts that are now passed by Parliament apply either to England and Wales only, or England only; whilst generally acts only relating to constitutional and reserved matters now apply to the whole of the United Kingdom. A draft piece of legislation is called a bill; when this is passed by Parliament and given Royal Assent, it becomes an act and part of statute law. Classification of legislation Acts of Parliament are classified as either "public general acts" or "local and personal acts" (also known as "private acts"). Bills are also classified as "public", "private", or "hybrid". Public general acts Public general acts form the largest category of legislation, in principle a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Green Investment Bank
Green Investment Group Limited (GIG) is a specialist in green infrastructure principal investment, project delivery and the management of portfolio assets, and related services. The business was launched initially by the UK government in 2012 as the first institution of its type in the world. The organisation was acquired by the diversified financial group Macquarie Group Limited in 2017, creating one of Europe's largest teams of dedicated green infrastructure investors, and now operates under the name Green Investment Group. It is structured as a public limited company and is owned by the Macquarie Group. It has offices in London and Edinburgh. History Origins As a result of the Climate Change Act 2008, the United Kingdom became legally committed to significantly reducing its carbon emissions by 2050. More importantly, the Act committed the UK to generating a significantly higher percentage of its energy from renewable sources by 2020. A non-partisan, House of Commons commi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Labour Law
United Kingdom labour law regulates the relations between workers, employers and trade unions. People at work in the UK can rely upon a minimum charter of employment rights, which are found in Acts of Parliament, Regulations, common law and equity. This includes the right to a minimum wage of £9.50 for over-23-year-olds from April 2022 under the National Minimum Wage Act 1998. The Working Time Regulations 1998 give the right to 28 days paid holidays, breaks from work, and attempt to limit long working hours. The Employment Rights Act 1996 gives the right to leave for child care, and the right to request flexible working patterns. The Pensions Act 2008 gives the right to be automatically enrolled in a basic occupational pension, whose funds must be protected according to the Pensions Act 1995. Workers must be able to vote for trustees of their occupational pensions under the Pensions Act 2004. In some enterprises, such as universities, staff can vote for the directors of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition And Markets Authority
The Competition and Markets Authority (CMA) is the competition regulator in United Kingdom. It is a non-ministerial government department in the United Kingdom, responsible for strengthening business competition and preventing and reducing anti-competitive activities. The CMA launched in shadow form on 1 October 2013 and began operating fully on 1 April 2014, when it assumed many of the functions of the previously existing Competition Commission and Office of Fair Trading, which were abolished. Formation On 15 March 2012 the UK Government's Department for Business, Innovation and Skills (BIS) announced proposals for strengthening competition in the UK by merging the Office of Fair Trading and the Competition Commission to create a new single Competition and Markets Authority (CMA). The formation of the CMA was enacted in Part 3 of the Enterprise and Regulatory Reform Act 2013, which received royal assent on 25 April 2013. In July 2012, Lord Currie was appointed chairman desig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of Fair Trading
The Office of Fair Trading (OFT) was a non-ministerial government department of the United Kingdom, established by the Fair Trading Act 1973, which enforced both consumer protection and competition law, acting as the United Kingdom's economic regulator. The OFT's goal was to make markets work well for consumers, ensuring vigorous competition between fair dealing businesses and prohibiting unfair practices such as rogue trading, scams, and cartels. Its role was modified and its powers changed with the Enterprise Act 2002. The Department for Business, Innovation and Skills (BIS) announced reforms to the consumer protection and competition regimes. Under the provisions of the Enterprise and Regulatory Reform Act 2013, the Competition and Markets Authority (CMA) was established on 1 April 2014, combining many of the functions of the OFT and the Competition Commission and superseding both. Regulation for the consumer credit industry passed from the OFT to the new Financial Conduc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition Commission
The Competition Commission was a non-departmental public body responsible for investigating mergers, markets and other enquiries related to regulated industries under competition law in the United Kingdom. It was a competition regulator under the Department for Business, Innovation and Skills (BIS). It was tasked with ensuring healthy competition between companies in the UK for the ultimate benefit of consumers and the economy. The Competition Commission replaced the Monopolies and Mergers Commission on 1 April 1999. It was created by the Competition Act 1998, although the majority of its powers were governed by the Enterprise Act 2002. The Enterprise Act 2002 gave the Competition Commission wider powers and greater independence than the MMC had previously, so that it could make decisions on inquiries rather than giving recommendations to Government, and was also responsible for taking appropriate actions and measures (known as remedies) following inquiries which had identifi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Assent
Royal assent is the method by which a monarch formally approves an act of the legislature, either directly or through an official acting on the monarch's behalf. In some jurisdictions, royal assent is equivalent to promulgation, while in others that is a separate step. Under a modern constitutional monarchy, royal assent is considered little more than a formality. Even in nations such as the United Kingdom, Norway, the Netherlands, Liechtenstein and Monaco which still, in theory, permit their monarch to withhold assent to laws, the monarch almost never does so, except in a dire political emergency or on advice of government. While the power to veto by withholding royal assent was once exercised often by European monarchs, such an occurrence has been very rare since the eighteenth century. Royal assent is typically associated with elaborate ceremony. In the United Kingdom the Sovereign may appear personally in the House of Lords or may appoint Lords Commissioners, who announc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clifford Chance
Clifford Chance LLP is an international law firm headquartered in London, United Kingdom, and a member of the " Magic Circle", a group of London-based multinational law firms. It ranks as one of top ten largest law firms in the world measured both by number of lawyers and revenue. In 2021–22, Clifford Chance had a total revenue of , the highest of any firm in the Magic Circle, and profits per equity partner exceeding £2 million. According to Acuris, as of 2020 Clifford Chance secured the most European M&A mandates, becoming the most popular adviser to top-tier private equity clients in the continent. In the same year it was named International Law Firm of the Year at the International Financial Law Review (IFLR) Europe Awards, part of the Euromoney group. History Clifford Chance was formed by the merger of two London-based law firms. The first was Coward Chance, which derived from a firm established in 1802 by Anthony Brown, a fishmonger's son. Brown's firm became emb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cartel
A cartel is a group of independent market participants who collude with each other in order to improve their profits and dominate the market. Cartels are usually associations in the same sphere of business, and thus an alliance of rivals. Most jurisdictions consider it anti-competitive behavior and have outlawed such practices. Cartel behavior includes price fixing, bid rigging, and reductions in output. The doctrine in economics that analyzes cartels is cartel theory. Cartels are distinguished from other forms of collusion or anti-competitive organization such as corporate mergers. Etymology The word ''cartel'' comes from the Italian word '' cartello'', which means a "leaf of paper" or "placard", and is itself derived from the Latin ''charta'' meaning "card". The Italian word became ''cartel'' in Middle French, which was borrowed into English. In English, the word was originally used for a written agreement between warring nations to regulate the treatment and exchange of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition Act 1998
The Competition Act 1998 is the current major source of competition law in the United Kingdom, along with the Enterprise Act 2002. The act provides an updated framework for identifying and dealing with restrictive business practices and abuse of a dominant market position. One of the main purposes of this act was to harmonise the UK with EU competition policy, with Chapter I and II of the act mirroring the content of Articles 81 and 82 of the Treaty of Amsterdam (formally Articles 85 and 86 of the Treaty of Rome).Note: Arts 81 & 81 have since been renumbered as Arts 101 & 102 Chapter I Prohibitions Deals with restrictive practices engaged by companies operating within the UK that distort, restrict or prevent competition. These are primarily in the form of horizontal agreements (agreements to collude between firms on the same level of the supply chain such as retailers or wholesalers). These agreements could be to limit output, collusively share information, fix prices, ten ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Enterprise Act 2002
The Enterprise Act 2002 is an Act of the Parliament of the United Kingdom which made major changes to UK competition law with respect to mergers and also changed the law governing insolvency bankruptcy. It made cartels illegal with a maximum prison sentence of 5 years and states that level of competition in a market should be the basis for investigation. Structure *Part 1: The Office of Fair Trading (ss 1-11) *Part 2: The Competition Appeal Tribunal (ss 12-21) *Part 3: Mergers **Chapter 1: Duty to make references (ss 22-41) **Chapter 2: Public interest cases (ss 42-58) **Chapter 3: Other special cases (ss 59-70) **Chapter 4: Enforcement (ss 71-95) **Chapter 5: Supplementary (ss 96-130 *Part 4: Market Investigations **Chapter 1: Market investigation references (ss 131-138) **Chapter 2: Public interest cases **Chapter 3: Enforcement **Chapter 4: Supplementary (ss 168-184) *Part 5: The Competition Commission (ss 185-187) *Part 6: Cartel offence (ss 188-202) *Part 7: Miscellaneous ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Department For Business, Innovation And Skills
, type = Department , logo = Department for Business, Innovation and Skills logo.svg , logo_width = 200px , logo_caption = , picture = File:Лондан. 2014. Жнівень 26.JPG , seal = , seal_width = , seal_caption = , formed = 5 June 2009 , , preceding1 = Department for Business, Enterprise and Regulatory Reform Department for Innovation, Universities and Skills , dissolved = 14 July 2016 , superseding = Department for Business, Energy and Industrial Strategy; Department for International Trade , jurisdiction = United Kingdom , headquarters = 1, Victoria Street, London , employees = , budget = £16.5 billion (current) and £1.3 billion (capital) for 2011-12 , minister1_name = , minister1_pfo = , chief1_name = , chief1_position = , chief2_name = , chief2_position = , child1_agency = Companies House , child2_agency = HM Land Registry , child3_a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
