The Office of Fair Trading has launched a major consultation on its competition policy.
The existing framework of competition legislation is provided by Part 2 of the Fair Trading Act 1996 which is based on a 1980 Act of Parliament which was subsequently repealed. The OFT believes that Island legislation needs to be overhauled in order to both ensure protection for consumers and provide an environment which encourages businesses to compete in open and fair markets.
The OFT is hoping to hear the views of both consumers and the business community on this important issue and would like to remind members of the public who wish to submit information this should be received no later than 30th September 2013. The consultation document can be accessed online at:
http://www.gov.im/lib/docs/oft/consultations/consultativedocumentrecompetition.pdf
Paper copies are available from the OFT Offices in Lord Street or by telephoning 686576.
