ABSTRACT
In this report, produced in 1995,120 the Committee considered that there were a variety of flaws in the UK approach to monopoly control. The report considered the criticism that the public interest criteria were too broad and vague, resulting in inconsistency and unpredictability. The Committee was also concerned that Department of Trade and Industry (DTI) policy was not clear as to the objectives of UK competition policy and the report advocated that consumer policy interests should be at the heart of UK competition policy. The Director General of Fair Trading (DGFT), in his representations to the Committee, highlighted four main shortcomings of the 1973 Act: (1) the lack of deterrence provisions; (2) the limited investigation powers; (3) the existence of no provisions for interim measures; and (4) the absence of rights for private parties to take action for damages or other
The Committee reviewed earlier reform proposals and confirmed that a prohibition approach, based substantially on Art 82, should be adopted. The Committee considered that a prohibition approach would provide greater deterrence and had the potential to provide greater clarity, consistency and predictability. This report is notable because of the remarkable similarities with the ultimate reform proposals introduced in the Competition Act 1998.
