Reviews of Undertakings and Orders
The Office of Fair Trading (OFT) has a statutory duty to keep under review undertakings and orders under the Fair Trading Act 1973 and the Enterprise Act 2002. From time to time, the OFT must consider whether, by reason of any change of circumstances, the set of undertakings or order is no longer appropriate and needs to be varied or terminated and give the CC such advice as it considers appropriate. Responsibility for deciding on variation or termination of undertakings or orders lies with the CC in all but a very limited number of undertakings and orders.
A Memorandum of Understanding has been agreed between the OFT and the CC in order to:
- Promote effective co-operation between the OFT and the CC in the consideration of variation and termination of undertakings and orders by establishing a clear framework for interaction and understanding of the processes to be followed.
- Ensure that the process for the variation and termination of undertakings and orders is communicated effectively to aid transparency.
Reviews completed by the CC since the Enterprise Act 2002 came into force.