Competition law
The United Kingdom joined the European Community (EC) with the European Community Act 1972, and through that became subject to EC competition law. Since the Maastricht Treaty of 1992, the EC was renamed the European Union (EU). Competition law falls under the social and economic pillar of the treaties. After the introduction of the Treaty of Lisbon the pillar structure was abandoned and competition law was subsumed in the Treaty on the Functioning of the European Union (TFEU). So where a British company is carrying out unfair business practices, is involved in a cartel or is attempting to merge in a way which would disrupt competition across UK borders, the Commission of the European Union will have enforcement powers and exclusively EU law will apply. The first provision is Article 101 TFEU, which deals with cartels and restrictive vertical agreements. Prohibited are...