What two chapters does the Competition Act 1998 consist of?

The Competition Act 1998 is a key piece of legislation in the UK designed to promote competition and prevent anti-competitive behavior in the marketplace. The Act specifically comprises two primary chapters: one focusing on anti-competitive agreements and the other addressing abuse of dominance.

The first chapter deals with agreements that may prevent, restrict, or distort competition within the UK. This includes cartels or any arrangements between businesses that could lead to reduced competition. The purpose of this chapter is to prevent companies from collaborating in ways that are detrimental to fair competition and consumer choice.

The second chapter of the Act pertains to the abuse of a dominant market position. This refers to actions taken by a company that holds a significant advantage over its competitors, which could harm the competitive landscape or exploit consumers. The focus is on ensuring that even dominant players in the market do not engage in unfair practices that could stifle competition.

Understanding these two chapters is vital for businesses, legal professionals, and policymakers as they navigate the regulatory environment related to competition law. The other options provided either do not relate to the actual contents of the Competition Act 1998 or address different areas of law that do not align with the focus of the act.