The competition framework Schedule 5: Amendments related to Part 3 Part 1: Transfer of functions under the Competition Act 1998 to the Competition and Markets Authority
202.Part 1 of Schedule 5 (paragraphs 1 to 58) provides for the transfer of all of the OFT’s functions under the CA 1998 that is, its functions relating to the prohibitions against anti-competitive agreements (Chapter 1 of the Act and Article 101 of the Treaty on the Functioning of the European Union (“TFEU”)) and abuse of a dominant position (Chapter 2 of the Act and Article 102 of the TFEU) to the CMA. These include, in particular, functions in relation to exemptions to the prohibitions on anti-competitive agreements and abuse of a dominant position; anti-trust investigation and enforcement functions; the OFT’s rule making functions; and functions of assisting the EU Commission in carrying out its investigations under Part 2 of the CA 1998. The OFT’s Board is responsible for decisions in relation to the OFT’s functions under the CA 1998. These decisions will be taken by the CMA Board.