The Competition Act 1998 is the current major source of competition law in the United Kingdom, along with the Enterprise Act 2002.
The act provides an updated framework for identifying and dealing with restrictive business practices and abuse of a dominant market position.
Chapter 1 - Deals with restrictive practices engaged by companies operating within the UK that distort, restrict or prevent competition. These are primarily in the form of horizontal agreements (agreements to collude between firms on the same level of the supply chain such as retailers or wholesalers). These agreements could be to limit output, collusively share information, fix prices, tender collectively and share markets out.
Chapter 2 - Deals with the abuse of a dominant position by a firm who uses practices such as predatory pricing, excessive prices, refusal to supply, vertical restraints and price discrimination to maximise profit, gain competitive advantage or otherwise restrict competition.