Certain rules and regulations related to the commercial domain Essay

Certain rules and regulations related to the commercial domain - Essay ExampleThis study looks into fairness as the rule that the society will enforce. The popular opinion of law has been used by several aspects ilk economic activities, such as production and consumption, social activities, such as social integration and relationship, just now the most important aspect is related to the business or the commercial activities. In this context the notion of business law has been used. The role of the competition commission where the soulfulness is working can be depict by the Competition Act that has been introduced in 1998 under the UK law act. The competition commission is a element corpse of the competition and regulatory responsibilities under UK law. The competition commission is part of the competition law of the UK. The competition commission is public body that is characterised as a non-departmental organisation. The commission was started as an independent body by the a ct of 1998 by replacing the Monopolies and Mergers Commission on 1999. The commission is aimed at conducting in-detail investigations intoMergers (which are both anticipated or completed), Markets (which is related to the scale monopolies and monopoly practices) Regulations (including price regulations and industry regulations etc.). These are the major roles of the commission where the person works as a trainee. The role of the commission is to investigate those above mentioned practices and activities and to refer these investigations to the Office of bazar Trade (OFT). The commission cannot initiate any investigation unless it receives reference by another authority. The commission is trustworthy for taking decisions regarding the mergers and market and for providing remedial measures to industries. These remedial measures are related to the adverse effects which are or can be obtained by mergers and consumers or producers in the market. After completing its investigation the commission produces a report regarding the investigation and its associated results and submits this to the concerned authority and hence, provides remedial measures or decisions (Competition Commission General Advice and Information, 2006, p.7). The commission conducted a study on Public Enterprises, Government Policy and Impact on Competition Indian rock oil Industry on reference by Indicus Analytics Pvt. Ltd. The objective of the study was to examine the nature of competition in Petroleum Refining. The study showed that there is monopoly in the domestic market and suggested that to introduce competition in the market, it is requisite to lift restrictions on imports (Public Enterprises, Government Policy and Impact on CompetitionIndian Petroleum Industry, 2009) on a lower floor the Competition Act 1998, 50 public trains were fined for fee fixing by OFT. These schools include Eton and Harrow. Each school was ordered to pay a fine of ? 10000. Around 40000 students who attended between 2001 and 2004 were supposed to beneficiaries (Smithers, 2006). 2. What are monopolies, mergers and cartels? Monopolies, mergers and cartels are the form of economic organisations where one or very few producers produce homogeneous products. A monopoly is defined as the market structure where only one producer or firm produces and supplies a special product to all the customers of that product. In the UK market for postal service, the Royal Mail had a 350