Following the Enterprise Act 2002, the OFT has become a corporate body headed by a
board which has replaced the role of the DGFT. Under the legislation, the OFT has been
given a leading role in promoting competition and consumer interests and is now the
main source of reference for mergers referred to the Competition Commission.
According to the OFT website (www.oft.gov.uk), the organisation has three main
operational areas of responsibility: competition enforcement, consumer regulation
enforcement, and markets and policies initiatives. Its Annual Plan – required under the
2002 Act – is a useful source of reference on the work of the OFT and on its key objectives
and priorities